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Micron working on MX300 SSDs
Micron has just launched two new PCIe NVMe solid-state drive lines – the 7100 and 9100 series – but unfortunately there aren’t any consumer grade drives there. To remedy the situation the US company will release a new consumer-grade SSD line, called Crucial MX300, later this year.
An interesting fact is that the Crucial MX300 line will come into waves – the first wave will arrive on July 19, 2016, while the second wave will come on August 16 this year. The drives, which will be launched on July 19, will feature models with capacities of 275 GB, 525 GB and 1050 GB in the popular 2.5-inch form factor and a single M.2 model with a capacity of 275 GB. In August the lines will be enhanced – the 2.5-inch line will get a 2 TB model, while the M.2 line will enjoy two new SSDs with capacities of 525 GB and 1050 GB.
The upcoming Crucial MX300 line is expected to feature TLC NAND flash memory made by Micron. Performance-wise the line will reach 530 MB/sec of sequential read speed and 510 MB/sec of sequential write speed as well as 92K and 83K IOPS while reading and writing. The drives in the line will support AES encryption with 256-bit keys and Micron’s Momentum Cache intelligent data caching technology. In addition the Crucial MX300 series will have 1.5 million hours of MTBF and a 3-year warranty.
There are no details on pricing as of now except that the 2.5-inch 525 GB model will cost EUR 200. The Crucial MX300 family will be officially unveiled during Computex 2016.


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- Chandrababu to visit Nellore today, to address a public meeting
- Visakhapatnam: Brahmin associations protest against Mahasena Rajesh
- Air Force plane hovers over Begumpet Airport amid tech glitch
- Cops bust fingerprint cloning racket; 2 GHMC sanitation supervisors held
- Greens gear up to roll out drive for upkeep of trees across city
- Vijayawada: Sunitha read out script of N Chandrababu Naidu, says Sajjala Ramakrishna Reddy
- India to see warmer start to summer this year: IMD
- Uttam sees BRS-BJP nexus in Kaleshwaram
- PM hits out at TMC over Sandeshkhali atrocities
- Vijayawada: N Chandrababu Naidu complains to Governor against APSDRI
Indian IT sector top revenue generator, job creator
The already buzzing Indian IT sector got a shot in the arm when the industry body NASSCOM predicted that the sector will grow twice as much the Indian GDP in the last financial year.
The already buzzing Indian Information Technology (IT) sector got a shot in the arm when the industry body National Association of Software and Service Companies (Nasscom) predicted that the sector will grow twice as much the Indian gross domestic product (GDP) in the last financial year.
It is around $227 billion industry, which added 4.5 lakh new jobs to take the overall direct employees to 50 lakh people. Over 44 per cent of the new hires were women and their overall share is now 18 lakh.
The IT industry grew over 15 per cent in the last financial year 2021-22 (April-March).
The Central government's flagship Digital India mission has also given necessary impetus to the IT industry in the country.
According to India Brand Equity Foundation (IBEF), in 2021-22 financial year (FY22), the top three Indian IT companies, Tata Consultancy Services (TCS), Wipro and Infosys, were expected to offer 1.05 lakh job opportunities due to the increasing demand for talent.
The Indian mobile gaming market is growing at a pace in tandem with the global trend and is expected to reach $7 billion in 2025. The online gaming market in India is projected to reach $2.12 billion by 2023, from $1.08 billion in 2020, due to rapid increase in consumption.
India's IT and business services market is projected to reach $19.93 billion by 2025. According to Gartner estimates, IT spending in India was forecasted to be $81.89 billion in 2021 and further increase to $101.8 billion in 2022, a 24.31 per cent year-on-year increase.
The IT industry's revenue had grown by 2.3 per cent to $194 billion in FY21. Export revenues grew 17.2 per cent to $178 billion, while the domestic revenues grew 10 per cent to $49 billion. Additionally, share of the new age digital services grew 25 per cent to $13 billion and India has a strong workforce geared for technologies of the future, Nasscom had stated.
"This has been a watershed year for the tech industry, thanks to the persistent focus on customer-centricity. The industry has added $100 billion in 10 years; the first $100 billion took 30 years," said Nasscom President Debjani Ghosh.
IT, a knowledge-based industry, has the tremendous potential of becoming an engine of accelerated economic growth, productivity improvement for all sectors of the economy and means of efficient governance. It enhances access to information, protects consumers, provides access to government services, makes skill formation and training more effective, improves delivery health services, and promotes transparency. It provides tremendous employment potential and linkages between government and the people both at the rural and urban level, stated NITI Aayog.
India's Minister of Communications, Electronics & IT Ashwini Vaishnaw, said the tech industry showed remarkable resilience despite the disruption caused by Covid. "This is one of the key differentiators from the country," he had stated.
Indian IT firms have delivery centres all across the world. The IT & BPM industry is well diversified across verticals such as BFSI, telecom and retail.
According to IBEF, in 2020-21, India ranked third worldwide with 608,000 cloud experts across all verticals, including technology.
The computer software and hardware sector in India attracted cumulative foreign direct investment (FDI) inflows worth $81.31 billion between April 2000 and December 2021.
The IT industry accounted for 8 per cent of India's GDP in 2020. According to Software Technology Park of India, software exports by the IT companies connected to it, stood at Rs 1.20 lakh crore in the first quarter of FY22.
Indian software product industry is expected to reach $100 billion by 2025. Indian companies are focusing to invest internationally to expand global footprint and enhance their global delivery centres, revealed IBEF.
The data annotation market in India stood at $250 million in FY20, of which the US market contributed 60 per cent to the overall value. The market is expected to reach $7 billion by 2030 due to accelerated domestic demand for Artificial Intelligence.
Exports from the Indian IT industry stood at $149 billion in FY21. Export of IT services has been the major contributor, accounting for more than 51 per cent of total IT export (including hardware). The Business Process Management (BPM) and Engineering and R&D (ER&D) and software products exports accounted for 20.78 per cent each of total IT exports during FY21. ER&D market is expected to grow to $42 billion by 2022.
The computer software and hardware sector in India attracted cumulative foreign direct investment (FDI) inflows worth $81.31 billion between April 2000-December 2021. The sector ranked second in FDI inflows as per the data released by the Department for Promotion of Industry and Internal Trade (DPIIT). Computer software and hardware make up 14.19 per cent of the cumulative FDI inflows.
Prime Minister Narendra Modi has been giving lot of importance and support to the start-up companies in the country. Lots of IT start-up companies -- Internet of Things, machine learning, artificial intelligence and healthcare -- have started operation and are getting support from various government schemes.
India's IT startup ecosystem has received record investments of nearly $36 billion in privately held companies in 2021, up from $11 billion in 2020.
In the Union Budget 2022-23, the allocation for IT and telecom sector stood at Rs 88,567.57 crore.
The government introduced the STP Scheme, which is a 100 per cent export-oriented scheme for the development and export of computer software, including export of professional services using communication links or physical media.
According to Invest India, the country is one of the most preferred destinations when it comes to setting up Global Capability Centres (GCCs). In FY21, more than 1,400+ GCCs have more than 2,300 GCC units in India, employing more than 1.38 million professionals.
Investment in Software-as-a-Service (SaaS) has increased 62.5 per cent over 2021 and is expected to reach $6.5 billion in 2022. There are over 1,150 active Indian SaaS companies; 17 of which have achieved the unicorn status.
Keeping itself abreast with the latest technology innovations globally, the Ministry of Electronics and Information Technology released the National Strategy on Blockchain to reduce frauds, speed up enforcement of contracts, and increase the transparency of transactions.
According to a NITI Aayog white paper, Artificial Intelligence and new-age technology will boost India's annual growth rate by 1.3 per cent by 2035.

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The new website is easy to navigate and optimized for the user experience
January 6, 2017
Maves Heating & Air Conditioning is a heating and air conditioning service company serving New Jersey communities in Monmouth and Ocean counties. The company recently launched a new, responsive website to enhance its internet presence and provide information online about its services.
Mobile devices, such as smartphones and tablets, and their ability to connect wirelessly have helped drive interest and awareness of home automation products and services, according to The NPD Group’s Home Automation Study.
Consider the number of tablets that are now available from Apple, Barnes & Noble, Amazon, Samsung, Microsoft, and Google. Add in the vast array of smartphones, netbooks, and laptops that are continually being introduced, and it’s no wonder that contractors may have a hard time deciding which mobile device(s) to choose for their field personnel.
Contractors and trade professionals are relying on smartphones and other mobile technology like laptops and tablets to assist in purchase decision-making, according to a national research study conducted by Eric Mower + Associates (EMA) Group B2B.
Most contractors have already given their technicians some type of basic mobile device — often a cell phone or two-way radio — while others have invested in total mobile solutions that include tablet PCs and portable printers. With the cost of mobile technology decreasing, now may be the perfect time to see if it makes sense to go mobile.
“App” has become such a common word that it will likely find its way into the dictionary soon. It certainly has found its way into everyday personal and business use by millions of Apple iPhone or Google Android smart phone users.


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UltraTech Cement’s net profit for the third quarter of the fiscal soared to Rs 212 crore from Rs 24 crore a year earlier. The steep rise in net profit was due to higher sales volumes, higher realisations, and better management of energy costs, said Mr K.C. Birla, Executive President and Chief Financial Officer of the company.
It was also in part due to the inclusion of the results of Narmada Cement Company Ltd, which were not taken into account a year earlier. This makes the year-on-year results not strictly comparable, said a statement from the company.
at Rs 1260 crore recorded a rise of 60 per cent as sales volumes rose 15 per and net realisations 48 per cent (at Rs 3020 per tonne of cement from Rs 2040 per tonne)
Sales volumes amounted to 44.96 lakh metric tonnes (39.24 lmt) during the quarter; production rose to 36.36 lmt of clinker (35.26 lmt) and 35.87 lmt (33.23 lmt) of cement as capacity utilisation rose to 103 per cent (88 per cent).
Exports volumes rose 45 per cent, while export realisations improved by 6 per cent, despite a 2 per cent appreciation of the rupee, said Mr Birla.
Operating profit rose by 239 per cent to Rs 397 crore (Rs 117 crore).
"We were able to keep variable cost increase contained at 5 per cent," said Mr Birla.


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This past April, New York Times journalist David Barstow detailed, in a front page article, Wal-Mart de Mexico’s historical business conduct in Mexico. The article resulted in one of the most intense instances of FCPA scrutiny ever. (See here for the prior post discussing the April story).
Today, in a front-page article (here) titled “The Bribery Aisle: How Wal-Mart Used Payoffs to Get Its Way in Mexico,” Barstow continues his investigation of Wal-Mart’s historical business conduct in Mexico.
While the extensive article provides much factual detail concerning many of the general issues from the original April article, from an FCPA perspective, the issues largely remain the same. For my prior analysis of Wal-Mart’s FCPA scrutiny, see this article titled “Foreign Corrupt Practices Act Enforcement As Seen Through Wal-Mart’s Potential Exposure.”
Based on travel to dozens of towns and cities in Mexico, gathering tens of thousands of documents related to Wal-Mart de Mexico permits, and interviewing scores of government officials and Wal-Mart employees, the article, in pertinent part, states as follows.
“The Times’s examination reveals that Wal-Mart de Mexico was not the reluctant victim of a corrupt culture that insisted on bribes as the cost of doing business. Nor did it pay bribes merely to speed up routine approvals. Rather, Wal-Mart de Mexico was an aggressive and creative corrupter, offering large payoffs to get what the law otherwise prohibited. It used bribes to subvert democratic governance – public votes, open debates, transparent procedures. It used bribes to circumvent regulatory safeguards that protect Mexican citizens from unsafe construction. It used bribes to outflank rivals. Through confidential Wal-Mart documents, The Times identified 19 stores sites across Mexico that were the target of Wal-Mart de Mexico’s bribes. The Times then matched information about specific bribes against permit records for each site. Clear patterns emerged. Over and over, for example, the dates of bribe payments coincided with dates when critical permits were issued. Again and again, the strictly forbidden became miraculously attainable. Thanks to eight bribe payments totaling $341,000, for example, Wal-Mart built a Sam’s Club in one of Mexico City’s most densely populated neighborhoods, near the Basilica de Guadalupe, without a construction license, or an environmental permit, or an urban impact assessment, or even a traffic permit. Thanks to nine bribe payments totaling $765,000, Wal-Mart built a vast refrigerated distribution center in an environmentally fragile flood basin north of Mexico City, in an area where electricity was so scarce that many smaller developers were turned away.”
The majority of the article focuses on alleged bribe payments – approximately $200,000 in all – to build a Wal-Mart de Mexico store in Teotihuacan, a city home to several historical treasures.
The allegations focus on a changed zoning map, various permits and licenses needed for construction, town council approval, potential donations to Mexico’s National Institute of Anthropology and History (INAH – the official guardian of Mexico’s cultural treasures) , and offers of money to neighborhoods to expand its cemetery, pave a road, build a handball court, pay for paint and computers for a school, and build a new office building.
As to these later category of alleged payments or offers, the Time article does not mention that even the Department of Justice, in similar types of circumstances, has blessed similar offers of payment in the context of FCPA Opinion Procedure Releases – see here, here, and here.
Like the April article in the Times, today’s story also focuses on the conduct of business leaders at corporate headquarters. The Times article states as follows. “Despite multiple news accounts of possible bribes, Wal-Mart’s leaders in the United States took no steps to investigate Wal-Mart de Mexico.” The article also quotes a Wal-Mart spokesman as saying that while executives in the United States were aware of the controversies surrounding the Teotihucan store, “none of the [Wal-Mart employees interviewed in connection with Wal-Mart’s current investigation] , including people responsible for real estate projects in Mexico during [the relevant time period] recall any mention of bribery allegations related to the store.”
In short, and as I originally stated in my prior article, it is useful to view the Wal-Mart story as a corporate governance sandwich with the FCPA merely a condiment.
See here for Wal-Mart’s statement and video concerning today’s New York Times article. In pertinent part, the statement is as follows.
“The allegations contained in the New York Times article surrounding events in 2003-2004 involving the permitting and licensing process for a Walmart de Mexico store in Teotihuacan, Mexico, have been part of the company’s ongoing investigation of potential violations of the U.S. Foreign Corrupt Practices Act we began more than a year ago. The Audit Committee of the board, comprised entirely of independent directors, is overseeing the investigation. We are also continuing to cooperate with the Department of Justice and the Securities and Exchange Commission on this matter. At this point, the investigation is still ongoing and we have not yet reached final conclusions. A thorough and independent investigation will take time to complete. We wish we could say more but we will not jeopardize the integrity of the investigation. […] While the investigation is ongoing, we have not waited to act. Over the past 20 months, we have made significant improvements to our compliance programs around the world and have taken a number of specific, concrete actions with respect to our processes, procedures and people. Over the past several months we have:
- Established several new compliance positions around the world;
- Directed more than 300 third-party legal and accounting experts who have dedicated in excess of 79,000 hours to this effort;
- Conducted more than 85 in-country visits and more than 1,000 interviews of market personnel;
- Spent more than $35 million on new processes and procedures; and
- Conducted training sessions attended by more than 19,000 associates.


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Whether you like it frothy, skinny, straight or short, coffee lovers around the world face a wake-up call as the perfect storm brews for their favourite drink. For the first time, researchers have mapped suitability for Arabica coffee – the most popular, high-quality gourmet variety with a 70 percent global market share – to see how it will cope in 2050.
The results shows that coffee, which ranks just after oil in its value among traded commodities and is grown in more than 60 tropical countries – with around 400 million cups sipped at each year – will be significantly hit by temperatures above two degrees Celsius and rainfall changes. Production must shift to cooler areas to survive, warn authors – which could spark higher prices and reduced supply for the prized drink.
“For the first time, we’ve collected enough regional data to show that coffee farmers must compensate for higher temperatures to survive,” said Dr. Peter Läderach, co-author of the report and senior climate change specialist for the global CGIAR Research Program on Climate Change, Agriculture and Food Security (CCAFS), led by the Colombia-based International Center for Tropical Agriculture (CIAT).
Major producers – Brazil, Vietnam, Indonesia and Colombia – together producing 65% of the global market share, are set to experience severe losses if adaptation measures are not taken, authors warn.
Taking a hike… uphill
Intercropping with trees to provide shade, or moving to higher elevations where it is cooler, can compensate for higher temperatures by two to three degrees, say authors. Generally, coffee will need to move between 300 to 500 meters further above sea level depending on location to survive.
That’s feasible in Ethiopia or Kenya along the Great Rift Valley, where Coffea Arabica originated and elevations reach 2,400 meters above sea level. But in Brazil for example – the world’s largest coffee producer and exporter, accounting for around a third of global trade – is already cultivated at low elevations and can’t shift further upwards.
“What’s more, Brazil’s highly mechanized, commercial coffee production is not suitable for intercropping with trees, which could provide shade and bring temperatures down,” said Läderach. “That could mean shifting production east – from Central America to eastern Africa and the Asia-Pacific, if strategies are not put in place to adapt,” he added.
Brazil can expect whopping 25 percent losses to current production if adaptation strategies and measures are not taken, authors warn. Nicaragua, El Salvador and Mexico all face slashes in their production and severe economic impacts are expected in Mesoamerica, where Arabica is an important export.
Dr. Tim Schilling, executive director of the Investigación mundial del café program, funded and driven by the global coffee industry and a partner of CIAT, responding to results said: “A 25 percent reduction in output from Brazil will have tremendous, transformational impact across the entire coffee sector. Net results will be less global supply and increased coffee prices for roasters and consumers.”
Generally, the global study shows that areas between 600 and 1,900 meters above sea level will be best suited to Arabica coffee production, though this depends on many other factors. But just moving coffee upwards may not always be feasible.
Indonesia, one of the top-four producing countries, is expected to see the area suitable for producing Arabica slashed by up to 37 percent. Production could shift to higher elevations, but these typically forested, natural reserve areas are home to indigenous communities and biodiverse environments.
A shift east for Arabica coffee production would be a game-changer for the entire sector, noted Schilling. But whether it will happen is not obvious, he added. “There is competition for land among other cash crops in Indonesia and the Pacific, and it is unknown whether Africa can build the necessary capacity in terms of politics, business climate, supporting institutions and infrastructure,” he said.
“For me, it all says brace yourselves for higher prices,” said Schilling. “The only glimmer on the horizon is the ability to change the coffee plant so that it produces decent coffee and yields under a climate-constrained environment,” he added.
Action now, researchers warn
Coffee takes around five years to become established and bear fruit. That’s a long-term investment for the 25 million farmers, most of them smallholders, who depend on coffee for their livelihoods. This research enables scientists to evaluate new coffee hybrids to perform under a wide range of production environments – including those projected in future.
“We expect to know more about how the genetics of coffee can be used to buy more time,” said Schilling. Information gained by breeders will be invaluable for the development of new, climate-resilient varieties tailored to individual climatic zones.
But research is only one piece of the puzzle. “We need to design adaptation strategies to protect the coffee industry and smallholder farmers that supply it now,” stressed Läderach. “For that to happen, global supply chain actors along the coffee value chain need to collaborate and fund adaptation efforts.”
That’s already happening in Nicaragua. In 2013, adaptation strategies developed by CIAT and partners were included in the country’s national plan, triggering US$10 million in support for the Nicaraguan government to implement them. “Coffee farmers can already feel the heat. It’s time to wake up,” said Läderach. “Or coffee farmers will be forced to find alternatives,” he said.
– See more at: http://www.ciatnews.cgiar.org/2015/04/27/new-coffee-study-a-wake-up-call/#sthash.iKBs5pbb.dpuf


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The UIGEA forced millions of Americans to withdraw from the online casinos and poker rooms of Europe. The Remote Gambling Association (RGA) is the body that represents these online gambling organizations in Europe.
Earlier the RGA had lodged a formal complaint with the European Union (EU) and requested them to take up the matter with the U.S.
Accordingly the EU asked for a meeting with US Trade Representative office (USTR) to discuss what it called a discriminatory trade practice and contrary to the principles of the World Trade Organization. The U.S. had cancelled several scheduled meetings at the last minute. A meeting was finally held last week but the USTR blocked any useful discussion.
Now the EU has the option of filing a complaint with the WTO. A decision to do so is expected to be taken by the end of this year. The outcome of this complaint could result in a claim of hundreds of millions of dollars against the U.S. in trade damages. Earlier Antigua too had been rebuffed by the U.S. on this issue and may well join hands with the EU.


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Traditional Italian cuisine is best served around the family table. And although homemade pasta is hard to beat, some home cooks still opt for dry pasta as a more convenient option. A quick trip to the grocery store should be enough to get a quick and easy meal… Yet a growing number of international brands are raising concerns about food quality and safety.
Over the past few weeks, some pasta companies and makers have landed in hot water over reports of bugs, product recalls and potentially harmful chemicals found in some brands. Below is a handy list of brands to watch the next time you’re in the pasta aisle at the grocery store.
Italian food company Buitoni found itself at the center of controversy just months ago after accusations of food contamination made headlines. Founded in 1827, the brand is best known for its pastas, sauces and pizzas. However, the French authorities have recently launched an investigation into Buitoni’s frozen pizza who allegedly killed two children and sickened more than 50 other children and one adult.
Food industry news site food preparation speculated that the scandal could stem from potential shortcomings in factory food safety and production in the French town of Caudry, quoting pictures of “things like a worm on a production line and spilled food on a floor…”.
In response, Buitoni’s parent company, Nestlé, noted that the photos were taken years ago, and CEO Mark Schneider defended Nestlé’s food safety efforts. “Let me just tell you that these are old photos from 2020. They are not representative of the strict health and quality standards of any Nestlé factory nor are they related to the current situation,” said Schneider. In addition, the CEO of Nestlé France, Christophe Cornu, recently announced a financial support fund for the families concerned.
Conversations around San Remo have buzzed online about its food security or potential lack thereof. The Australian pasta companyfounded in 1936, offers regular, gluten-free and vegan versions of pasta, proudly claiming to be “Australia’s #1 pasta brand”, on its Facebook page.
However, a thread in the r/newzealand subreddit revealed some consumer concerns about biohazards. In the thread, a user found “a few nasty surprises” in the form of live insects. When asked if the pasta was San Remo of the local supermarket Countdown Henderson, the confirmed original poster both the brand and the store to be the culprits. Other reviewers shared that they experienced the same ordeal when buying pasta from this store, as well as others Reddit Posts. Those of the wire predicted that the bugs were most likely weevilsinsects that are often found in dry goods such as flour, cereals and pasta.
In yet another case, a user of the r/auckland subreddit spotted 15 bugs in their San Remo Penne pasta and it continued to made the headlines. Among other stakeholders, one noted that “it’s actually very likely that the packaging broke and the infestation happened in a warehouse (theirs or a supermarket’s).”
Since 1980, Whole Foods has built a reputation for providing wholesome foods with a focus on sustainable agriculture. Whole Foods Market’s 365 house brand offers a variety of items, including pasta sauces like its Organic Tomato Basil Sauce for Pasta it’s vegan, organic and dairy-free. While some of the ingredients looked good on the surface, other potentially hidden ingredients could be cause for concern.
According to an article by Sierra Club magazine. The The United States Environmental Protection Agency (EPA) defines PFAS as a group of chemicals that can “decompose very slowly and can accumulate in people, animals and the environment over time”. The same PFAS are also found in fire fighting foam, non-stick cookware and drinking water.
The EPA has found that high exposure to PFAS can lead to a number of health risks, including reduced fertility, effects on children’s development, and an increased risk of “certain cancers, including cancers of the prostate, kidneys and testicles.
In 2018, Whole Foods ended the use of packaging containing PFASbut a march 2022 consumer reports the article found detectable organic fluorine in soup containers. In response to the article’s findings, Whole Foods stated that it “does not make PFAS-free claims, but has worked to prevent the intentional addition of PFAS to packaging.”
The company Dolmio has been launched in the 1980s and offers a range of pasta sauces. Dolmio operates under its parent company March, Incorporated– the same company that produces Snickers, Skittles, M&M’s and Uncle Ben’s.
Just a few weeks ago, Mars and Dolmio made headlines after announcing a recall on Dolmio Carbonara Pasta Sauce Mix and Carbonara Pasta Sauce Packets. According Food Standards Agency, the recall was due to traces of soy which were not on the label. On the site’s ‘Allergy Alert’ page, the article mentions that “This means that the products pose a potential health risk to anyone with a soy allergy. [/soy].”
In June 2022 Press releaseMars Food UK advises that “anyone with a soy allergy should not consume these products”, and added that those affected should contact customer service for a full refund.
Hailing from Birmingham, Alabama, Alex Perry joins “Eat This, Not That!” as a freelance writer. Read more


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Published in News
Nokia prevails over Qualcomm in patent dispute
by David Stellmack on28 February 2008
Trade commission confirms
The U.S. International Trade panel has confirmed a Judge’s ruling in Nokia’s favor in a patent dispute between Nokia and Qualcomm. Qualcomm had accused Nokia of infringing patents that control the power required by mobile phones, and asked the ITC to bar Nokia’s ability to import the technology.
Nokia is quite happy about the decision by the ITC, and Qualcomm did not say whether it would appeal the ruling. This was one patent decision in Nokia’s favor. The two companies have nearly a dozen other legal disputes pending. The companies have been feuding legally since they failed to renew a key technology licensing agreement that expired in April 2007.


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Students collaborated with members of Winda-Mara Aboriginal Corporation on a mobile app to help promote tourism in the Tyrendarra Indigenous Protected Area, near Portland in Victoria's south-west.
The app uses GPS technology to trigger audio, video, photographic and textual content as visitors progress through the site. The content includes interviews with Gunditjmara Elders, rangers and tourism officers.
The mobile app will be released later this year by Winda-Mara on the Apple and Google app stores.
Students developed brand concepts and collateral including branded coffee cups, projections at White Night Melbourne, brand marks, logos and symbols, posters, an EDM, a zine and a social media campaign.
Student campaigns will be used to develop promotional material for 2017.
Read the full article


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Ramzan package to facilitate lower income
Government will provide Rs1.73 billion subsidy under Ramzan Relief Package to provide essential daily commodities at subsidised rates at all utility stores across the country.
This was said by Minister of State for Industries and Production, Arshad Leghari during a press conference on Monday.
The minister said that the daily commodities are available at Utility Stores Corporation (USC) countrywide network as the package had started on Monday.
The USC has also set up a control room at its head office to receive complaints from the consumers and the consumers can also call to register their complaints.
The Daily Morning Mail has learnt that the subsidy is offered on more than 19 food items. The government has offered more than Rs1.73 billion for subsidy and a relief of 5 per cent to 80 per cent would be offered. The offer would be continued till the last day of Ramzan.
The Managing Director of Utility Stores Cooperation (USC) Habib ur Rehman has formally launched the subsidy offer on Monday. Addressing the gathering, the managing director vocalized his determination to ensure availability of relief food items at all utility stories across the country.
He said that all preparations had been made to provide relief to the masses. The managing director said that no leniency will be practiced with the staff whose involvement in corruption would be discovered. Habib ur Rehman told that in order to keep the relief package safe from corruption, special anti-corruption committees have been established across the country. The committees will pay surprise visits to the utility stores and assess the performance of the workers.
USC would provide Rs4 per kg subsidy on wheat flour (atta), Rs5 per kg on sugar and Rs15 per kg on Ghee respectively, whereas Rs10-15 per kg subsidy will be given on different pulses including moong, mash and gram.
He said Rs30 per kg subsidy is being provided on dates and Rs25 per kg on gram flour (baisen) and Rs15 per kg on rice, whereas Rs50 per kg subsidy is being provided on tea and 50,000 metric tons of flour, 40,000 metric tons sugar and 30,000 metric tons of ghee will be provided on controlled rates to consumers through its outlets across the country.
Leghari informed that under Ramzan Package, price of gram pulse will be Rs95 per kg, while that of moong pulse would be Rs90 per kg.
Similarly, he said pulse mash would be sold at Rs105 per kg, pulse masoor at Rs80 per kg, white gram at 140 per kg, gram flour at Rs120 per kg, date (500 gram) Rs75, and Super Basmati rice would be available at Rs110 per kg.
Additionally, USC will also reduce the prices of essential food and non-food items under different brands from 5 to 10 per cent by obtaining special discount from the vendors and suppliers.
Rehman informed that the USC board will decide about the confirmation of jobs of daily wage as well as the contractual employees.
He said that more than 1,000 stores running in loss will be merged in profit earning stores in Pakistan. He pointed out that in the past this cooperation was looted, and now no single person would be allowed to dirt their hands in malpractice.
He informed the media persons that many cases of corrupt officials are under trial in FIA and NAB. The cooperation has facilitated the process of filing hundreds of cases against the corrupt officials.
He said the relief package is essentially established for the poor masses. Special committees have been formed with the aim of securing it from the corrupt elements.
He informed that as many as five utility stories would be computerized in every region and these stores will be connected with Regional Warehouse so that unnecessary supply and other issues can be addressed.
He expressed hope that if this experiment emerged as a success, an additional number of utility stores will be computerized in the future.


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ThoughtWorks, a maker of custom software, has announced the availability of its Technology Radar for October 2012. According to a press release, the material within was created out of "lively debates held among ThoughtWorks' Technology Advisory Board, comprised of senior technology leaders from across the globe", and intends to report on and highlight emerging trends that should form the core of web and app development strategy over the coming months.
This latest study identified 'mobile design and testing', 'readily accessible analytics', 'the need for simple architectures', 'cloud driving reproducible environments' and 'data persistence done right' as the five main trends the industry should focus on, and particularly noted that "significant shifts are taking place within mobile", which is becoming the "primary way of accessing the internet".
ThoughtWorks consultant James Lewis told .net that the company works in a wide context, and believes in "software's liberating capacity for society, attacking the most pressing problems of our time", including social and economic inequality, the environment, energy, healthcare, participatory democracy, and more. In terms of the Technology Radar, he said he believes we're "rapidly heading towards a world where the majority of consumer interactions are from mobile devices", and strongly recommended the concept of mobile-first design and responsive websites, ensuring sites are always tailored to a user's device.
Beyond mobile design, Lewis noted other technologies had rapidly evolved, not least analytics: "Advanced analytics such as machine learning, semantic analysis, text mining and quantitative analytics have matured in the past 15 years. But now they offer incredible power for predicting, forecasting, identifying repeatable patterns, and analysing unstructured data like audio, video, and imagery content." Historically, he said, our ability to store and rapidly analyse such data was severely limited: "We had to take very small samples of this type of data to build analytical models – and the models we built took a long time to validate and put into production." Now, things have changed: "Using a spectrum of new technologies like NoSQL, data harvesters, MapReduce frameworks, and clusters of share-nothing commodity servers, we have the horsepower to make truly effective use of these techniques. Combine mobile devices, social media, and so on, and we have an opportunity to do amazing things."


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MSC Cruises has continued its U.S. expansion, opening a new home port in Galveston, Texas.
MSC Seascape will call in Texas from November 2025, becoming MSC Cruises’ fourth U.S. home port.
The line today (Jan. 11) opened sales for year-round sailings from the port, offering seven-night itineraries with Sunday embarkation.
From here, guests will sail the Caribbean, visiting Costa Maya and Cozumel (Mexico) and Isla de Roatan (Honduras) with the first departure set for Nov. 9, 2025.
“This announcement is the latest step in our strategy to continue to grow our U.S. footprint. Earlier this year we began operations from our third U.S. home port, New York City, where we now sail year-round, and we are proud to add Galveston to that growing line-up alongside PortMiami and Port Canaveral,” said MSC Cruises’ CEO Gianni Onorato, in a statement.
“We are committed to bringing our newest, largest, most innovative ships to the U.S. and are pleased that MSC Seascape will be more easily accessible to guests in central and western parts of the U.S. through Galveston, as well as to our guests internationally via the well-connected international airport hub of Houston.”
The 2,270-cabin MSC Seascape has 7,500 square feet of dedicated kids’ facilities and amusement options, including the ROBOTRON robotic arm ride, two LEGO rooms for ages 3-6 and 7-11, three different concept spaces for teens, a VR 360° Flight Simulator, VR motorcycles and the MSC Formula Racer.
The 5,800-passenger Seascape has six pools, 11 eateries, 19 bars and lounges and more.
PAX attended MSC Seascape’s naming ceremony at the Manhattan Cruise Terminal in New York City in 2022. Click here to read our onboard report.
For more on MSC Seascape and the sailings out of Galveston, click here.


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Huawei Now The Third Largest Chip Buyer In The World, Other Chinese Companies In Top 10
Market research firm, Gartner, has released its latest report whichÂ shows thatÂ Huaweiâ€™s semiconductor procurement spending increased by 45%, becoming the worldâ€™s third-largest chip buyer.
Samsung andÂ Apple still remain the top two chip buyers in the world. The two smartphone giants have been the top two global semiconductor buyers since 2012, with a total share of 19.5% in 2017.
According to Gartnerâ€™s estimates, Huaweiâ€™s semiconductor procurement expenditure in 2018 exceeded $21 billion, ranking more thanÂ Dell in theÂ world.Â However, Dellâ€™s own chip purchases also increased by 27%.Â Although Huawei faces some resistance in Western countries, the company has gradually become an important customer of chip companies.
In addition to Huawei, the number of chip purchases of other Chinese companies is also increasing. Four Chinese companies rank among the top 10 chip buyers in the world â€“ Huawei, Lenovo, Xiaomi and BBK (Vivo and OPPO) all penned their names in the top 10 chip buyers.
Overall, thanks to the continued integration of the PC and smartphone markets, the top 10 chip buyers for 2018 have a global market share of 40.2%, up from 39.4% in 2017.Â Gartner expects this trend to continue.
â€œThe top 10 semiconductor chip buyers are getting more and more market share, and chip vendorsâ€™/technology product marketers must allocate most of their resources to the top 10 potential customers,â€ said Gartner senior analyst Masatsune Yamaji.


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Thanks to a recent update earlier this year to search giant Google’s ranking factors, the web will hopefully soon be devoid of the giant content farms and scrapers that have plagued search results in recent years. Part 2.2 of the Panda update went live in mid-June as Google confirmed last week, so users should continue to see improved search results.
One of the most important aspects of this particular update is improved scraper detection. Up until now, there were a lot of sites out there that just scrape and re-publish content, and due to better (read: questionable) SEO practices, they ranked better in search results than the original content. Obviously this is a problem, and Google is working to address it.
It’s important to note, as Danny Sullivan at Search Engine Land does in a recent post, that Panda is not an actual update to Google’s algorithm, but rather, an additional ranking factor that is a part of the overall algorithm. This is very important to understand for businesses that have been impacted by Panda.
It appears that one of the largest companies to be affected by the Panda update, Demand Media, is already taking a hit from the changes. There is a lot of debate right now among SEOs as to whether or not some of Demand Media’s properties are content farms or legitimate content producers; I can definitely understand both sides, especially considering how much I enjoy Demand Media’s Cracked.com. As you can see from the chart below, one of Demand Media’s biggest properties, eHow.com, is already starting to suffer. You can see the dip in unique visitors in February when Panda was first released, and the steady decline happening starting after March that will most likely be even more drastic in months to come.
How do you feel about content farming sites? Have you ever received any meaningful information from one? Google is constantly improving search results by updating ranking factors in its algorithm, so I’m sure this will be a story to follow this year.
Jared is currently the Digital Marketing Manager at Millward Brown Digital. He is a graduate of Northeastern University, having achieved his B.A. in Communication Studies. If you like what you read, you can connect with him on Google+, Twitter, or on LinkedIn.


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(Reuters) – China is moving to take minority stakes with special rights in the local units of Alibaba Group Holding Ltd and Tencent Holdings Ltd, the Financial Times reported on Friday.
Seeking influence, Beijing began taking these stakes, called “golden shares,” in private online media companies – usually about 1% of a firm – more than five years ago. These golden stakes are bought by government-backed funds or companies which gain a board seat and/or veto rights for key business decisions.
An entity under the state investment fund set up by the China’s internet regulator last week took a 1% stake of an Alibaba unit in Guangzhou to tighten control over content at the ecommerce giant’s streaming video unit Youku and web browser UCWeb, according to the report, citing people familiar with the matter and public records.
However, the specifics of the government’s plan to take golden shares in Tencent remain under discussion, but they will involve a stake in one of the group’s main China operating subsidiaries, the report added.
Tencent and Alibaba did not immediately respond to Reuters’ requests for comment.
(Reporting by Rishabh Jaiswal and Mrinmay Dey in Bengaluru; editing by Uttaresh.V and Rashmi Aich)


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Shangri-La International Hotel Management Ltd, and Pacific Sanctuary Holdings Sdn Bhd today have announced the development of the first Hotel Jen in Borneo.
Opening in 2018, Hotel Jen Kota Kinabalu will be positioned in PacifiCity, an integrated shopping, entertainment and lifestyle hub located along the coastal highway in scenic Kota Kinabalu.
The announcement was made at a signing ceremony held at Shangri-La’s Tanjung Aru Resort & Spa, Kota Kinabalu.
Mr. KP Kuok, Executive Director of Pacific Sanctuary Holdings Sdn Bhd, said: “The Shangri-La Group was one of the pioneer investors in Sabah’s tourism industry and has attained a reputation as a highly regarded brand by Sabahans and visitors to Sabah alike. Hotel Jen Kota Kinabalu will be an extension of this, providing another strong brand to meet the new demand from business visitors and international tourists.”
“Tourism has provided Sabahans from all walks of life opportunities to find fulfilling employment and to develop professional careers. When counting indirect jobs, the industry is one of the biggest employers here. This is a significant reason why we decided to invest in hotels and resorts in Sabah. They bring long-lasting employment and benefits to the community,” Kuok added.
Mr. Greg Dogan, president and CEO of Shangri-La Hotels and Resorts, said: “The announcement of Hotel Jen Kota Kinabalu is extremely important for our organisation. We’ve built a strong presence in Kota Kinabalu and throughout Malaysia, and are delighted the newest brand in our portfolio reinforces our commitment to Sabah, Borneo and beyond.”
The Hotel Jen brand was launched a year ago, to cater to a new ‘Jeneration’ of independently minded business and leisure travellers.
Launching quickly with the first ten Hotel Jen properties opening in major cities in Asia Pacific in under one year, today’s announcement marks a significant milestone in the growth of the brand.
“The Hotel Jen experience delivers what matters most to guests. They appreciate important things done well; demand quality, comfort and value, together with honest, authentic service; and want privacy and efficiency without unnecessary fuss or intrusion. In this highly desirable location for business and leisure travellers, Hotel Jen is well positioned to offer guests to Kota Kinabalu more flexibility, as busy non-traditional work hours tend to blend the boundaries between business and leisure,” Dogan added.
Hotel Jen Kota Kinabalu will comprise twin towers, drawing its design inspiration from the surrounding environment and local culture, consistent with Hotel Jen’s style philosophy. The hotel will also boast resort-standard recreation and fitness facilities that are shared with the PacifiCity Club.
“We are excited to work with the Shangri-La group to bring Hotel Jen to Kota Kinabalu,” said Mr. Jonathan Wheeler, managing director of Pacific Sanctuary Holdings Sdn. Bhd.
“Hotel Jen Kota Kinabalu will be the jewel in the crown of PacifiCity, cementing the development as a premium integrated hub, benefiting all stakeholders, tenants and investors.”
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BSP: Lower rice, LPG prices kept inflation at bay in July
Prices of consumer goods and services are expected to have risen between 2.0-2.8 percent in July—with a bias toward the downside compared to the previous month’s 2.7-percent pace —due to the combined effects of lower rice and cooking gas costs, according to central bank economists.
In a statement, the Department of Economic Research of the Bangko Sentral ng Pilipinas (BSP) said the July inflation rate could have also been restrained by a downward adjustment in electricity rates.
At the same time, domestic prices of basic goods and services could have also felt the benefits of a strong peso, which makes imported raw materials denominated in foreign currencies cheaper to buy, the central bank’s economists said.
“These could be partly offset by higher prices of petroleum and food items during the month,” the central bank economists added.
The expected July inflation range is lower than the BSP’s forecast of 2.2-3 percent for June, which preceded the government’s official announcement of a tame inflation rate a few days later.
If confirmed, the benign price regime will allow BSP Governor Benjamin Diokno to resume the monetary easing that was put on hold last week after the surprise uptick in the inflation rate.
This latest forecast jibes with the monetary regulator’s expectations of the inflation rate for 2019 coming in at an average of 2.7 percent, revised lower from the 2.9 percent forecast set in May.
The forecast for the range of increase of prices of basic goods and services for 2020 was also cut slightly to 3 percent from 3.1-percent.
Meanwhile, banks’ reserve requirement ratio—currently the highest level in the region — came to the end of a staggered May-to-July process of being lowered to 16 percent from 18 percent. The BSP’s overnight borrowing rate, which influences the prices that banks charge on their retail and wholesale loans, was cut in early May by 25 basis points to 4.5 percent.
The inflation data for July will be released on Aug. 6.
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Apart from the Unicorn Ride deal we’ve seen on Groupon Malaysia which we all know was just for giggles, but there’s also a possibility that an internet deal that’s just too good to be true.
According to the National Consumer Complaints Centre (NCCC), about 400 complaints over deal sites in only four months.
NCCC’s deputy director, K. Ravin, about 61% of the complaints, filed between September and December last year, were about product quality, while other complaints included misleading information and problems with delivery or refunds.
“Many have found the products they bought to be not of the quality advertised. Some have also complained that the products turned out to be counterfeit,” expanded Ravin.
A lot of complaints with regards to misleading information of prices were common, especially for beauty and spa packages.
“For example, a facial package originally priced at RM2,000 is being offered at RM150. It sounds really good but when you get there, there are other things you need to pay for before you can get the package at RM150. In the end, the customer may still have to form out close to RM2,000,” he added.
Lawyer, Sankara Nair says that people need to aware of their rights under the Consumer Protection Act 1999, as the popularity of e-shopping and deal sites are steadily growing. And whether the transaction takes place over the Internet or face-to-face, the effect is still the same.
Section 10(1)(a) of the Consumer Protection Act states: “No person shall make a false or misleading representation that the goods are of a particular kind, standard, quality, grade, quantity, composition, style or model”.
“The sites are in the best position to know if they are getting their goods from a supplier of original products,” said Sankara. (Source)
Have you ever had any troubles with deal sites and buying things over the internet? Share your stories with us in our Forum.


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The official Manila TokuSpirits Convention 2023 Facebook page announced the guests for the upcoming event.
TokuSpirits announced that a convention of all things tokusatsu will happen in the Philippines this year.
TokuSpirits announced the Jet30 Online Q&A and Signing Event, an event that commemorates Choujin Sentai Jetman's 30th anniversary.
After years on hiatus, it was announced that HenshinCon and Toku Spirits will make its return, now as an online event! Now under the name HenshinCon x Toku Spirits Online, the guest of said event was also announced.
The last two Super Sentai guests for Philippines' TokuSpirits 2017 event was announced at the page's official Facebook page.
The initial guest for Philippines' TokuSpirits 2017 event was announced last February 5th at the Otaku Expo 2017 event.
The official TokuSpirits Facebook page posted a new teaser trailer, which features the event's legendary fourth guest!
The official TokuSpirits Facebook page posted a teaser image that could possibly feature the event's 4th mysterious guest.


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Are Slurpee cups recyclable?
What about plastic cups such as Iced Coffee, Slurpee mega & super and Slurpee lids? These plastic cups and lids are already recyclable and can be placed in co-mingled recycling bins (general household/commercial recycling).
Are 7 Eleven cups recyclable?
The new initiative comes in addition to their year-old cup recycling program that has helped reduce the company’s footprint. This new program will make sure non-biodegradable items such as straws, cups, and lids will find their way into a recycling facility – instead of into the ocean.
Are cold drink cups recyclable?
On the chill side, most plastic cold cups and their lids are recyclable, but plastic straws are a no-no for the recycling bin because they’re too small to make it through the sorting equipment. … Do recycle: plastic hot cup lids, (most) cold cup lids, (most) plastic cold cups and cardboard sleeves.
Can beverage cups be recycled?
If yours is reusable, wash it and reuse it. But if it is cardboard, plastic, plastic foam, or any other “disposable” substance, dispose of it and the plastic lid in the trash, not the recycling bin. … Fast-food soda cups, plastic lids, convenience-store cups and similar products should not be recycled.
Can you recycle Hungry Jacks cups?
Each venue will provide a Recycle Me waste bin for users to dispose of their cups. … “We’re excited to be trialing Detpak’s Recycle Me System in 20 of our stores across New South Wales and Victoria,” Hungry Jack’s Director of Brand Claudia Cullen stated.
Can Wendy’s cups be recycled?
The new cup set will launch in U.S. and Canada restaurants in early 2022 with the initial set of large cups using recycled plastic; all drink cups will use recycled plastic in 2023. This important first step is estimated to divert 10 million pounds of waste from landfills over the first two years.
How do they recycle coffee cups?
If you absolutely get stuck and you’re not willing to have the coffee poured directly into your mouth by the barista, then at least recycle the plastic lid, and ensure the cup is disposed of in a general waste bin – so as not to contaminate other recyclable materials.
Can you bring your own coffee cup to 7 11?
All cups must be leak-proof, safe, sanitary and fit upright within the in-store BYOC display cutout, which is about 10 inches in diameter. Sorry, trash cans, kitchen sinks and sleighs are not eligible. The cost to fill any “cup” of choice, regardless of size, is $1.49, the price of an average medium Slurpee drink.
What is 7-Eleven’s commitment in numbers for recycling coffee cups?
Angus McKay, 7-Eleven chief executive officer, said 7-Eleven is committed to helping the community recycle 70 million cups each year, the equivalent to the number sold in-store.
Can you recycle plastic fast food cups?
Recyclable? Only curbside recycling programs will take these, so long as they’re rinsed and clean of any food. Do not throw in general recycling. Takeaway containers in this form can be recycled through curbside recycling programs.
How do you dispose of fast food cups?
Recycle empty paper cups in your blue cart or community recycling depot, including: Coffee cups and sleeves (example: Tim Hortons, McDonalds) Fast food drink cups. Paper soup containers.


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Stay on Top of Enterprise Technology Trends
Get updates impacting your industry from our GigaOm Research Community
Facebook’s first high-profile acquisition is chugging along: Instagram said a blog post Tuesday that it’s surpassed 200 million monthly active users, up from 100 million just one year ago. According to the post, 50 million of those users were acquired in the last six months, and now roughly 65 percent of the user base is outside of the United States. In an email to Gigaom, the company disclosed that users share roughly 60 million photos per day, and 20 billion photos to date. The user base growth is a good sign, as Instagram continues to pursue monetization opportunities and ad partnerships.


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We sold some stocks in the Global Portfolio last week (before the sharp selldown in the US markets on Tuesday), primarily to raise our cash holdings. Following the disposals, cash now accounts for roughly 43% of total portfolio value. To be sure, the US and global stock markets have seen more stability in recent weeks, recouping some losses from the steep selloff in 2Q2022. However, we are cautious that markets may still have more downside risks from hereon, including from weaker corporate earnings.
Although earnings expectations in the US have seen some downward revisions following the latest reporting season for 2Q, the 5.5% reduction for 3Q estimates from end—June is relatively modest. Furthermore, average net margin for S&P 500 companies, though slightly pared down, remains high at 12.3%, in part, because macroeconomic conditions in the US remain quite strong. However, the probability of a global recession is rising, especially in Europe, which is facing an energy crisis. Eventually, weaker global growth will feedback negatively into the US economy and corporate earnings and margins (according to FactSet, 40% of S&P 500 revenue are derived from overseas).
As we have previously explained, US households are, on average, in (too) good financial shape and consumers have kept spending, even as inflation rises. Plus, the labour market is still very tight, with approximately two job openings for every unemployed worker currently. Workers are demanding higher wages. Unemployment rate, at 3.7%, has barely budged and is still near 50-year lows. This is partly attributable to low labour participation rate, currently 62.4%, which remains below the pre-pandemic level of 63.4% in February 2020.
All these are, no doubt, complicating the job of the US Federal Reserve, which needs to lower demand for goods and services, and bring down inflation. The central bank may be laying the groundwork for a third consecutive 75-basis-point rate hike in its upcoming policy meeting, slated for Sept 20-21 — if only to ensure future expectations for inflation remain anchored. Indeed, we believe it will err on the side of caution — including inflicting economic pain — to prevent the possibility of a wage-price spiral, as what transpired through the 1970s. (We will write more on why we suspect the current supply-demand imbalance — in the labour market and broader economy — will lead to recession, perhaps stagflation, next week)
We think the current optimism that the US economy would emerge largely unscathed may be misplaced. Interest rate hikes take time for their impact to filter through the economy. Quantitative tightening (QT) has only just begun — in June 2022, and stepped up in September. Although the pace and quantum of QT is far more gradual and in smaller amounts than the two years of quantitative easing (QE) during the pandemic, reduction in liquidity must have some reversal effect on asset prices.
One of the stocks we disposed of was Airbnb. We like the company, as a beneficiary of reopening and recovery in travel demand. And it did deliver its most profitable 2Q results yet last month. Revenue grew 58% y-o-y and was up 73% from that in 2Q2019, driven by pent-up demand in North America and Europe. Demand from the Asia-Pacific region remained depressed. Average daily rate (ADR) for bookings was 40% higher as compared to 2Q2019, thanks to price appreciation and better sales mix. Airbnb’s operating income improved from a loss of US$51 million in 2Q2021 to a profit of US$383 million in the latest quarter — handily beating market expectations. The company guided for another record revenue for the current 3Q2022.
Despite the upbeat results, however, its share price had stayed quite flattish — likely due to prevailing negative sentiment for highgrowth stocks, even profit-making ones. Airbnb’s valuations are higher than the market average, estimated at about 40 times earnings for 2023. As mentioned above, we think the Fed will lift rates beyond current market expectations, and keep them there for longer. If so, sentiment for growth stocks could remain downbeat in the foreseeable future.
We also sold off our holdings in Bank Rakyat Indonesia, for a small loss. Its loan book in 1H2022 grew 9% y-o-y, driven by a 15% y-o-y increase in micro and ultra-micro loans. Net interest income grew at an even higher rate of 18% y-o-y, on the back of wider net interest margin. Combined with a 24% y-o-y fall in provision expenses, the bank’s net profit was up 98% y-o-y. In short, the bank is doing well so far — but we are cautious of the potential for a bigger fallout from rising US interest rates on emerging market currencies and economies.
Meanwhile, earnings for Chinese companies are hit by the country’s stringent Zero-Covid policy where new outbreaks and lockdown measures are continuing to affect tens to hundreds of millions of its population at any point in time. It is hurting consumer confidence and spending, and raising pressure on businesses, large and small. The sudden lockdowns, quarantines and mass testing are very disruptive and costly to business operations. China has since abandoned its modest 5.5% GDP growth forecast for the year.
We sold our holdings in Chinasoft, whose profits fell in 1HFYDec2022, hit by weaker margins as a result of the difficult operating environment. The company’s key customer, Huawei, reported a 52% drop in profits in the first half of this year, and intends to scale back non-core businesses to preserve profits and cash flow. As such, Chinasoft, which provides IT outsourcing services to Huawei, would face some headwinds in the near term.
Alibaba’s revenue in 1QFYMar2023 was flattish y-o-y, while its operating profits fell 19% y-o-y — as Covid-19 restrictions affected contributions across most business segments. Profits from biggest income contributor, the China commerce segment, fell while losses from logistics outfit (Cainiao), digital media and entertainment as well as innovation initiatives and others widened in the quarter. The e-commerce business was affected by supply chain disruptions in April and May. Gross merchandise value (GMV) generated on Taobao and Tmall declined 5% during the quarter. Although there were signs of improvement beginning in June, renewed widespread lockdowns in parts of the country will prove a challenge.
Positively, losses from its local consumer services segment narrowed, from RMB4,770 million a year earlier to RMB3,044 million in 1QFY2023, due to improved unit economics per order for its food delivery business. Ele. me’s economics per order turned positive during the quarter, thanks to higher average order value, lower delivery cost per order and optimisation in user acquisition spending.
On the other hand, revenue growth for the cloud segment was affected by the loss of one of its top internet customer ByteDance’s international business as well as softening demand from customers in China’s internet and education industries. The 10% y-o-y revenue growth for the segment was mainly contributed by non-internet industries such as financial services, public services and telecommunication industries. Operating earnings fell 27% y-o-y to RMB247 million due to investments in technology, as well as increases in co-location and bandwidth costs.
We are uncertain if and when China will shift from its current hard stance on the pandemic. But Alibaba will be a main beneficiary of any government stimulus measures for consumer spending and easing of restrictions, with more than 900 million annual active customers in China. Plus, valuations are low. The company’s current enterprise value of RMB1,232 billion is only 7 times its China commerce segment’s TTM adjusted earnings of RMB175 billion.
Following the sale of Airbnb, our only remaining US stock holding is Apple. Apple’s revenue in 3QFYSep2022 grew 2% y-o-y on the back of 12% y-o-y growth in services revenue and 1% y-o-y decline in product sales. iPhone sales, which contributed around half of the company’s revenue, were resilient during the quarter, growing 3% y-o-y. Sales of Mac and tablets declined 10% and 2% respectively, due primarily to supply chain constraints caused by the Shanghai lockdown. The only notable slowdown in demand was from its wearable, home and accessories sales, which dropped 8% y-o-y.
Increases in subscription numbers drove the double-digit y-o-y growth in services revenue. Total number of paid subscriptions across Apple’s platform hit 860 million in 3QFY2022, up 160 million y-o-y and 35 million q-o-q, as the company continued to improve the breadth and quality of offerings on Apple TV+, Apple Arcade, iCloud and Apple Music. Services revenue from China also grew strongly during the lockdown as people spent more time at home. There was, however, a slowdown in digital advertising during the quarter due to the macroeconomic environment.
For more stories about where money flows, click here for Capital Section
Despite higher revenue, Apple’s operating income fell 4% y-o-y mainly due to a 19% y-o-y increase in research and development expenses and an 11% y-o-y increase in selling, general and administrative expenditures. CEO Tim Cook indicated that the company will continue to invest through the downturn but will be more deliberate in doing so.
Looking forward, a slowdown in the global economy and strengthening of the US dollar will hurt overseas contributions for multinational companies. Nevertheless, we think Apple’s loyal and higher-income customer base should fare better than many of its peers. This is evident in gains in iPhone sales, which bucked the broader downtrend — global smartphone shipments fell 9% during the June quarter.
With over 1 billion unique iPhone users and 1.8 billion installed devices, Apple has a large pool of potential customers for its subscription services. Contribution of services to overall revenue has been increasing, from 14% at end-2019 to 21% in the latest quarter. Increasing contributions from services can improve the company’s profitability in the long run due to its higher gross margin (71% in 3QFY2022) as compared to the products segment (35% in 3QFY2022).
The Global Portfolio declined 0.5% for the week ended Sept 14, led by losses from Guangzhou Automobile Group (-3.5%), Commercial Bank for Foreign Trade of Vietnam (-2.1%) and Apple (-0.4%). On the other hand, DBS Group Holdings (+3.3%) and Yihai International Holding (+0.6%) closed higher for the week. Total portfolio returns since inception now stand at 19.6%, trailing the MSCI World Net Return Index’s 34.9% returns over the same period.
Disclaimer: This is a personal portfolio for information purposes only and does not constitute a recommendation or solicitation or expression of views to influence readers to buy/sell stocks, including the particular stocks mentioned herein. It does not take into account an individual investor’s particular financial situation, investment objectives, investment horizon, risk profile and/ or risk preference. Our shareholders, directors and employees may have positions in or may be materially interested in any of the stocks. We may also have or have had dealings with or may provide or have provided content services to the companies mentioned in the reports.


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You've seen it added to cereal boxes, gallons of milk and bottles of orange juice. Experts tout its benefits -- from strong bones to a strong immune system -- and warn of the dangers of Vitamin D deficiency.
The public relations push is working; between 2002 and 2011, sales of vitamin D supplements increased from $42 million to $605 million, according to the Nutrition Business Journal.
New recommendations from the U.S. Preventative Services Task Force could bump those sales even higher, or -- if critics are right -- confuse consumers as they head down the pharmacy aisle.
After completing a review of existing research, the USPSTF, an independent panel of doctors and experts in prevention and evidence-based medicine, is advising against taking moderate amounts of Vitamin D and calcium supplements because there is not enough evidence to prove the supplements reduce the risk of bone fractures.
More specifically, the USPSTF is recommending against supplements of Vitamin D in daily doses of less than 400 IU (international units), and calcium in daily doses of less than 1,000 milligrams for post-menopausal women.
Doctors currently recommend these supplements for women to prevent fractures; approximately 56 percent of women aged 60 years and older take supplemental vitamin D, and 60 percent take a supplement containing calcium, according to the USPSTF report. The report was published in this week's edition of the Annals of Internal Medicine journal.
The task force found evidence that Vitamin D and calcium supplements increase the risk of developing kidney stones in this population, and insufficient evidence to show that the supplements reduce the risk of fractures.
Basically it boils down to this: "Don't take modest doses, they don't do any good," says Dr. Virginia Moyer, chair of the USPSTF.
More research is needed, Moyer says, to determine whether higher doses of Vitamin D or calcium would prevent fractures in older men or women. She says the task force will be looking in the future at whether doctors should be screening for Vitamin D deficiencies.
The USPSTF's recommendations don't apply to those who are prone to falling, according to the report, or those who have a history of fractures, a documented Vitamin D deficiency or a diagnosis of osteoporosis.


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STOCKHOLM — Bitcoin is making an art critic out of the Swedish taxman.
The largest Nordic economy is set to reject Bitcoin and its competitors as a currency and instead give the software the same tax treatment it would an antique Persian rug or a painting by Andy Warhol.
"Currencies are traditionally tied to a central bank or a geographic area," Olof Wallin, an official at the Swedish Tax Agency who's drafting rules for Bitcoin and the programmers who generate it, said in an interview. The Stockholm-based agency will probably "view Bitcoins as what we call another asset — just like art or antiques."
Since its 2008 creation, Bitcoin has challenged assumptions of what money is. It's also captured the attention of regulators, who are struggling to keep up as people use the software to pay for everything from university tuition to cups of coffee to senate campaign donations.
Sweden is leaning toward an interpretation of Bitcoin that will allow the nation to charge capital gains taxes on any transactions using the software.
Across the Nordic region, where stable AAA governments have been at the forefront in tightening bank regulation, authorities are grappling with the concept of Bitcoin. In Norway, the tax department has decided to label it a taxable asset. Finland plans to treat it as a commodity while Danish regulators are drafting a proposal for lawmakers in an effort to protect consumers and businesses from losses.
Sweden's central bank raised concerns in June that Bitcoin and its competitors may pose risks to those using it as a payment method. The European Banking Authority echoed those concerns in December, warning that people using the software do so at their own risk.
This month, Sweden's biggest Bitcoin exchange, Kapiton, was reported to the police and the National Board for Consumer Disputes after a number of users alleged their money had disappeared.


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Haikou, China — Observers see the huge expo featuring luxury brand name products being held here on Hainan island from May 7-10 as part of a larger campaign orchestrated by Chinese leader Xi Jinping to develop “China’s Hawaii” as a free trade zone that will rival or even replace Hong Kong.
The First China International Consumer Products Expo, cosponsored by China’s commerce ministry and the Hainan provincial government, sprawls over 800,000 square meters. On display are some 2,600 foreign brands representing some 69 countries and regions. The mammoth undertaking aims to be nothing less than the largest consumer goods expo in the Asia-Pacific region, with more than 200,000 foreigners expected to attend.
Chinese president Xi Jinping has shown a personal interest in the success of the event. The Chinese government would like to see Hainan transformed into a free trade magnet and locus for new economic development.
On May 6, Xi sent a congratulatory message to the Expo in which he said the event would be “conducive to the sharing of opportunities in the Chinese market by countries around the world, and will be positive for the recovery and growth of the world economy.”
Hainan is a large island—slightly smaller in size than Taiwan—in southernmost China, not far from Vietnam. It is mostly rural, although in recent years beach resorts have been developed along the coast and it has been promoted as “China’s Hawaii.”
Xi’s order to push development of Hainan appears to be partly in response to the strong lingering resistance in Hong Kong to Beijing’s rule. This month’s Expo is seen as part of that drive.
Actually, in June 2020, the Chinese government released a master plan to build the island province into a globally influential and high-level free trade port by the middle of the century. Part of that plan calls for Hainan to receive special preference so that by 2025, with few exceptions, all duties on foreign goods will be reduced to zero.
As part of the pitch to foreign investors, regulations on foreign capital will also be relaxed. In other words, Beijing wants Hainan to become a “second Hong Kong.”
Especially notable are the duty free-related measures adopted to lure tourists to Hainan. In July 2020, the total amount allowed in annual duty-free purchases was raised from 30,000 Rmb (roughly $4,700 USD) to 100,000 Rmb (about $15,550 USD).
With affluent Chinese tourists barred from traveling overseas due to COVID-19, they have been flocking to Hainan to snap up discounted luxury goods. As a result, duty free shops have been springing up one after another.
Target: Hong Kong
Also, obviously very much on the minds of the Chinese authorities is the existence of Hong Kong, less than 300 miles or one hour by air from Hainan.
The Hong Kong media is reporting the quickened development activity in Hainan as part of a plan to replace Hong Kong as a shopping and tourism mecca, as well as a financial and trade center.
The Chinese government denies this, contending the idea is to “complement not compete”. A government spokesperson says, “The free-trade area of Hainan will have a different status, unlike that of Hong Kong.”
However, the plan announced in April of this year to open financial services based in Hainan to foreigners would appear to indicate that Hong Kong remains very much on the minds of decision makers in Beijing.
Nevertheless, there are doubts as to whether Hainan can really compete with Hong Kong. An employee of a Japanese company attending the Hainan Expo complained, “Hainan Island is lacking in competent people who can speak English.”
Be that as it may, with Xi throwing his formidable weight behind the plans for Hainan, the pressure on Hong Kong, especially its business world, is expected to increase.
Japan Brands on the Move
Shiseido, Omron and nearly 90 other big name Japanese brands are participating in the Hainan Expo. With COVID having shut down purchases overseas by free-spending Chinese tourists and Xi having given the Hainan Expo his blessings, makers of luxury brands and other Japanese companies see the trade fair as a prime opportunity to highlight the appeal of Japanese brands.
Shiseido Company, Limited, for example, is exhibiting here. Shiseido plans to introduce its luxury skin care products line “The Ginza” during 2021, and it had samples of it and other products prominently on display. A male Chinese marketing distributor, who was eagerly asking a Shiseido rep questions, remarked, “We’re certainly interested in Japanese products.”
The Japan External Trade Organization (JETRO) established an exhibition hall at the Expo in which products from 19 Japanese-owned companies will be on display. In addition to such items as Japanese food products and cosmetics, the major convenience store chain Lawson, Inc. is exhibiting its goods. Although Lawson has been operating in the Chinese market for some time, it just opened its first Hainan store last year.
A JETRO employee says, “There’s the fact that because of COVID-19 Chinese can’t go to Japan, even though interest in Japanese products is growing.”
Naoko Hase, head of the Corporate Strategy Division at Shiseido China, states emphatically, “We believe that Hainan Island will give a big boost to the expansion of consumption.”
Whereas as of the end of this March, there were 34 duty free shops operating on Hainan Island, by the end of the year that total is projected to increase to more than 50.
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Author: Shohei Mitsuka


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Updated: March 17, 2021 08:00 AM
Created: March 17, 2021 07:47 AM
(ABC 6 NEWS) - It's St. Patrick's Day, and some local businesses are getting ready for the holiday. At one Rochester restaurant, you can practically step inside of Dublin, Ireland.
At the Olde Brick House in downtown Rochester, everything from the decor to the seating was all built-in Dublin, Ireland, so if you want to get in the St. Patty's Day spirit, this is just one place you can do it.
This is the Olde Brick House's first St. Patrick's Day in their Rochester location. They opened this past November.
While they cannot have a big celebration for the holiday, the restaurant is giving people a more traditional St. Patrick's Day, with foods like shepherds pie and Guinness stew and drinks such as Jameson and Guinness.
"Being that everything came here from Dublin, Ireland, we still wanted to celebrate St. Patrick's Day kind of their style. We are happy to be apart of the community, and you know, look forward to what the summer brings," said Olde Brick House Director of Operations, Paula Rathman.
The Rochester Downtown Alliance also created a list of its Pot of Gold St. Patrick's Day activities and things you can do to help support local businesses.
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DEMO hits Silicon Valley on Tuesday!
We’ve got an blockbuster lineup of companies — about 80 of them — set to demonstrate new products.
We’ve also got a star lineup of investors, executives, and entrepreneurs to provide feedback. Others, including the CEOs …
The DEMO Spring 2012 conference kicked off Tuesday in Santa Clara, Calif. The bi-annual event gives startups the opportunity to launch their products in front of an audience of innovators, influencers, investors, and journalists. Th... Read Post
Okay, I admit it: I let loose and danced a little last night. After a year of planning, globetrotting, meeting entrepreneurs, and looking for the best new technologies in the world, it was finally time to celebrate. DEMO, the confer... Read Post


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A brand new box!
Ladies and gentlemen, the brand new, state of the art new Folk in a Box is going into construction this week! It has been designed by architects David Knight and Cristina Monteiro and is being built by artisan carpenters. It’s going to be spectacular. We are very, very, very EXCITED! We will be showing off our brand new box in London and Stroud in January. We’ll keep you posted on that one…..Oh, and the new box is going to double up as a WHISKEY BAR!


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Accelerating Women Entrepreneurship In India Can Generate 150–170 Million Jobs: Bain And Google Report
Realising this potential will account for more than 25 per cent of all new jobs needed by2030
Photo Credit : glassceiling.com
Women in entrepreneurship can generate transformational employment in India and generate 150–170 million jobs, which is more than 25% of the new jobs required for the entire working-age population by2030, according to a joint report by Bain & Company andGoogle titled “Women Entrepreneurship in India –Powering the economy with her” –released today. The report underlines the need to accelerate efforts to grow women entrepreneurs in India in both quantity and quality to solve employment challenges in the country.
The report highlights the unprecedented opportunity India has, as it soon grows into a nation with the largest working-age population in the world, by focusing on growing the overall base of women entrepreneurs as well as enterprise quality. It presents women entrepreneurship, as a vital component to boost the economy through job creation as the private and government sector alone has not been sufficient in generating the required jobs.
The report identifies six dominant segments of women entrepreneurs and estimates India to have 13.5–15.7 million women-owned enterprises, representing approximately 20% of all enterprises today.In many cases, women are named as owners for financial and administrative reasons with no active role to play, which overstates true entrepreneurship amongst women. Of all women-owned enterprises, a majority are single-person enterprises, with the largest group represented by rural non-farm home-based business owners at 38% followed by urban self-employed women solopreneurs at 31%, who usually work from home. The other dominant segments include rural agripreneurs who are farm-based business owners at 18% and small business owners at 14% -split across urban (6%) and rural (8%), employing less than 10 employees and contributing most to employment generation. Finally, there are the scalers, who employ more than 10 people and account for less than 1%. In total, these women entrepreneurs provide direct employment to an estimated 22 to 27 million people today.
The report projects an opportunity to accelerate both quantity and quality of entrepreneurship to create over 30 million women-owned enterprises out of which 12 million can generate employment.
Commenting on the report, Megha Chawla, Partner Bain & Company and the lead author said, “In spite of India’s economic progress in the last decade, women’s participation in the labour force has declined and is expected to be under pressure due to labour trends, technological disruption and constraining social barriers. Unlocking entrepreneurship amongst women in India is a complex effort, but it provides an unprecedented opportunity to change the economic and social trajectory of India and its women for generations to come. This will drive tremendous job creation and also deliver transformational social and personal outcomes for women.”
Speaking about the effort, Sapna Chadha, Senior Country Marketing Director, Google India and Southeast Asia, Google said, “At Google, we have been investing in scaled skilling efforts across SMBs, Startups and overcoming the digital gender gap in the country through the Internet Saathi program. Across all our programs, we have seen that women are hungry for opportunities to grow their household incomes. Hundreds of women in rural India want to learn more about doing business and many have already made the start to enhance their livelihoods. We are already running a pilot accelerator program for rural entrepreneurs from our Internet Saathi network. This joint effort/report with Bain is a start to better understand the barriers facing the various types of women entrepreneurs across India and find synergies with like-minded companies and the government to accelerate women entrepreneurship in India.”
The report outlines the following four opportunity areas to unlock the potential of women and entrepreneurship in India:
* Level the playing field for the high-impact, employment-creating entrepreneurs
* Enable the willing middle—the ambitious solopreneurs and small business owners—to scale and become high-impact entrepreneurs
* Expand the funnel to get more women to start enterprises
* Build, strengthen and scale productive rural agripreneurs
Sri Rajan, Partner Bain & Company and co-author of the report said, “Implementing these interventions to accelerate prospective and current women entrepreneurs will need a deep recognition of the urgency and a multi-year coordinated scaled effort between various ecosystem participants. These include national and state governments, grass-root organisations, investment and banking communities, other private enterprises, educational institutions and the media. This report is a start and is the compass needed to consolidate and coordinate efforts across high impact areas.”
The report provides rich insights into the motivations, advocacy and constraints across the six distinct types of women entrepreneurs and outlines the following challenges:
* Access to finance impacts nearly every entrepreneur across segments, but it manifests in the form of disparity in the investor ecosystem for the scalers, and lack of information and absence of tailored products for rural and urban solopreneurs.
* Scalers are disadvantaged due to exclusion from networks, especially informal ones, but for urban solopreneurs, it is about not having had the opportunity to create a network of any sort.
* Rural agripreneurs is a distinct segment, which is here to stay and can be a critical catalyst of the modernisation of agriculture.
* Across all segments, women face cultural constraints that continue to stall advancement. These manifest in the form of denial of the social permission to work and for those that work, gender biases and expectations that persist widely.
Methodology Bain and Google had in-depth conversations with more than 60 women entrepreneurs, organised multiple focus group discussions and conducted a granular survey with more than 1,100 women across rural, semi-urban and urban India.


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Project CommUNITY: Being a Black business owner
It's been a trying time for business owners in general, but for Black business owners there are sometimes extra challenges to overcome.
"When we open up a business, a lot of us are opening businesses in survival mode. A lot of us are opening businesses to fulfill a dream. A lot of us are opening businesses because we don't feel valued where we're working at a company," said Nachand Trabue, owner of Manhattan on Broadway event venue.
Trabue recently hosted a Black business fair to give businesses a central location to advertise and sale their products.
"We're changing the way people look at Black-owned businesses, and we're changing the perspective of Black-owned business professionals period. We're not competing. We're collaborating," said Trabue.
There are stigmas associated with Black businesses, almost more so in the Black community. For example, there's a belief there's a lack of professionalism or services are overpriced, but Trabue says a lack of resources and mentorship is sometimes the reason for those beliefs.
"I wish people knew that our businesses are not handed down to us from generation to generation to generation. That's not the case," said Trabue.
It can be expensive to get a business up and running. Darryl Goodner, co-owner of Louisville Cream, knows that all too well. His business, known for its unique ice cream flavors, has a solid customer base and strong Instagram following. Goodner says he's grateful for those who invested in him and his business.
"Five rich white men own everything in the city, and that's just fact when you really look at that money. A handful of people own everything and a lot of people don't get the chance or opportunity that I've had," said Goodner.
Goodner's business is in NuLu, and this summer, blocks away from the Breonna Taylor protests.
"The morning that David McAtee died, I was at work and I couldn't work. I had to go out there, and it wasn't just me, my staff as well," said Goodner.
He used his platform to make it clear where he stood on racial justice, and was unapologetic.
"When I was like posting about protesting and Breonna Taylor, like that honesty, people appreciated it, but also a lot of people didn't," said Goodner.
Goodner says he wasn't afraid to alienate any customers, because he was doing the right thing, but there's a lot of pressure for Black businesses. University of Kentucky graduate Larod King just opened a new business in St. Matthews called "Shake it Lou."
"I worked corporate three to five years at Amazon, great company. Jeff Bezos started a business out of his garage. I'm like OK, it's this now. If he can do that. I can do that. If I'm going to work 14-16 hours for myself. I'm going to work 14-16 hours for myself," said King.
King, a former college athlete, didn't have his business or financial backing passed down to him. His wellness shake company is one of three locations owned by him and his business partner.
"As a young, Black entrepreneur, I want other young kids, Black, white, it doesn't really matter. I guess because I'm a military brat, I had to adjust to different races and cultures. You have to accept people for who they are," said King.
King says he would never use his race as a reason to why he cannot succeed. His hope is that seeing a Black business owner and supporting them becomes a normal thing.


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Gilbert's Heliae Development opens first commercial facility
Gilbert’s algae-based technology company Heliae Development LLC has begun operations at its first commercial facility, designed to produce nutraceutical and personal care products.
The facility will expand its commercial production in 2014 to therapeutics and agroscience products.
“The startup of this plant represents a significant milestone for Heliae, but it’s just the beginning,” said Dan Simon, Heliae’s president and CEO, in a statement. “We are now demonstrating both the scalability of our technology platform and the economics of our approach. This step unlocks a robust pipeline of international projects that will allow us to further expand our footprint globally.”
The company announced in July it had raised $28.4 million from existing and new investors to help pay for this next-generation commercial algae facility on its 22-acre campus near Gilbert and Germann roads.
Heliae and Triton Health and Nutrition, a division of San Diego-based Triton Algae Innovations, partnered last week to bring a new generation of therapeutics to market.
Heliae announced in May it was partnering with The Clarecastle Group to brand its own novel health and beauty products.
The company’s investors include select members of the Mars family, the ASEAN-based global conglomerate Salim Group, through one of its subsidiaries, Agri Investments Pte Ltd, and Thomas Edelman.
“With this facility, Heliae is delivering on the vision that was outlined almost six years ago,” said Frank Mars, Heliae’s co-founder and board chairman, in a statement. “This milestone would not have been possible without the dedicated and focused efforts of our team, as well as the continued support of our local partners, including Science Foundation Arizona, Arizona State University and the Town of Gilbert.”
Hayley Ringle covers technology and startups for the Phoenix Business Journal.
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The 2022 results show 68% increase of trade turnover between Russia and the UAE thus reaching a record level of 9 billion dollars”, as Deputy Prime Minister and Minister of Industry and Trade of the Russian Federation Denis Manturov told in the frames of IDEX 2023 in Abu Dhabi. According to Manturov, in 2022, exports from Russia to the UAE amounted to 8.5 billion dollars (+71%) and imports – to 500 million dollars (+6%).In 2021, the trade turnover between the two countries amounted to 5.36 billion dollars.
"Partnership between our countries is on the rise, and this positive trend is reflected in the statistics of Russian-UAE trade.According to our data, 2022 trade turnover between Russia and the UAE reached 9 billion dollars.It is a record level in the history of relations between our countries.
The UAE has retained its first place among the countries of the Arab world in terms of trade with the Russian Federation," Denis Manturov said.
See the most notable UAE business news online in the Telegram channel - Russia-UAE Trade House
(TASS, February 20, 2023)