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BEIRUT: Signature MENA tech event ArabNet celebrates its 10-year anniversary, a decade since it began its journey in Lebanon’s capital, with thousands of attendees, hundreds of forums and speakers and a knockout selection of exhibitors, expected this year.
Over the last decade, ArabNet has organized 25+ events in Beirut, Kuwait, Dubai, and Riyadh, released 20+ in-depth reports on the different sectors of the MENA ecosystem, and has provided up-and-coming startups with a chance to grow and achieve high levels of success through competitions.
This year, ArabNet Beirut 2019 will be bigger than ever, gathering 3000+ corporate executives, government leaders, entrepreneurs and digerati under one roof. The event will also bring together 250+ experts and speakers from around the globe, covering a range of topics, including Launchpad for startups and investors; Ad/Edge for digital media and advertising, and Finverse for digital banking and fintech, the company said.
"We are very proud that ArabNet is turning golden this year and what an incredible journey a decade working to build the tech and startup ecosystem in the Middle East from the earliest days. We hope we will be able to be part of many more success stories and helping the industry grow for the next 10 years to come," Omar Christidis ArabNet founder and CEO told Annahar.
The company noted in its statement that ArabNet Beirut will also continue to be the leading platform for budding talent to present their ideas, startups, hardware innovations and marketing talent through Arabnet’s long-running competitions:
Expected this year: the always-anticipated Startup Battle, which will select the top three startups from Beirut to compete against the best in the region at the Startup Championship for a shot at winning $20K, an acceleration scholarship in Silicon Valley, along with in-kind prizes; the popular Ideathon, which brings together aspiring entrepreneurs to showcase their innovative ideas; and the Creative Combat showcasing budding marketing talents’ ability to develop unique online campaigns.
ArabNet also announced for the first time this year, the event will feature a Startup Showcase, bringing together 100 startups from Lebanon and beyond to exhibit and connect with industry experts and more than 100 investors.
Between now and June the program is expected to grow even more, and the startup candidates and speakers will be announced later this spring.
The program will be “also decked out with satellite events, happenings, activations, and parties linking together friends, colleagues, stakeholders, business attendees, and students to celebrate a decade of ArabNet events, paving the way to more growth and innovation,” the company said.
With the Central Bank’s circular 331, promulgated in 2014, acting to leverage investment of over $600 million in seed capital, along with active VC funding in Lebanon, and the increasing local cohort of incubators and accelerators, things have been happening to the tech and startup ecosystem in Beirut.
It has been described as a game changer. ArabNet has reported at least 200 startups in Lebanon and growing.
There are challenges, but given the right alignment of stars, along with the local talent level and the new concepts arriving to market, Beirut has the potential to become a strong regional tech-hub.
ArabNet has been a key part of the ecosystem.
According to Arabnet Business Intelligence, more than $950M was invested in MENA tech startups in 2018. For that reason, Launchpad will gather key regional investors, government leaders, and successful startups to highlight the changing tech landscape as well as emerging trends and opportunities. It will also feature investors from around the world tackling the latest trends in the global technology sector.
Technology in marketing has become critical in targeting, reaching and engaging consumers – and driving sales. Advertising campaigns are increasingly powered by data: brand-collected, agency and third-party. Additionally, Influencers continue to play a key role in the marketing value chain, with 94 percent of the brands, agencies, and retailers finding influencer marketing beneficial, according to Liniqia.
Ad/Edge tackles how brands, agencies, and publishers are adapting their strategies to keep up with cutting-edge technologies and consumer behaviors, and the structural changes that are reshaping the industry as a result.
According to ArabNet Business Intelligence, regional funding to fintech companies hit over $250M from 2012 until 2018. As the impact of technology on financial services deepens, banks are adopting new strategies to stay innovative, and partnering with fintech startups to develop and deliver new service offerings. Finverse will explore the latest trends and opportunities in fintech and banking innovation, diving into chatbots and Roboadvisors, big data, blockchain, and the practical opportunities available for banks and financial services providers.
The Investor lounge will provide one-on-one interactions and meetings between the most active investors and entrepreneurs that are disrupting traditional business models. “Do not miss your pass to the Investor lounge for a chance to build powerful synergies and get advice on how to take your business to the next level,” the company said.
First founded in Beirut and since grown to be a profitable and popular MENA-wide yearly conference, the 10th local edition of ArabNet is gathering a markedly increased number of key regional and Lebanese digital players since its start a decade ago. Entrepreneurs from all walks of life, tech gurus, digital leaders, and maestros of the IT sector are all expected at the ArabNet 2019 show.
Listen to tech experts, follow the giant live twitter feeds, try advanced virtual reality demos, shake hands with talking robots and wave at the drones skimming through the exhibit hall, there is much going on at the event.
-- Annahar editor, writer, Hala Mezher contributed to this report.
The Event will be held from June 12-13.
An-Nahar is not responsible for the comments that users post below. We kindly ask you to keep this space a clean and respectful forum for discussion.


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Tamashii Nations is expecting to release three more Ultra-Act figures within the next three months in Japan.
Starting off the releases is the Ultraman Gaia & XIG Fighter Set. Of course, the set will include the power rays for Gaia and replacement hands – but, the set will include four XIG fighter jets. The set is expected to be released in April 2014 at the price of ¥4,860 ($47.53 US).
The next set is the Ultraman Ginga figure. It’ll come with replacement hands, power rays and a replacement color timer. The figure is expected to be released in June 2014 with a price tag of ¥4,104 ($40.14 US).
The last set will actually have two figures from the Ultraman Zero series. one is the Ultraman Zero Strong Corona and Ultraman Zero Luna Miracle versions. both will come with their power rays, replacement hands and weapons. The set is scheduled for a July 2014 release with a price of ¥8,856 ($86.61 US).
There are no mentions of when these figures will be coming to the States. But when they do, we’ll be the first ones to find that out! So stick around with Planet X Control Room for the latest news on toys!

domain: news


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A Chinese takeaway with two branches in North London has smashed its £350,000 crowdfunding goal, raising £1.6 million in the biggest overfund ever on platform Crowdcube.
Zing Zing raised the sum in just under a month from investors including Michael Sherwood, vice chairman of Goldman Sachs and the co-chief executive officer of Goldman Sachs International.
Zing Zing's founder Josh Magidson told Business Insider: "He was introduced to us through some investors who had already put some money into the platform. He tried the food and loved it. He called me a few times to talk it through. Firstly, he's a really nice down to earth guy. I was very nervous before the call but no he's actually a really lovely guy."
Magidson says he can't say how much Sherwood put in, but says: "It's a very decent level figure, he's one of the highest investors in the round."
Zing Zing, founded in 2013, does healthy, modern Chinese takeaway and has two branches in North London. Magidson had the idea while working at Just Eat (he sold his first startup, Eatstudent.co.uk, to the delivery platform in 2010).
Magidson says: "I got a really good view of the market. They were doing tens of thousands of orders in the UK. They had what they called the holy trinity: Chinese takeaway, Indian food, and pizza or fast food. Chinese food drove the business, it was a massive segment of their orders.
"But at the same time, Just Eat had a lot of difficulty convincing Chinese restaurants to even go on the platform. A lot of the places are mom and pop operations and they've been doing the same thing for generations. They didn't like the idea of a move online. Whereas Indian and pizza places came online freely."
As well as embracing the internet, Zing Zing also aims to "bring that quality into the marketplace," Magidson says. Currently, too many Chinese takeaways are "full of chemicals, low quality of service, low quality of brand, quality of everything," Magidson says.
"We're trying to completely revolutionise Chinese takeaway in the UK. It's such a massive industry and it's so high in demand, everyone absolutely loves the taste and flavour of it."
While the branding and quality of Zing Zing are upmarket, the prices are not. A main costs on average £6.50. Magidson says: "We're almost thinking we're much too cheap. The market's becoming more premium and we've actually had to raise our prices slightly on Deliveroo alone just so we don't look like a really, really cheap option because that's not what we want to be."
Magidson himself has been surprised by Zing Zing's popularity on Crowdcube. He says: "My best guess is — everyone just gets it, everyone just gets what we're trying to do, you only need to explain it for 30 seconds. A lot of people really understand it.
"Other than that, the fact that the brand is really strong. A lot of the investors have also come down and tasted the food, that has really helped."
Zing Zing plans to use the cash it raised to open two new restaurants in east and west London. Magidson says the extra cash will not lead to more sites immediately.
He says: "I think in a sense it would be a really bad idea to say 'We've raised 4.5x our original target lets grow 4.5x faster' because we've actually put forward a really ambitious plan as it is. For us, the extra money isn't really going to change that process at all it just means we'll have to raise less debt in the future."
Zing Zing, valued at £3.6 million in the funding round before raising cash, aims to have 30 stores across London by 2020. The takeaway chain had revenues of £1 million last year and is targeting revenue of £1.26 million this year.
Magidson says sales are growing between 5% and 30% each week, but the publicity from the Crowdcube campaign has provided a big boost, with sales up by as much as 150% some weeks.
Magidson himself is not Chinese but executive chef Jeremy Pang, founder of Chinese cookery school School of Wok, has Chinese heritage.
Magidson says: "British Chinese takeout food is a slightly western phenomenon anyway but having said that I did want a chef who really understood the culture and knew what we were doing, which is why we've bought Jeremy Pang on board who has Chinese heritage and is in charge of all the food and all the flavours. He does all the magic with the wok."
Get the latest Goldman Sachs stock price here.


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For many Coloradans, eating local is a longtime passion, nurtured by the simple pleasure of harvesting dinner from our own backyard.
Now, there is a growing movement afoot to fortify eating local, so Coloradans are no longer passive “food consumers,” but are more engaged and pro-active “food citizens.” Making Local Food Work is an ad-hoc group greasing the groundswell for food that is more personal – food that comes from close by, with a community connection.
Recently, Making Local Food Work launched an online hub, The Shed: Boulder County. The goal is to promote the production, consumption and preservation of regional and local food.
Bolstered with local political clout, The Shed:Boulder County is the initiative of a nine-member coalition of Boulder County business, government and non-profit leaders such as the city and county of Boulder, Boulder County Farmer’s Market, Chef Anne Foundation, BVSD’s School Food Project and Local Food Shift.
“People want local food,” says Michael Brownlee, founder of Making Local Food Work and Local Food Shift.
In a sort of ‘chicken and egg’ dance, the local food segment is growing. “It’s growing much more rapidly than the organic segment, and it’s completely market driven,” says Brownlee, who has been nurturing and cultivating the emerging trend for the last eight years.
Soon, Brownlee and co-publisher, Lynette Marie Hanthorn, will further fuel the local food movement with the launch of a focal point intended to by catalytic. “Local Food Shift Magazine” will provide a long-needed hub for information about local food.
“People want more access to local food and more information about local food. They want to know exactly where their food is coming from, who grew it, how it was grown, how the animals and workers were treated along the way.
With the magazine, we’re creating a content umbrella that can provide access to all of this. It’s certainly for eaters who are interested in local food, but it’s as much for this emerging business segment, the farmers and ranchers, the food entrepreneurs that are getting into local food,” says Brownlee, noting that the many enterprises working on various aspects of local food are mostly disconnected from each other.
On September 1, the first edition of “Local Food Shift Magazine” will hit newsstands and local outlets from restaurants to CSAs.
For now you can get a taste of the quality and depth planned in the 28-page preview issue available online here.
Or you can become a member subscriber and get access to premium online content after the launch.
As a phenomenon that spans Colorado, the U.S. and Europe, Boulder is in good company with its local food movement. In a sustainably and health-focused community such as ours, Boulder’s local food movement has many local connections. One is the Boulder-headquartered, “Slow Money.” With a focus on providing patient money to local food enterprises, Slow Money has invested more than $40 million nationwide since 2010.
Boulder’s Slow Money 27-member club has made eight loans to date, totaling $81,000 to such companies as LoCo Foods, Urban Farm Co., De La Chiva Goat Dairy and Ozuké Pickled Things.
The numbers lend credence to the value of ‘thinking like a food shed.’ Today, we share a few of those with you in the following infographic.
Please stay tuned for future stories on Local Food Shift Magazine.
For more on eating local, read our post Get a Bite of Boulder’s Most Local Produce


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Bitcoin 16 hours ago · 2 min read
A virtual world where, one day, we will all interact, create, work, and live our lives. Crypto will play a pivotal in the metaverse as a digital universe will require digital money.
Read more Metaverse news →
Metaverse awareness has more than doubled in 6 months
A recent study shows metaverse awareness reached 74% in March, with a majority of participants agreeing that the metaverse is 'the future.'
South Korea sets $117.1 million budget to kickstart metaverse industry
South Korea's government has earmarked $117.1 million for the metaverse, betting on its potential and having this technology as one of their main focus in the following years.
Qatar hosts the first metaverse FIFA gaming tournament
The best player in the first EA Sports FIFA 22 Champions Cup hosted in Qatar will walk away with $25,000.
Op-Ed: Virtual real estate is booming: Benefits of buying properties in the metaverse
Currently virtual real estate us full of opportunities, but as with regular properties proper guidance is needed
Metaverse-related phishing attacks become the newest form of high-tech fraud
Although retail metaverse investors are losing their investments to scammers, institutional investors are focused on establishing a presence in the virtual world.
Emerging nations more bullish on metaverse versus developed world
People in emerging nations are more positive and familiar with the metaverse, and also expect it to significantly impact their lives in 10 years
Global Esports Federation launches Metaverse Council
Metaverse council will attempt to focus on shaping the future of global initiatives
Standard Chartered buys virtual plot in The Sandbox to begin metaverse expansion
JPMorgan, Standard Chartered, alongside other top financial institutions now have a foot in the virtual world.
Sweden’s PostNord partners with Warpin to train staff in the metaverse
PostNord claims using VR training modules is up to 80% more effective than e-learning.


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This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Nigeria’s Errand360 raises pre-seed funding
Errand360, a bicycle community delivery platform has announced raising an undisclosed amount of pre-seed funding to expand across Africa.
The startup was built to serve users looking for quick and short errands within their communities and on-demand delivery services.
Errand360 launched earlier this year, and has since been using its fleet of bicycles to serve users with a variety of delivery services in Lagos.
Founder, Adele Adetola, noted that the business model was inspired by the increasing demand for fast and affordable delivery services within the state.
He said: “We spotted a need for fast and affordable deliveries, and a need for short errands for people within a community, and this is what inspired our model.”
Led by Prof Ndubuisi Ekekwe of Tekedia Capital, the round will be used to acquire infrastructure, expand, and grow its business across the whole of Africa.
Tech Trivia: Facebook allows people to connect with others by adding them as what?
Answer: See end of post
2. Cameroon’s Agrix Tech develops AI app to control crop disease
Agrix Tech, a Cameroonian startup, has developed a mobile app that helps farmers control crop diseases utilising machine learning technologies.
Agrix Tech was founded in August 2018 as a venture deploying into use machine learning technologies to overcome vital agricultural challenges on the continent.
Adamou Nchange Kouotou, founder and chief executive officer (CEO) of Agrix Tech, while commenting on the novel idea, noted that the vision was to reduce loss by farmers to diseases.
He said: “Most of the small-scale farmers in developing countries are self-taught farmers who lack proper knowledge in crop diseases and pests’ management.
“Because of that, 49 per cent of agricultural produce in Africa is lost due to crop diseases and pests. With our app, we aim to instantly equip those farmers with this important skill that will enable them to adopt a better crop disease management strategy for their farm and therefore become more productive.
“We sell advertising spaces to agri firms on our app, and we sell user licenses to people who want to use our app on a large scale, such as agricultural consulting companies.
“The penetration rate of smartphones in rural areas in Africa is still very low. It forced us to iterate on our business model many times before we finally landed on the current one.”
3. Edtech startup BrightChamps, raises $51M at nearly $500 million valuation
Indian edtech startup, BrightChamps, has raised $51 million in a new financing round to value at nearly $500 million.
The new financing round was led by Premji Invest (the private investment office of technology billionaire Azim Premji).
BrightChamps teaches kids programming and other skills in over 10 markets including several in Southeast Asia, as well as the U.S., and Canada.
Commenting on the development, BrightChamps co-founder and chief executive Ravi Bhushan, noted that he was inspired to start off with the idea seeing the need for kids to be educated to understand tech.
He said: “It’s not an India problem. Schools across the globe are teaching kids how to change the style of text in Microsoft Word in the name of technology.
“Children have the option to learn skills in any local language they prefer.
“We are growing solely with the money we have earned from our customers.
“Education, as you can tell, has been my passion since the childhood. I am here to build an iconic brand.”
Tech Trivia Answer: Friend
A friend, in the traditional sense of the word, is a close acquaintance. An online friend, however, is simply a person added to your list of friends on a social networking website.
For example, on Facebook, you can select a user and click “Add as Friend” to send a friend request to that user. When the user receive your friend request, he or she may choose to accept or decline the invitation. If the user accepts your request, he or she will be added to your list of friends.
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Last week, Google began upgrading some of its devices to Android 7.1.2 Nougat, the latest minor update to the OS. It also published factory images for many of its Nexus and Pixel devices, and although it dropped support for the Nexus 6 and 9, those devices will still continue to receive security updates.
However, those who tested beta builds of Android 7.1.2 have so far been left out of the final release, but it looks like that's now changing. Google has now begun moving those running the Android 7.1.2 beta to the final non-preview version of the same update, starting with the Nexus 6P. The Nexus 6P received the first Android 7.1.2 beta three weeks after other Nexus devices.
The update now available for the 6P is just 25.4MB in size, which isn't surprising, given that the update's sole purpose is to switch the device from the beta version of 7.1.2 to the final stable build - so while owners of that handset won't see any big changes in this update, it will make it easier for them to get future over-the-air updates.
Incidentally, Android Police notes that some Nexus 6P owners were being offered another update to the beta after installing the final 7.1.2 update - but it appears that that was an error on Google's part, which has now been resolved.
It's not yet clear if Google plans to release any further 7.1.x updates, as the company has already begun its developer preview program for the next major version of the OS, currently known as 'Android O'.
Source: Android Police


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Brand New 16GB Wifi iPad via TechnoBuffalo
TechnoBullalo, a technology website, is teaming up with the guys over at Blippy in a cross-promotion campaign and a brand new 16GB iPad is up for grabs. jon4lakers, TechnoBufallo’s Youtube presence, published a video announcing the giveaway. If you are outside the US then the value of a 16GB Wifi iPad will be given as the prize, assuming you win. Here’s how to enter.


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Photo by Glenn Asakawa of the Denver Post, printed without permission.
I've often said that it confuses me when people see a storm coming and race to the grocery store to stock up on toilet paper. Usually, the "storm" in question involves a half-inch of rain or two inches of snow.
But Denver's situation this week is different. A run on bread at Safeway seems entirely warranted.


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How payment technology is changing the rulebook on SA retail
29 SEPTEMBER 2023
The countrywide adoption of Bitcoin payments by industry titan, Pick ‘n Pay, late last year, heralded the first among many new developments in the payment technology landscape. The past few years have seen the proliferation of new methods of transacting, with local fintech innovators earning their place within the new-generation payments ecosystem. Consumer credit has followed suit, making new inroads into meeting the national imperative to build a more financially inclusive nation.
Major developments on the payment technology landscape
“We’ve now seen card payment innovators like Yoco bringing a new level of functionality to the local small business sector,” says Gavin Lomberg, Chief Commercial Officer at credit provider RCS. “Portable card machines were eagerly adopted by many of the country’s small businesses. Larger retailers, like Pick n Pay, launched contactless payments, and adoption was accelerated by the need to limit physical contact and curb the spread of COVID-19.”
Contactless payment options like ‘Scan to Pay’ are now becoming popular across a variety of different businesses. WiCodes, issued by retailers, as well as similar scannable QR codes delivered via mobile apps are proving highly effective at bridging the gap between traditional instore card or cash payments, and card-not-present (CNP) payments.
Where digital payments were once confined to the world of e-commerce, the market is seeing the onboarding of larger, more traditional retailers who are embracing the need to offer shoppers better access to new technologies.
The bigger picture
“We at RCS have been perfectly positioned to ride the new wave of digital innovation,” says Lomberg.
“Digital transformation is rewriting the rulebook on payments and by extension, the landscape of consumer lending. Arguably, the biggest change that this transformation has brought about is a greater level of accessibility to more diverse groups within the population.
Digital technology has broadened the reach of financial sector players and credit providers, extending its impact to the previously unbanked and underserved. The expansion of the payment technology space not only speaks to the increasing consumer demand for more choice and convenience, it’s also about welcoming new groups of people into the population of financially active South Africans.”
The next step for consumer transacting
Bitcoin is the latest addition to the wide range of payment options offered by Pick ‘n Pay. To date, it is the first cryptocurrency to join the ranks of one of the country’s largest retailers, operating adjacent to credit options like the RCS store card.
For Carel van Wyk, Founder of CryptoConvert – Pick n Pay’s Bitcoin technology partner – their latest development takes the power of integrated technology a step further.
As van Wyk explains: “Blockchain technology provides one of the most efficient means of connecting South Africans to the universal financial ecosystem and gives more people access to the global economy. As such, it has the potential to serve as an effective way to address the digital divide.
We need to bear in mind that change takes time and the mainstream adoption of Bitcoin as a popular payment method will take at least another five years to materialise. In the South African market, which is dominated by card and cash payments, Bitcoin remains a powerful disruptor.”
Change across the spectrum: from crypto to cash
The mainstream adoption of cryptocurrency by Pick n Pay is a prime example of how quickly new technologies like Blockchain have taken root at the level of the consumer. But digital technology is just as effective at enabling new innovations as it is at bringing legacy systems up to speed.
Until fairly recently, the greater uptake of payment technology was stymied only by the fact that cash remains king in the South African economy, due to a number of reasons. But, with the launch of a new rapid payments programme, PayShap, cash has met its contender. With PayShap facilitating the real-time clearance of smaller transactions (under R3000), the system is set to reduce the country’s reliance on cash and improve both safety and convenience for consumers and small businesses.
However, the affordability of banking charges for applications of this kind will continue to create a barrier to entry for many. And, as van Wyk says: “The South African Reserve Bank will need to work hard at making the system as user-friendly as possible by creating a hassle-free funnel that addresses pain points and encourages fewer drop-offs. Affordability and ease of use will be make-or-break factors for any new transacting technology going forward.”
Changes afoot in the world of credit
The collective impact that innovations such as these will have on consumer pockets is that transacting across the board and via various mediums will become cheaper. Several innovators in the world of consumer credit have focused much of their efforts on making credit more affordable. This is evidenced by the emergence of Buy-Now-Pay-Later (BNPL) models which began to take hold in the years leading up to the pandemic.
“We’ve also seen credit going virtual fairly recently,” says Lomberg, “making its foray into a previously unchartered territory. Virtual credit systems are supported by a level of digital integration that has significantly lowered what has traditionally been a lengthy approval process. It has also eliminated the lead time and logistics needed to deliver plastic cards to consumers.”
According to Lomberg, these developments will see the barriers to entry into the credit market being lowered substantially. This will in turn allow lower-income earners to enter the fold and begin cultivating credit histories that will set them in good stead to access better finance options in future.
Some of the country’s most established retailers are buying into this value proposition. The most recent example of this is Game’s launch of a virtual card facility that will enable credit purchases directly from the retailer’s online store. This new system was developed to cater to the increasing consumer demand for more ways to shop, repay and manage credit easily and efficiently.
Game’s virtual card will be powered by an online system created and administered by RCS.
“This intuitive evolution into the virtual credit space resonates with our broader goal of driving financial inclusion and enabling features and functionality that appeals to the next generation of South African consumers,” concludes Lomberg.
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Posted on 20th Jul, 2018 by Dominic Benabda
The Blackburn based company has employed new key staff members in all areas of the business to consolidate its growth throughout 2018 and for the future.
Vision Techniques are a leading provider of safety equipment for large vehicles in the UK and Europe. Established in 1988, the company continues to deliver premier solutions to vehicle safety in the industry, these include systems for vulnerable road users.
Mike Hutchings joins the business as its new Operations Manager, to enhance and develop the functions of the Service and Dispatch Department. Vision Techniques believes the expertise and experience Mike gained in similar roles will help the company move forward in its future success.
The company has also brought on board Tom Smith as a Management Accountant to provide additional support for the finance team as it grows and expands its future business plans.
Tim Bostel is a further addition to the company’s expanding sales team with a focus to promote the business’s award-winning products into new markets throughout the UK. Tim has many years of experience in the road haulage industry, with one of his previous roles being within the RHA (Road Haulage Association).
The business is excited as it looks ahead into the second half of 2018 and cannot wait to see what 2019 has to offer.


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Bitcoin’s star has been rising lately. The pioneering cryptocurrency bottomed out around $5,000 at the beginning of the pandemic in March, but this week traded above $13,800.
Helping to spur those moves is increasing corporate bullishness on cryptocurrency—as evidenced by Square’s recent $50 million Bitcoin buy and last week’s announcement that PayPal will offer Bitcoin and other crypto trading. Even J.P. Morgan is now predicting a coming liftoff for Bitcoin.
Cryptocurrencies like Bitcoin remain controversial, but their growing acceptance is likely also accelerating the arrival of their well-hyped cousin: Central bank digital currencies.
That was clear yesterday as I hosted the Fortune Global Forum, where I interviewed fintech leaders including Mastercard CEO (and soon to be executive chairman) Ajay Banga; Visa Europe CEO Charlotte Hogg; and Sebastián Kanovich, co-founder and CEO of dLocal, a Latin American payments startup that recently became Uruguay’s first billion-dollar unicorn.
While Bitcoin is too volatile for mass usage, said Banga, it’s “central bank digital currencies we’re believers in.” Mastercard is now “one of the largest patent holders in the space of central bank digital currencies,” he added.
“I believe that fiat currencies, if they were to go digital, would they be helpful in cross-border trading flows and improving the efficiency of those?” explained Banga, “Yes, for sure.”
Hardcore Bitcoin purists are bound to insist that any currency issued by a central bank is not a true cryptocurrency, because it’s not decentralized. But the CEO of Binance—the world’s largest Bitcoin exchange—Changpeng Zhao, better known as CZ, disputed that view when we spoke with him last week on our show Balancing the Ledger.
“People will probably argue about the semantics of it and different definitions of it, but I think that that’s not super important,” Zhao said. “What’s important is what will people use at the end of the day, and how much adoption each different currency will get?…I think there could be centralized versions of cryptocurrencies that will get high adoption.”
He added: “I think as long as people use it, it will have value.”
Indeed, even in emerging markets where local currencies can be volatile and less reliable, people still aren’t turning as much to cryptocurrencies as proponents perhaps thought they would.
Kanovich, whose company dLocal operates largely in Latin America and other developing countries, didn’t think cryptocurrency would matter much to his business until central banks got on board with the technology.
“We are super bullish at the personal level; we don’t count on it at the company level,” he said. “We need to make sure that the central banks are feeling comfortable.”
Besides, he added, even among the current fractured landscape of cryptocurrencies, with Bitcoin and its thousands of younger siblings, none has really caught on yet with consumers. “We need to make sure that users are paying the way they want to pay. And yet, they’re not choosing crypto,” Kanovich added. “We would love to see it happening, but we haven’t seen it happening yet, and we do believe we have other fights to fight than driving adoption in the crypto world.”
Maybe a digital currency backed by a central bank would change that.


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Bohle America recruits, doubles office and warehouse space
Bohle America Inc. has more than doubled its office facilities at its Charlotte, N.C., headquarters in the Ballantyne development in South Charlotte, according to a May 11 release. The company also has increased its staff with the recruitment of a new sales office manager, Summer Zifko. A finance major with several years experience in banking and marketing, Zifko brings additional dimensions and strengths to the team.
“We are rapidly developing our U.S. operation and we need to grow both our team and our facilities," said Gary Dean, CEO, in the release. "We recognized from the beginning that we would be able to expand once we gave ourselves some time to listen to our customers and understand the market needs. Hence we decided from the outset to engage flexible warehouse and office arrangements which would facilitate our growth. Subsequently we have been able to add significant warehouse space up to 176.500 square feet to accommodate hundreds of new product lines and have more than doubled our office space in the last two months. These arrangements will provide further opportunities for significant expansion of product lines and sales support teams without the need to relocate.”


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New Delhi: Shiv Singh,22, has seen his business almost “crumble down” in the past one week. The tomato seller from Delhi’s Azadpur Vegetable Market, is packing up his stall for the day. It’s only 11 in the morning. “Business has been terrible for the past few days. Without cash in the market we are struggling to attract customers,” he says. Singh’s stall is a spec on the 80 acre sprawl of the Azadpur Mandi. The mandi, locals, say, never sleep. “We have been swatting flies since morning,” yawns Singh.
It has been a week since PM Narendra Modi announced his controversial demonetisation move, but Asia’s largest vegetable wholesale market is still to make peace with it. “Customer ask me why don’t we start accepting cards. Look around, do you think we have that kind of facility?” asks Singh.
Since our Prime Minister has relentlessly pitched for cashless transactions for the past few years, we visited trading hubs and small-time business of the Capital and tried to find out why are they so averse to cashless transactions.
Lack of Awareness
In East Delhi’s Gandhinagar area, there’s nothing that gives a visitor sense of being in Asia’s second biggest wholesale textile and garment market.
Most of the shops are shut. Those open, wait endlessly for a customer to turn up. There’s hardly one these days. But being the biggest textile market is not the only distinction of the Gandhinagar market. The place is also famous for its ‘only-cash’ transactions.
“Most of businessmen here are not well-educated and tech savvy to handle electronic payments. They are skeptical about it. Majority of the transactions take place in cash, followed by cheques and demand drafts,” says Harjeet Singh Kochhar, who owns Montoo Dresses in Ashok Gali, Gandhinagar.
Kochhar, who’s also president of Organisation of Traders and Industrialists in Gandhinagar, says there are around 20,000 shops selling different kinds of textiles and garments in the market. But very few opt for payments other than cash.
Lack of proper documents
Asked if the “only cash” payments are allowing certain shopkeepers to evade tax? Kochhar said:
“There might be few shopkeepers who are running their business without proper registration and licences. This might be the reason why sales tax officials were seen in the market during the last week. Otherwise, all our transactions are transparent and in the knowledge of authorities,” he said.
Labourers Only Accept Cash
For Rajender Kumar Goel, a metal scrap dealer in West Delhi’s Mayapuri scrap market, the November 9 announcement has ensured “no business
“The scrap industry involves a lot of labours who only accept cash. You can’t pay wages to a labour through net banking and credit/debit cards. It’s like a chain. Even if we accept payments in forms other than cash, what’s the use of it when others refuse to take it,” says Goel, who primarily deals with iron and steel scrap.
According to Goel, the only means of transaction in Mayapuri Scrap Market is cash and cheque.
“Since there’s no cash and there’s a limit on withdrawal, there’s no business, We have very small shops and most of the work involves physical touch with scrap and metal. Our hands and clothes are always dirty. We don’t have any knowledge about debit/credit card payments. How does the government expect us to do that in such a short period of time?” Goel asked.
The question of taxes
A lot of this small-time establishment manage to keep the cost of their services low because they manage to do away with extra taxes. “If we introduce card payment, additional taxes will have to be paid which will increase the price of the product. Plus, a 2 percent VAT will also be charged. But customers won’t understand all this and they will become unhappy” says Ajay Kukreja, a trader from Khari Baoli, Asia’s biggest wholesale market for dry fruits and spices.


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These ASX shares have been strong performers on Tuesday…
The post Why AMP, Collins Foods, Credit Corp, and Orocobre shares are charging higher appeared first on The Motley Fool Australia. –
The S&P/ASX 200 Index (ASX: XJO) has returned to form and is charging higher on Tuesday. In afternoon trade, the benchmark index is up 1.1% to 7,321.3 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:
AMP Ltd (ASX: AMP)
The AMP share price is up over 7% to $1.08. This follows the release of a demerger and strategy update this morning. That update revealed how AMP intends to operate its PrivateMarketsCo business once demerged. Management intends to focus on leveraging its significant opportunity to become a global leader in the fast-growing private markets industry.
Collins Foods Ltd (ASX: CKF)
The Collins Foods share price has jumped 8.5% to $13.58. Investors have been buying this quick service restaurant operator’s shares following the release of a strong half year result. Collins Foods reported a 9.5% increase in revenue to a record of $534.2 million and a 31.6% jump in underlying net profit after tax to $28.9 million. A strong performance from the KFC Europe business helped drive its growth.
Credit Corp Group Limited (ASX: CCP)
The Credit Corp share price is up 10% to $33.30. This follows the announcement of the acquisition of Radio Rentals for $60 million. Credit Corp notes that it provides the cheapest and most sustainable finance to the Australian credit impaired consumer market and its entry into this new segment will be consistent with that approach. Management also upgraded its guidance to account for the acquisition.
Orocobre Limited (ASX: ORE)
The Orocobre share price is up over 8% to $10.27. Investors have been buying this lithium miner’s shares following the release of its annual general meeting update. That update revealed that Orocobre has continued to experience strong lithium prices during the current quarter. In fact, it expects quarterly prices at Mt Cattlin to be almost double what it received during the September quarter.
The post Why AMP, Collins Foods, Credit Corp, and Orocobre shares are charging higher appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited and Orocobre Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Collins Foods Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.


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Start Creative and animator 12 Foot 6 have collaborated on a series of whimsical in-flight brand ads promoting Flying Club, Virgin Atlantic’s frequent-flyer scheme. The 30-second and three ten-second spots, which launched last week, follow the adventures of brand character Miles, as he is ‘transported’ into rewards including upgrades, hot-air balloon rides and safari trips (pictured). Miles, meanwhile, remains ensconced in his airline seat with the tagline, ‘Do nothing, get everything.’ ‘The idea was to develop a concept that connects with people at all levels,’ explains Julian Wild, Start Creative digital media creative director.
The AI research team now forms part of Google’s Beijing office, and will be working with the tech company’s engineering teams.
A new report by financial consultancy Brand Finance looks at the potential financial impact of forcing big companies such as Pepsi Co and Coca-Cola to have non-branded packaging.
Games and augmented reality features for children sit alongside artificial intelligence features for parents, who can ask questions to find out about their child’s progress.
The winning entry of the product design competition will be awarded £3,000, while a further £2,000 will go to the university they study at.


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By Tanko Mohammed
Offers by potential Nigerian investors have attracted Shoprite, South Africa’s biggest retail supermarket, to relinquish its stakes after 15 years of operation in Nigeria.
The decision to hand over its stakes to Nigerian investors is contained in a statement with the title, “Operational and Voluntary Trading Update (52 Weeks Ended June 28, 2020).
The company said in the statement of August 3, 2020 that, “Following approaches from various potential investors and in line with our re-evaluation of the Group’s operating model in Nigeria, the Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited.
“As such, Retail Supermarkets Nigeria Limited may be classified as discontinued operation when Shoprite reports its results for the year. Any further updates will be provided to the market at the appropriate time,” the company explained.
Shoprite announced a 6.4 per cent increase $9.08 billion (R156.9 billion) in total sales of merchandise for the outgoing year despite the challenges posed by the COVID-19 pandemic.
While the company’s total sales of merchandise may be on the rise at home, it is struggling outside South Africa.
According to the report, the non-South Africa supermarket operation of the company, excluding Nigeria, contributed a paltry 11.6 per cent to the group sales.
The sales recorded by the company outside South Africa dipped by 1.4 per cent in the year under review, blaming the situation on the lockdown by many countries in Africa due to the coronavirus pandemic.
“Second half constant currency sales growth of 6.3 per cent was significantly impacted by lockdown regulations across the 14 African countries in which we trade.
“Lockdown restrictions pertaining to store closures; social distancing; transport restrictions; the movement of people; trading hours; workforce limitations and trade in alcohol impacted various regions to differing degrees at different times.”
Shoprite came into Nigeria in December 2005 and now has a total of 26 stores in eight out of 36 states, including Federal Capital Territory, Abuja and with 99 per cent of the its 2,000 employees Nigerians.
Nigeria investors are reported to have been angling to buy into the Africa’s biggest retailer.
The decision of Shoprite has attracted a lot public reaction on twitter, with Senator Shehu Sani, saying: “If Shoprite wants to stay, they can stay: if they want to go, they can go, it will help local supermarkets to grow.’’
Mr Wale Adetona, said: “Shoprite’s mall-only strategy in Nigeria is faulted, and with growing competition from SuperSaver, Ebeano, D’prince, Hubmart and the rest, their market share will definitely decrease. When last did you buy anything from Shoprite?’’
“Asides the political bottlenecks and chaotic business strains associated with doing business in Nigeria, one other silent contributing factor why Shoprite is closing down, is staff theft. In 2017 alone, a sales girl stole N553 miullion, one month after securing the job. There are many, ‘’ Mr Samuel Otigba said.
Mr Onye Nkuzi also said that the exit of Shoprite from Nigeria “should tell you what you need to know about the size of the Nigerian consumer market and the economic incompetence of the present administration.
“Anyway, Leventis and Kingsway Stores suffered the same fate under a previous Buhari Administration.’’
Mr Koshiek Karan said Shoprite “ pulling out of Nigeria and launching a formal process to sell their stake’’ is a testimony that South African listed companies have found it challenging to do business in Nigeria.’’
There is no official reaction yet on the matter.


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Why is Aldi closing stores? Hi there! Today we’re talking about a grocery store called Aldi. It’s a discount chain from Germany that has been growing in the United States. But, Aldi is going to close some of its stores to make the company better and more modern.
Aldi is closing some of its stores, but they have yet to say which ones. Aldi is trying to make their customers happier by doing some new things. They will sell more products, test new store designs, and use more technology in their stores.
They’re trying to be more innovative and friendly to keep doing well in the United States. One thing to mention is that Aldi is currently shutting down its stores. It still has yet to compromise with its quality which it is famous for.
We hope by now you have gotten the gist of Aldi’s situation. If you want to know further, then keep reading this article. Also, Closing Stores? If so, why?
Aldi is one of the famous grocery stores which is well known for its discount schemes. Based in Germany, Aldi has yet to decide if it will close its stores in the United States of America.
Though Aldi has not disclosed which stores they are going to shut down. But it is clear that these closures which be for the best. This decision will modernize the company’s operations.
Aldi has recently experienced significant growth in the United States. Aldi has been expanding. Aldi has been opening new stores in a variety of locations.
This expansion has brought unwanted challenges, such as increased competition from other discount retailers and shifting consumer preferences.
Aldi has now taken a drastic step to check its business in the USA and make tough decisions. One of them is to close several stores for better operations. And provide better services at the profitable stores.
Whereas the exact number of stores closing has not been disclosed. It is evident that the move will have a massive effect on Aldi employees and customers.
Many workers are nervous about losing their jobs. While customers are concerned about losing their favorite Aldi locations.
But, Aldi has stated that the store closures are a component of a broader attempt to enhance the company’s performance. And provide a more excellent experience for customers.
The company has stated that it will continue to focus on providing high-quality products at reasonable prices. And that it is dedicated to serving its loyal customers throughout the United States.
Aldi has also announced plans to invest in several new initiatives. This aims to improve customers’ shopping experience as part of this effort.
These initiatives include broadening the company’s product offering by launching new store formats and increasing the use of digital technology in stores.
Aldi is also focusing on sustainability and environmental responsibility besides these initiatives. The company has pledged to source 100% sustainable cocoa for its private-label chocolate products by 2025. And it has already made significant progress toward that goal.
Aldi has also implemented measures to cut plastic waste in its stores, such as removing single-use plastics from checkout aisles and implementing reusable produce bags.
While store closures are upsetting for Aldi employees and customers. It is important to remember that the move is part of a more significant effort to improve the company’s operations and better serve its customers.
Aldi is well-positioned to continue its growth and success in the United States market. Thanks to a renewed focus on innovation, sustainability, and customer experience.
Is Aldi Closing Stores?
There needs to be more information about whether Aldi is closing stores. According to some reports, Aldi is closing some stores in the United States and Australia.
For example, on March 21, 2023, an Aldi store in Lower Burrell, Pennsylvania, will close.
Aldi announced the closure of 12 stores across Australia in April 2019. Aldi closed some stores in Chicago and Memphis because of burglaries and fewer sales. But, other reports say that Aldi is not closing any stores and is acting new ones.
Aldi is a big company with many, like the United States, Australia, and Europe. It is important to note that store closings can occur for various reasons.
For instance, decreased sales, competitive pressure, and other factors. It is, even so, critical to look at the evidence before spreading rumors or misinformation.
One thing to note is that Aldi is closing only some of their stores but only a few of them. The rest of the stores would still continue to operate.
Which Aldi Stores is Shutting Down?
As per the reports, Aldi closed its store in Chicago, Pennsylvania, and Australia. Other locations are too included.
Beyond these locations, it is still being determined which specific stores are closing. Due note that Aldi is not focusing on closing stores. Though some stores have closed down, new stores are opening up too.
Is Aldi Plan to Shut Down All Its Stores
No, not all Aldi locations are closing. Some Aldi stores are closing in places like Chicago, Memphis, Minnesota, and North Minneapolis, but not all of them.
It’s only happening in some locations, so people shouldn’t think all Aldi stores are closing. Aldi is a profitable multinational corporation that is expanding its store network.
Reasons Behind Aldi Closures
Aldi, the German-based discount grocery chain. It has recently made headlines with its decision to close some of its stores in the United States.
But what is behind these closures, and what do they mean for the company and its customers?
One of the main reasons behind the Aldi closures is the changing nature of the retail landscape. Discount stores and online shopping are becoming more popular, making it harder for regular stores to compete.
Aldi is looking at their stores to see which ones are making the most money and deciding which ones to keep open. This has led to the closure of some stores as the company looks to streamline its operations and focus on the most successful locations.
Another factor behind the Aldi closures is changing consumer preferences. As shoppers become more health-conscious and aware, they seek out stores offering organic and sourced products.
Aldi has responded to this trend by expanding its organic product lines and focusing on sustainability. However, it may still need help to keep up with some of its competitors in this area.
Finally, the Aldi closures may be part of a more significant effort to modernize the company’s operations and provide a better experience for customers.
With the rise of online shopping and digital technology, retailers must adapt and innovate to stay relevant and competitive.
By closing some stores and investing in new initiatives, Aldi is positioning itself for long-term success in the US market.
While the Aldi closures may be disappointing for some customers and employees. It is important to remember that they are part of a more significant effort to improve the company’s operations. And remain competitive in an evolving retail landscape.
With its focus on affordability, quality, and sustainability. Aldi is well-positioned to continue its growth. And success in the United States and beyond.
Why is Aldi closing stores?
Aldi has not made any public announcements about closing stores. But like any retail chain, it may close some stores for various reasons, such as underperformance, changing market conditions, or lease agreements ending.
How many stores is Aldi closing?
There needs to be more information available about the number of stores that Aldi may be closing. As the company has not made any official announcement about store closures.
Is Aldi closing all its stores?
No, there is no sign that Aldi is closing all its stores. The company is a successful grocery retailer with over 2,000 stores in the United States alone. And it continues to expand its presence in new markets.
Will Aldi be opening new stores despite closing some?
Aldi may be closing some stores while opening new ones in different locations. The company has a history of opening and closing stores based on market conditions and performance.
Aldi, the German-based discount grocery chain, has decided to close some of its stores in the United States. While the specific details of the closures have not been announced yet.
Over time, Aldi has emphasized that they are part of a larger effort to restructure and modernize its operations.
The reasons behind the Aldi closures are various, but they are unrelated to the changing nature of the retail landscape, with increased competition from discount retailers and online shopping options.
Aldi has started reevaluating its operations and making tough decisions about which stores are most profitable and worth keeping open.
At the same time, Aldi faces changing consumer preferences, particularly regarding health and sustainability. While the company has made efforts to expand its organic product lines. And focus on sustainability; it may still need help to keep up with some of its competitors.
Despite these challenges, Aldi remains committed to providing high-quality products at affordable prices. And serving its loyal customers across the United States.
Investing in new initiatives aimed at expanding product selection and introducing new store formats. And increasing the use of digital technology in stores, Aldi is positioning itself for long-term success in the US market.
For employees and customers affected by the Aldi closures. It’s important to know that these changes make the company better for everyone.
Though this is only for a short period. Aldi is making these changes to be successful in the long run and make their customers happy.
The Aldi closures show that stores take a lot of work to stay open in a changing retail world. But Aldi is trying to remain successful by changing and doing new things.
Aldi’s main aim is to grow and be successful in the US. And other places by offering what their customers want and need.
We hope all your answers have been answered, and if you still have any doubts, feel free to leave a comment. We will get back to you soon.


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Affirm, Zip, Afterpay face headwinds as delinquencies rise
The Buy Now Pay Later (BNPL) industry is going through a tumultuous period as delinquencies and interest rates rise. The companies are also suffering as consumer spending dramatically slows.
BNPL companies have enjoyed rapid growth in the past few years as demand for their services has risen. Many customers believe that these firms offer a better service than credit card companies. In many cases, they have a lower interest rate and have no late fees. Other companies don’t even check credit scores.
Recently, however, many BNPL companies have expressed growth concerns. For example, Affirm’s stock price has crashed to an all-time low. In May, Klarna announced that it was raising cash at a $30 billion valuation, lower than its previous $45 billion. Similarly, Zip shares have collapsed by more than 60% from their all-time high.
BNPL firms are facing numerous challenges. For example, recent data shows that most developed countries are slowing down. As such, there is a likelihood that consumer spending will decline rapidly. This has been worsened by the surging inflation. Inflation has surged to the highest point in over 40 years.
At the same time, interest rates are rising in most countries. On Wednesday, the Bank of Canada became the first major bank to hike rates this month. Others like the Fed and Bank of England are expected to keep hiking. Higher rates make it difficult for BNPL companies to raise the capital they need to lend.
Another challenge is that the number of borrowers who are either delaying or failing to make their payments is rising. Sadly, the situation will likely worsen in the coming months. In a statement to WSJ, Zip’s CEO said:
“The industry as a whole, which has seen bad debts spike, really missed that moment. “And we are now going to have to dig our way out of that.”


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FRESNO, Calif. -- You've seen those delicious-looking hot chocolate bombs all over your TikTok feed.
You've oohed and aahed at videos of them 'exploding' into a cluster of marshmallows bathed in chocolate milk.
You may even have indulged in the sheer joy of them yourself during the bleak pandemic days.
But we bet you didn't know where they first began - in the kitchen of one California business that had no idea it was launching a worldwide food trend.
"An October morning two years ago, I woke up to my phone just going crazy," recalls Max Debbas.
Max is the president of Debbas Gourmet, a family-owned chocolatier in Fresno.
Over 40 years, they've grown from a small ice cream shop run by Max's father and mother, to a large manufacturer of handcrafted chocolate products with customers around the world.
Still, that success had not prepared him for the kind of colossal sales that were coming his way - beginning that October morning, when call after call about the viral fame of hot chocolate bombs poured in.
Debbas Gourmet was the first to come up with the concept of chocolate bombs years ago, he says. The company had been producing them from 100% chocolate for private label customers since 2017.
There were no products like that for several years until around 2019, when other companies began making them, but from cocoa instead of chocolate.
Then in the winter of 2019, some inventive TikTokers came up with their own recipes to make cocoa bombs at home - and a viral food trend was born.
Around that time, Debbas Gourmet had recently launched their own label, A'cappella, and were selling the hot chocolate bombs as 'BevBombs' under it.
And overnight, their sales skyrocketed.
"It literally blew up," he says. "We were getting calls from everybody, Costco, a lot of people... so we quickly began producing them at full speed, and we haven't slowed down since."
Not only have they not slowed down, they've now launched multiple new flavors of the Bev Bombs.
Besides the classic chocolate original, you can now buy them in chocolate raspberry, white chocolate peppermint, and pumpkin spice.
Max says each bomb is made from real chocolate.
"We use all-natural ingredients, there's nothing artificial, no flavors, no fake chocolate or coating," he says. "The marshmallows, even, they're gelatin-free, they're kosher, all made by hand."
If you want to try Bev Bombs, you can buy them from Costco or from the Debbas Gourmet website.


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Momo (NASDAQ: MOMO) , the Chinese technology business that possess a couple of state’s leading dating programs, lately uploaded its first-quarter earnings. The profits dipped 3.4per cent season over 12 months to 3.47 billion yuan ($529.7 million), lacking estimates by $3.1 million. Their altered net gain declined 14percent to 634 million yuan ($96.7 million), or $0.44 per advertising, which however overcome expectations by $0.11.
Momo anticipates their profits to fall 4.3% to 6.9% when you look at the next quarter. That dropped lacking experts’ expectations for a 4% fall, and administration did not provide any bottom-line recommendations.
Picture supply: Getty Imagery.
Momo’s growth rates search poor, but the stock-still sophisticated after the report, apparently due to its revenue overcome. The reduced ahead P/E proportion of 7.7 may also be placing a floor under the inventory, particularly after this has drop 70% of its appreciate over the past 3 years.
But is Momo inventory really really worth buying as a potential turnaround enjoy? Or should dealers however swipe leftover on the alleged ‘Tinder of China’?
Just how Momo shed the energy
A look back once again at Momo’s decelerating gains within the last five years reveals precisely why the stock features crashed.
When Momo went community in late 2014, they created significantly more than 60percent of its sales from registration charge on its namesake software. The Momo software enabled users to track down buddies based on their profiles and areas, and compensated consumers could discover extra qualities and benefits. It wasn’t clearly advertised as a dating software, it had been trusted for that function. The rest of the income originated adverts and a tiny mobile-gaming companies.
That most changed from inside the 3rd one-fourth of 2015, whenever Momo founded a live video streaming platform for content the key software. The brand new feature attracted millions of new registered users which purchased digital presents for favored broadcasters, and its particular profits and revenue gains expidited considerably throughout 2016.
Momo generated 79percent of the sales from the real time streaming company that seasons, also it carried on expanding in 2017. But between 2018 and 2020, three significant problems derailed the company.
Very first, China’s alive video online streaming market turned into saturated with brand-new opponents, some of which made an effort to draw in top broadcasters with ample revenue-sharing agreements. 2nd, Chinese regulators, worried that they cannot censor real time video clip streams quickly adequate, cracked upon the booming industry and prohibited a lot of broadcasters. That crackdown ultimately pushed Momo and Tantan, small relationship app it acquired at the beginning of 2018, to suspend their solutions for a number of months in 2019.
Lastly, men spent less money on virtual gifts and superior subscriptions through the pandemic a year ago. Concurrently, Momo enhanced the consumer purchase costs for Tantan, which closely resembles fit’s Tinder and is obviously marketed as a dating app.
Can Momo stage a comeback?
From the brilliant side, Momo’s monthly productive users (MAUs) on the main app improved 7percent seasons over 12 months and 1% sequentially to 115.3 million in the 1st quarter of 2021. During the discussion telephone call, President Li Wang connected that development to a ‘robust data recovery development’ through the Lunar New Year.
But its total spending consumers across Momo and Tantan, without counting any overlap, nevertheless decrease to 12.6 million, when compared with 12.8 million in the previous and prior-year areas. Within that complete, its premium people for Tantan decreased 17per cent 12 months over season and 8% sequentially to 3.5 million.
Wang admitted Tantan was still experiencing the ‘low efficiency’ of their very own consumer exchange effort, and streamlining those promotion expenses throttled the total user gains. This basically means, Momo’s intend to diversify beyond live clips with Tantan hasn’t panned out.
Meanwhile, Momo’s live streaming income decrease 16% throughout the very first one-fourth because of the previously mentioned issues yet still taken into account 57per cent of the leading range. That struggling company could consistently offset the development of Momo’s more made properties for the near future.
Wang stated Momo had gotten off to a ‘decent beginning’ in 2021, however it nonetheless deals with long-lasting headwinds. Tencent’s WeChat, the utmost effective mobile messaging application in Asia with 1.2 billion MAUs, continues to be an indirect opposition in online dating sites. Tencent also lately founded a few dating and reside streaming programs. Tighter censorship expectations in China may also continue steadily to results Momo and Tantan.
It is inexpensive for clear reasons
Momo inventory may seem like a bargain, but it’s inexpensive as it must conquer such daunting issues. Analysts anticipate the sales to stay nearly dull this current year as its adjusted earnings decrease 18%, but those dim projections could really getting as well upbeat if this continues to drop paying consumers.
Like many other U.S.-listed Chinese inventory, Momo furthermore face the danger of delisting in a few years whether or not it does not adhere to latest auditing criteria. All those headwinds imply buyers should capture a pass on Momo.
10 shares we like better than MomoWhen investing geniuses David and Tom Gardner bring an inventory idea, it would possibly spend to pay attention. Most likely, the publication they will have manage for over 10 years, Motley Fool inventory expert, possess tripled the business.*
David and Tom just announced whatever think would be the ten top inventory for buyers to purchase nowadays… and Momo wasn’t one of these! Yes it’s true — they believe these 10 stocks become even better purchases.
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Leo sunlight doesn’t have place in any of this stocks pointed out. The Motley Fool is the owner of shares of and advises fit class and Tencent Holdings. The Motley Trick suggests Momo. The Motley trick possess a disclosure policy.


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Samsung kicks off CES 2022 week today with the launch of its latest TV lineup.
In 2022, headlined by updated versions of its popular Neo QLED mini-LED TVs, Samsung will unveil new micro-LED models, as well as an updated gaming hub, NFT support and more. Below you’ll find a full recap.
Samsung’s lineup of flagship Neo QLED TVs for 2022, while not too radical compared to previous releases, is still based on mini LED panels with local dimming and 4K or 8K resolution. This time, though, there are some adjustments.
Most notable is a new feature called Shape Adaptive Light Control, which Samsung notes will help reduce parasitic lighting by analyzing what’s displayed on the screen and adjusting the lighting accordingly. This is combined with some additional processing found in the Object Depth Enhancer feature to help distinguish objects from their backgrounds. All of this will hopefully improve the look of the home theater, though we’ll see how it works in practice.
Another area where there is a noticeable upgrade is in refresh rate: the new Samsung Neo QLED 2022 TVs support 144 Hz out of the box. This is a step up from last year’s models and the accompanying 120 Hz refresh rate, made possible by the fact that all HDMI ports are 2.1 compliant. All other smart features are expected to return from previous years, including support for AirPlay 2, Alexa and Assistant and more.
Complementing its simple Neo QLED TVs, Samsung is also updating some microLED solutions for 2022. While still unavailable to most home theater owners, Samsung is updating its The Wall lineup with a new 89-inch size. As of this writing, there is no pricing information available, though you can certainly expect to pay a lot of money for what will likely be the best OLED on the market.
As for the newer side of Samsung’s lineup, there will also be updated versions of its popular The Frame models in 2022. The unique TVs, which are also used as digital art frames, will now come with a new anti-reflective, low-reflection panel, which Samsung considers a matte display. There’s also now an 85-inch version to pair with all other sizes starting at 32 inches.
Samsung doubles down on new software features
In addition to the hardware of the new releases, Samsung is also doubling down on the software of its latest TVs. Specifically, there’s a redesigned home screen based on the company’s Tizen operating system, which tries to centralize all your content under one roof. In addition to quick access to your favorite content, there are also carefully selected recommendations, as well as access to Ambient mode to showcase artwork.
Gaming Hub also has several new gaming features. Although it won’t launch until later this year, cloud-based gaming services like NVIDIA GeForce Now and Google Stadia will be able to play directly from the TV thanks to support for third-party controllers.
Unfortunately, Samsung will also implement the ability to buy NFT on all of its new TVs. In addition to being able to view all digital apps and other so-called “art,” you’ll be able to showcase the ones you have right on the big screen.
Check out all of Samsung’s new products in its press release.


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ISBA Conference: Work together to get the most out of digital, says Google
By Sarah Shearman, marketingmagazine.co.uk, Wednesday, 21 March 2012 01:02PM
Advertisers, agencies and media owners need to work together to achieve the right message, according to Dan Cobley, vice-president and managing director of Google UK and Ireland.
Speaking at ISBA's conference today (21 March), Cobley called on the audience to make sure they were getting the most out of digital, by investing in the right "resource and people", which "requires new thinking".
Directly addressing brand advertisers in the room, Cobley said they had to ask if their agencies "are doing enough" and their tools, analytics and planning were "keeping up".
He said: "Are you paying them [agencies] fairly for that? And are you rewarding them for the value they are creating and not just paying them as cheaply as possible?"
Cobley used his speech to give a concise history of advertising, based on the principle of getting "the right message in front of the right person at the right time".
He said that Google's Adwords was "the first big step change" in this history, because "it gets advertising in front of the right people at the right time."
He demonstrated a series of Google ad products and, in particular, focused on how NFC technology can be used in traditional media such as outdoor and print, to make them digital.
He also talked about how the lines were blurring with TV and online advertising, as more and more TVs were connected.
He said: "There is no way a connected TV shouldn't be seen as a 46-inch iPad
"Digital is not online, digital is a part of online, and not an alternative to traditional media."
He stressed that advertising was more relevant when digital and traditional media worked together.
He said: "You guys need to know how to use these tools."
Follow Sarah Shearman on Twitter @Shearmans
This article was first published on marketingmagazine.co.uk
- Senior Creative Major Players £70000 - £80000 per annum, London
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- Google's European leader says viewing habits are 'changing dramatically'
- Land Rover to move global ad account into Spark44
- Martin Sorrell talks Maurice Lévy, Tesco, and the global outlook
- Viacom to bring Breaking Bad to Freeview with Spike launch
- 'Advertisers are snake oil salesmen', says Peter Oborne
- Group M retains £80m Lloyds media


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- The U.S. faces challenges in tax compliance for cryptocurrency transactions, especially with the new tax law lacking clear guidelines.
- Questions arise around the practicality of reporting for certain crypto transactions, like those exceeding $10,000, as required by the new law.
A Taxing Dilemma: Crypto Reporting Under U.S. Law
The United States, on the brink of approving a spot Bitcoin Exchange-Traded Fund (ETF), faces a significant challenge: Is the country’s taxation system ready to handle the surge in crypto investors? Jerry Brito, CEO of Coin Center, raises concerns about the practicality of complying with crypto tax reporting obligations under the current U.S. tax law, particularly following a recent amendment in the United States Infrastructure Investment and Jobs Act.
This amendment, effective from January 1, 2024, requires any recipient of $10,000 or more in cryptocurrency to report the transaction to the IRS. While seemingly straightforward, this poses unique challenges. For instance, Bitcoin miners receiving block rewards above $10,000, or participants in on-chain decentralized exchanges, face ambiguity in reporting the transactions, as the law and IRS guidelines remain unclear on the specifics.
Debating the Feasibility of New Tax Requirements
The debate intensifies as experts weigh in on the new tax law’s implications. Omri Marian, a professor of law, argues that the law is straightforward for business transactions. However, the nuances of crypto transactions, such as those involving Bitcoin miners or decentralized finance (DeFi) platforms, present unique challenges.
Nathan Goldman, an associate professor, notes that most crypto traders may not be affected as their transactions likely won’t exceed the $10,000 threshold. However, large-scale investors and certain transactions, such as selling a full Bitcoin, would necessitate compliance, which could be cumbersome or even unclear, especially in transactions with unknown parties.
The Unique Case of DeFi and Miner Transactions
The decentralized nature of crypto, particularly DeFi transactions, exacerbates compliance difficulties. Miller Whitehouse-Levine, CEO at the DeFi Education Fund, advocates for tailored tax provisions for crypto, citing the U.K.’s approach to DeFi transaction taxation as a potential model.
While Marian suggests that crypto transactions aren’t fundamentally different from traditional financial transactions, the complexity of identifying transaction parties in certain crypto scenarios remains a significant hurdle.
Looking Ahead: Crypto Adoption and IRS Guidance
The lack of comprehensive IRS guidance leaves a gap in understanding how these laws apply to various crypto transactions. This uncertainty could impact crypto adoption in the U.S., though opinions vary on the extent of this effect.
For retail investors, meticulous documentation of their transactions becomes increasingly crucial, especially as IRS scrutiny intensifies in the cryptocurrency sector. The evolving landscape of crypto taxation in the U.S. underscores the need for clear regulations and guidance to navigate this complex domain effectively.


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THIS is a vision of the future for shoppers in Ellesmere Port.
A massive planned expansion of The Port Arcades will see up to four new units added to the shopping complex, totalling 17,500sq ft of retail space.
Work is due to start this week on the site of the old market.
The plan, by centre owners Frogmore Real Estates Partners, has been in the pipeline for more than two years and has been given the final go ahead.
Eric Roseman, director of asset management at Frogmore, said: “This is very welcome investment in the Ellesmere Port town centre and re-affirms the strength of the shopping centre in providing a facility for the local community.”
Phase one of the works, which includes the diversion of a major sewer, should be completed by November, with construction of three of the new units starting next January.
Cllr Herbert Manley, Cheshire West and Chester Council member for prosperity added: “This is excellent news following quickly behind the formation of the Ellesmere Port Development Board committed to the regeneration of the town.”


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Everything VW Tiguan – the German’s compact crossover since 2007, built on its sibling Golf’s platform. The latest reviews, news, pricing, release date, photos and more. For 2018, the Tiguan is completely new; and despite its compact size, offers a third-row as an option.
TractionLife is about hitting the road and enjoying life. We speak to new car buyers and motor-enthusiasts who prefer the unbeaten path, paving their own way in search of adventure, culture, and the best in gear. Let's go.


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Samsung smart appliances will be synced with Kakao’s artificial intelligence platform
Samsung announced a month ago that it’s working with Kakao Corp. on artificial intelligence and voice recognition. Kakao Corp. operates the most popular mobile messager in South Korea and it has been building its own AI platform. It has been revealed today that the Kako I artificial intelligence platform will be synced with Samsung’s smart appliances to create smart services.
This integration with the Kakao I platform will enable users to control Samsung’s smart appliances such as refrigerators, washing machines and air conditioners via its KakaoTalk messenger and AI speaker Kakao Mi.
Samsung and Kakao I
The very first service that Samsung and Kakao will work on allows users to remotely turn on the air conditioner from anywhere using the aforementioned means. The compatibility will later be expanded to enable users to give simple orders to activate multiple tasks at the same time.
For example, they can configure multiple smart appliances to turn on or off at the same time in response to a command. This covers appliances like robot vacuums and air purifiers.
This is part of an expanding collaboration between Samsung and Kakao. Bixby users in South Korea will now see Kako I-based content and will be able to use its lifestyle services. Kakao I users will be able to activate services using Bixby voice commands.


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Toolstation has opened a new branch in Mold, creating seven new jobs for local people.
The latest in its growing network of over 300 branches, Toolstation’s new branch is located at Broncoed Business Park.
A spokesman said the opening demonstrates a commitment to convenience that makes it easier for the local trade to get the supplies they need, when they need them.
Announcing the opening, branch manager Mark Hill says: “It’s great to open our new branch in Mold and to introduce ourselves to the trade locally.
"Our team here really does pride itself on making it quick and easy for our customers to get their trade supplies by calling in or using our click and collect service.
"We are looking forward to lending a hand to the tradespeople nearby, offering the best products for the jobs they have.”
The Mold branch offers a large range of products that includes all the essentials.


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Eversea is pleased to announce that its subsidiary, Eversea Inc., has entered into a contractual agreement with Canada’s Smartest Kitchen to develop a formulation for a nutritional-enhancing ingredient based on Eversea’s patented organic DHA powder. This mixture can be used by companies who are producing plant-based seafoods which require Omega-3s to compete in the fish and shellfish marketplace. Canada’s Smartest Kitchen’s expertise in food science, ingredients and flavours makes it the perfect partner to help develop this new product(s).
Gerri Greenham (CEO) comments: This is an exciting opportunity for the company, to use its unique and patented organic Omega-3 ingredient for the plant-based fish and meat industry, as consumers of plant-based seafood are looking for a healthy, environmentally-friendly product. Eversea has developed a fish-free, algae-based organic Omega-3 that has been certified organic by the EU and USDA. The product does not contain any chemicals, and it has received Glyphosate Residue Free certification from The Detox Project.


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The ATA debuts Archery360.com to popularize and familiarize archery.
The Archery Trade Association (ATA) has made a push for mainstreaming the archery movement with Archery360.com, a newly unveiled website, aimed at teens and young adults new to archery and bow hunting.
Thanks to pop culture and a collection of recent Hollywood films, archery has risen in its status as fringe sport, and the absence of a collaborative, informative website to help introduce newbies was discovered by the ATA.
"The information was and is out there, but it's scattered around the online space and it's not always written or presented in a way that appeals to this age demographic," said Jay McAninch, ATA president and CEO, in a news release. "Archery 360 takes these great beginner resources -- many created by our member companies and partner organizations -- and puts them all in one spot where young people can find them."
Now people just beginning to find out about archery are able to learn how to do it, what to supply themselves with, where to participate, and even stay up to date with competition and industry news.
A shop locator and an events calendar are also featured on the site.
For anyone interested in archery, especially young adults curious about what they saw Katniss Everdeen do in the Hunger Games, Archery 360 hopes to become a regular online destination.


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Arlington Heights police received a report about 4:41 PM Tuesday of a wallet theft at Trader Joe’s, 17 West Rand Road Arlington Heights, IL. Police received a report that an unknown offender or offenders took a removed a silver bi-fold wallet valued at $25 from the victim’s purse while it was in a shopping cart. The wallet contained numerous credit/debit cards and approximately $300 in cash. Fraudulent charges were completed at a Target and a Walgreen’s in Arlington Heights.
Two offenders made purchases with credit cards or gift cards. One offender was seen purchasing electronics valued at over $600. A at the Target store, and second subject was seen using a gift card at the Walgreen’s store in Arlington Heights. Several other charges were attempted at the same locations but those were declined.
The Target store suspect is described as a male/white subject, 30-years-old, 5’6″ thin build, wearing a white golf cap, checkered flannel shirt and blue jeans.
The Walgreen’s store subject is described as male/white, 23 to 30yrs, 5’7″ thin build, no hat, and wearing casual clothes.
The theft is reported to have occurred on Tuesday, August 13, 2013 between 4:00 p.m. and 4:40 p.m.
Get updates from The Cardinal CRIME BLOG ‘Plus’ on Facebook. Just ‘LIKE’ the ‘Arlington Cardinal Crime & Forensics’ Page (become a fan of our page). The updates cover all posts in the 24/7 Crime Alerts! and sub-categories. See all of The Cardinal Facebook fan pages at Arlingtoncardinal.com/about/facebook …


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THE HAGUE, Netherlands (AP) — Dutch bank ABN AMRO says the Netherlands’ central bank has ordered it to check all of its retail customers for possible financial crimes as part of a government crackdown.
The bank revealed the order Wednesday as it announced that second-quarter net profit edged up 1% from the same period last year to 693 million euros ($775 million).
CEO Kees van Dijkhuizen says in a statement that he welcomes Dutch government plans to tackle financial crime. He says the central bank’s recent order to check all customers will cost 114 million euros ($128 million) and warns that sanctions such as a fine “may be imposed by the authorities.”
Last September, Dutch bank ING paid 775 million euros to settle a case linked to its failure to adequately prevent money laundering.


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Experts wary as Facebook spruiks ‘cherry-picked’ ad effectiveness data
Facebook has launched a concerted PR effort to bolster opinion of its ad products and marketing effectiveness, releasing research on the performance of its solutions for businesses.
But while the research shows positive results for marketing activity including Pages and its ad products, the amount of data released has been limited and mostly related to a few select brands. Accused of cherry-picking evidence of its effectiveness in the past, the real story could be less positive than Facebook’s analytics show, according to comments from a local Facebook adman.
Last week, the newly public company’s PR agency contacted Marketing with the findings and an offer to interview a spokesperson based in their Californian headquarters about a report conducted using comScore social media analytics, and its own research into return on investment.
comScore’s report demonstrates how different steps in the social media marketing process work, evaluating the combined impact of owned (a brand’s Facebook Page), earned (amplification of a brand’s content from fans to friends of fans) and paid (ad placements in the right hand column of Facebook’s layout) techniques. The report, dubbed ‘The Power of Like 2′ calls the three techniques, when used together, “a virtuous cycle of brand impact”.
To illustrate rates of amplification, comScore looked at the “leading brands on Facebook”, reporting that most achieve a monthly amplification, or earned media exposure to friends of their fans, of between 50 to 200%, expressed as a ratio of 0.5 to 2.0. This amplification was driven by optimising fan reach and engagement and by supplementing with paid advertising strategies, which for the top ten brands, shown below, resulted in an average amplification ratio average of 1.05.
The report then goes on to look at how Facebook campaigns impact on sales, using an analysis from the American 2011 holiday season examining the social media presence of four leading retailers: Amazon, BestBuy, Target and Walmart. During this period “most of these retailers were highly active with their social marketing programs on Facebook, in some cases soliciting customers and potential customers to become a Fan in order to get a sneak peak at their Black Friday ‘door-buster’ deals,” the report reads. Amplification rates rose by two to four times what they normally were as a result of this activity, and resulted in higher spend levels for fans and friends of fans, compared to the general public, according to an index where a score of 100 represents what a member of the general public spent.
Starbucks was also used as an example, with a control group and test group compared over a four week exposure period, showing a 38% lift in purchase incidence among the exposed group.
Commenting on the results, Facebook’s advertising communications manager, Elisabeth Diana, told Marketing that the findings support the idea the Facebook fans and advertising drive sales to brands: “comScore used a ground-breaking methology to show there is a causal link between seeing a branded message from a brand on Facebook or seeing an ad for that brand on Facebook and driving sales.”
Facebook’s own research into ROI, which was conducted across more than 60 brands, claims a return on investment per advertising dollar of three-fold for most campaigns, and for some a return of five-fold. For “campaigns using a variety of third party methodologies like panels and mix media models, all client initiated, we have seen that, in all the studies run on ROI to date – not cherrypicked – all of the studies we have run” a return on ad spend of three times or better in 70% of cases and a return of five times or better in 49% of cases.
With highly publicised cases of big brands pulling out of advertising on Facebook, such as General Motors, and criticism over their ad formats, the newly public company is under increasing pressure to display a stronger monetisation strategy.
Ben Willee, general manager and media director of STW Group’s Spinach Advertising, which runs Facebook campaigns for a number of local clients, agrees with criticisms of the social networks ad approach. “The Interactive Advertising Bureau has a number of standard formats that have been developed over the last ten years to suit advertisers and to suit the industry and Facebook doesn’t operate in that space,” Willee says.
“Facebook’s formats tend to be in a position and a size that are less eye-catching than other digital formats. In a medium that’s super cluttered, it’s really hard to cut through at the best of times, let alone when you’ve got one hand tied behind your back with a format that is perhaps not as good as it should be.”
Willee’s comments support the notion that Facebook has been ‘cherry-picking’ the data it releases to give a positive impression of its products for marketers. “Stronger brands will always perform better in any research because they’re much more salient,” Willee says. “Here you’re talking about a bunch of big American brands that have very sophisticated social media campaigns. We haven’t necessarily seen any big brands go to that level of sophistication within Facebook in Australia.”
Where Facebook can be the most powerful is in sponsored stories, which Facebook is yet to release any data on, or any sponsored ad that uses friends’ likes to promote engagement, according to Willee. “What we’re seeing is that’s enormously powerful and absolutely working it’s socks off, because people want to operate in communities and think if that person likes it then I will like it as well because that person and I are quite similar. We know that little things like that are enormously powerful. Imagine what we could do if we had bigger formats and access to richer data.”


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By Alison Frankel
(Reuters) - With a single ruling this week, U.S. District Judge James Robart of Seattle federal court may have fundamentally altered the balance of power between Motorola Mobility and the leading opponents of Motorola's soon-to-be-parent Google, Microsoft and Apple.
In another indication that the smartphone war is shifting away from individual infringement suits, Robart granted Microsoft's motion for a temporary restraining order, which effectively bars Motorola from acting to enforce whatever relief it is granted in an ongoing German patent case.
In that case, before a court in Mannheim, Motorola has claimed Microsoft Windows and Xbox products infringe German patents that are part of Motorola's standard-essential portfolio. The Seattle judge, according to this transcript of the order he issued in open court, agreed with Microsoft that the German patents are already at issue in Microsoft's case before him, which accuses Motorola of breaching its obligation to offer standard-essential patents on fair and reasonable licensing terms.
Robart granted the temporary restraining order under the Anti-Suit Act, which is intended to restrict forum-shopping and harassing litigation. That is how Microsoft and its counsel at Sidley Austin described Motorola's German suit. According to Microsoft, Motorola first tried to extract exorbitant licensing fees for a portfolio of about 100 worldwide standard-essential patents. Then, after Microsoft filed a Seattle federal-court suit asserting that Motorola's licensing demand was a breach of its contract with a European standard-setting body, Motorola sued Microsoft in Germany for infringing German patents that were part of the portfolio at issue in Seattle.
The judge agreed that Motorola appeared to have run to Germany to obtain an injunction there before he could decide the merits of Microsoft's contract case. Microsoft's U.S. suit, he said, included the same patents Motorola was asserting in Germany, because those German patents were part of the portfolio for which Motorola demanded allegedly improper licensing fees. Robart concluded that under the Anti-Suit Act, he has the power to block Motorola from enforcing whatever relief it wins in Germany until he rules on the larger question of reasonable licensing fees for standard-essential patents.
"The battleground in this … is whether the United States action, or resolution of it, would be dispositive of the foreign action to be enjoined," the judge said at Wednesday's hearing. "And I will add, for the edification of the Court of Appeals, so it knows where I'm coming from, that I consider the preservation of my ability to resolve this dispute to be something that needs to be carefully guarded, otherwise we run into the possibilities of conflicting resolutions, duplicative litigation, and unfortunate results that don't follow appropriate law."
Why is the ruling so significant? Injunctions are hard to obtain in U.S. patent litigation, so patent holders in the last five or so years have taken advantage of easier injunction standards in Germany and elsewhere to gain leverage in global patent disputes. The Robart ruling holds that, at least in cases involving worldwide standard-setting portfolios, U.S. litigation trumps cases elsewhere. That's a potentially significant shift in the balance of power between patent holders and licensees.
Expect to see Apple, for instance, point to the ruling in its own standard-essential litigation with Motorola. Apple sued Motorola in San Diego federal court in February, making essentially the same argument as Microsoft. It claimed Motorola's German assertion of standard-setting patents against Apple violates Motorola's contract with the standard-setting body. The parallels with Microsoft's case suggest that Apple will also be able to use the Robart ruling to block Motorola from enforcing any German injunction it obtains.
The leading authority on standard-setting patents, Jorge Contreras of American University's Washington College of Law, told Reuters Robart's ruling is "pretty astounding." He said he has never before seen a contract case involving standard-essential patents serve as the basis of an Anti-Suit injunction -- and said that the U.S. judge's assertion of his authority to block foreign patent actions is "very surprising." Motorola, he said, has to offer a worldwide portfolio of patents to licensees of standard-essential technology. So to say that conclude that such an offer precludes litigation over patents in the portfolio outside of the U.S. "seems like a significant reach….I can see this being a really important decision."
Microsoft deputy general counsel David Howard told Reuters that the ruling means "Motorola can't prevent Microsoft from selling products until the court decides whether Motorola has lived up to its promise." Motorola, pointing to the $100 million bond Robart ordered Microsoft to post, said the ruling means Microsoft is committed to license its standard-essential patents. Motorola patent counsel K. McNeill Taylor and outside counsel Steven Pepe of Ropes & Gray was not available for comment.
Motorola has not said whether it intends to appeal the temporary restraining order, which is set to last only until a May 7 hearing on Microsoft's motion for summary judgment. The Mannheim court, meanwhile, is expected to issue its ruling in Motorola's German injunction bid on May 2.
(Reporting By Alison Frankel)