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Impact and sustainable investing
5 min read 20 Sep 22
In the heart of Africa lies the Democratic Republic of Congo (DRC), a country two-thirds the size of Western Europe and home to vast swathes of the Congo Basin – the world’s second-largest rainforest and a critical lung for the planet, as well as Africa’s most biodiverse protected area – the Virunga National Park whose famous inhabitants include the mountain gorillas.
However, the sheer size of the DRC means that its people are separated by two time zones and huge distances, which makes digital connectivity all the more vital for a population of close to 90 million people where infrastructure is lagging. According to data from the World Bank, as of 2020 14%2 of the DRC’s population use the internet while 46%3 have mobile subscriptions versus 98% and 80% respectively in high-income countries.
So, how can investors target SDG 94 (Innovation, Industry & Infrastructure) and generate impact by fostering social inclusion for a growing young population who want to play a part in the country’s economic future?
We believe one avenue is to invest in companies which enable access to mobile communication services in underserved regions where penetration is low. M&G’s Positive Impact team invests in Helios Towers, which owns and operates telecommunications towers in high-growth African markets, including the DRC, Tanzania and Congo Brazzaville.
“Helios Towers has a high-quality business model and socially beneficial objectives, both linked to growing mobile access in Africa,” says Ben Constable-Maxwell, Head of Impact Investing at M&G Investments. “These regions have Africa’s fastest-growing populations but also areas where mobile and other infrastructure is limited; that combination of a growing population who want to participate in the benefits of the digital economy versus a current lack of opportunity is an anomaly the company is explicitly looking to address.”
With an abundance of natural resources – from cobalt to copper, and cassiterite to timber – the DRC’s traditional economic model has been largely extractive, societally unequal and environmentally problematic. In a region beset by these challenges, we believe there is an opportunity to drive a more participatory development model based on access to information rather than resource extraction, one that seeks to help to close the digital divide by increasing access to critical services.
According to a joint report on Africa’s internet economy by Google and the IFC5, a 10% increase in mobile internet penetration in Africa increases GDP per capita by 2.5% versus 2% globally. Consequently, improved digital connectivity also provides fertile ground for innovative solutions.
“The African internet opportunity is driven by the talent of young digital entrepreneurs,” the report notes. “Start-ups are solving some of Africa’s most challenging issues, such as access to healthcare for remote populations, employment opportunities for women, and the ability to securely send and receive money. Advanced technologies – tailored to data-driven, scalable, and pan-African approaches – are providing new ways for Africans to conduct business and earn income.”
We believe double materiality enables investors to take both an ‘outside in’ perspective, focusing on how the company is managing those external factors that may affect its prospects, as well as an ‘inside out’ viewpoint which addresses the real-world impact the company is having on people and the planet.
“Helios Towers has a co-location business model where the mobile tower is not just used by one mobile operator, it can be used by up to four operators. This de-risks the use of that tower from an investment perspective, but it also lowers the cost for the customers and reduces the carbon footprint,” explains Constable-Maxwell. “The structure of their business model is inherently lower risk because of that co-location, mobile mast sharing model which reduces costs and increases the likelihood of success.”
Helios Towers is aiming to expand the number of towers by more than 10,000 across the 8 markets it operates in by 2025 as well as increasing the number of sites specifically in rural and underserved regions by about 1,500 by the end of 2025. As the company grows, how can a ‘double materiality’ perspective help investors gain a more holistic picture of its prospects, encompassing both financially material ESG risks and also the company’s real-world impact on people and planet?
For Helios Towers, financially material ESG issues would include employee retention, customer satisfaction and risk management around issues like bribery and corruption, all factors that are likely to affect the company’s growth prospects and long-term financial success. But addressing double materiality seeks to combine what is financially material to a company with what is material to people and the planet.
“Helios is an excellent illustration of this concept,” says Constable-Maxwell, “demonstrating robust management of those financially material ESG issues (‘outside in’), but also a business model that is inherently driving economic empowerment and financial inclusion (‘inside out’).”
Mobile technologies and services contributed to more than $130 billion in economic value in sub-Saharan Africa in 20206 – and this is projected to exceed $155 billion by 2025, but with more than a fifth of the region’s people offline the coverage gap is significant. With its population set to triple by 21007, mobile and internet connectivity must play a significant role in supporting social and economic development.
“For people and groups with limited economic opportunities the question is: how can impact investors support their economic empowerment via improved access to information and communication, enabling them to access life-enhancing services like mobile health, education and banking, even in a rural community without traditional infrastructure. In this way, people can save, invest and build for a better future, while creating the right environment to help entrepreneurs grow their businesses sustainably,” says Constable-Maxwell.
This is a sample representation of our work with a client. Outcomes will vary and there is no guarantee that we can achieve any particular results with any particular manager in any particular asset class. The value of investments will fluctuate, which will cause prices to fall as well as rise and investors may not get back the original amount they invested. Past performance is not a guide to future performance. The views expressed in this document should not be taken as a recommendation, advice or forecast.


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Alibaba Group Holding Ltd. may get its cheapest dollar-denominated syndicated loan ever as it negotiates with banks to amend terms of its existing $4 billion borrowing.
The Chinese Internet giant wants to cut the interest margin of the facility that it signed in May 2016 by 25 basis points to 85 basis points over Libor, said people familiar with the matter. That would be the cheapest rate ever for Alibaba, Bloomberg-compiled data show. It’s also the lowest margin among outstanding loans of local peers Tencent Holdings Ltd. and Baidu Inc, according to the data. Alibaba declined to comment in an emailed statement.
Alibaba and other top-tier firms are using their stronger credit profiles to cut loan costs as lenders grow cautious on weaker companies in the wake of soaring defaults in China. Hong Kong’s New World Development Co. and Shenzhen-based women’s shoe retailer Belle International Holdings Ltd. trimmed interest rates and extended maturities on their existing syndicated facilities last year.
Alibaba is offering lenders an indicative one-off fee of 25 basis points, which will translate to an all-in pricing of 90 basis points, lower than the one it offered in the original deal, said the people, who aren’t authorized to speak publicly and asked not to be identified.
The company is also seeking to extend the loan tenor by five years from the amendment date among other changes to the facility, said the people. The final terms for the amendments and extension haven’t been finalized yet, they said.
The $4 billion syndicated loan was originally due to mature in 2021. Alibaba also has a $5.15 billion syndicated loan due in 2022 which has an interest margin of 95 basis points, according to data compiled by Bloomberg.

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Inside the unassuming warehouse of Pietra Stone Gallery in Doveton, Melbourne, a world waiting to be explored awaits.
A big backyard with a beautiful pool, could life get much better than that? According to a Hendra, QLD homeowner, that was just the beginning!
Summer is just around the corner, so make sure you are ready for the heat with these helpful hints and tips for tiling in hot weather!
The National Tiles and Grand Designs Australia Tiler of the Year Award for 2020 has been awarded, with…
With voting now for National Tiles Tiler of the Year Awards, here’s your chance to get to know the tiler behind the incredible tiling work that made it to our Top 10 Finalists
Narrowed down to just ten finalists, the National Tiles and Grand Designs Australia 2020 Tiler of the Year Awards is now taking votes
In an industry first, National Tiles and Grand Designs Australia, in partnership with their sponsors, have recently launched the inaugural Tiler of the Year Awards 2020
We previously shared the start of this great pool, infinity spa and feature wall project that is underway…
A disused side yard is revitalised with a classic pool design
Whether you are renovating, building or revamping your home, we discuss and compare different types of flooring with industry experts to help take the stress out of choosing the perfect floor


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Words by Stephane Pignard, General Manager at Altavant Consulting
Due to the pandemic restrictions preventing the spread of Covid-19, there was a collapse of opportunities, which divided people into those who are “ready to act” and those who decided “to wait”. In self-isolation, people took a fresh, closer look at the role of AI and digitalisation – at the opportunities and benefits it opens to the world of retail, and perhaps its’ threats if left uncontrolled. In fact, the pandemic also divided people into techno-optimists and techno-pessimists, that is, those who are ready for changes and those who are not. The former are distinguished by a high sensitivity to diversity, and the latter crave for tradition, fueled by a fear of entering into a new digital era.
Maintaining a digital presence became a bare minimum requirement during the pandemic, as in-store shopping was largely put on hiatus. For the past two decades, digitalisation has become the greatest evolution making it crucial for all kinds of businesses to transform their operational processes to digitally advanced software technologies to meet customers’ changing expectations and preferences.
Today, consumers want seamless, secure interactions. The rise of digitalisation has brought people closer and made communications significantly easier, and it has become more convenient for customers to engage with stores and each other. For instance, retailers can now inform customers using omnichannel platforms and manage to keep them nearby. An enhanced customer experience incorporating omnichannel technologies gives retailers a big opportunity to create competitive advantage and differentiation. Understanding their needs and catering to their desire proactively will significantly help in retaining customers and acquiring new ones because, nowadays, consumers are looking for unique, personalised shopping experiences, both online and in-store, anytime, anywhere.
It is crucial for retailers to sync online and in-store shopping experiences. According to Statista, in 2022, the forecasted value of e-commerce sales in the United Arab Emirates will stand at $27 billion. E-commerce sales in the UAE were estimated to grow by an average of 23 percent per year between 2018 and 2022. Additionally, the report found that 51% of UAE consumers say stores that have e-commerce websites with multiple brands and categories and provide pickup in-store as well as delivery options are the places where they do most of their online shopping, as it is the most convenient, seamless, and less time-consuming experience.
Now, with omnichannel solutions available at our fingertips, retailers can quicken day-to-day operational processes like CRM, ERP, POS, RFID. So what are the three main reasons to go fully digital?
J Lindeberg was started by Johan Lindeberg in 1990s with the aimSeptember 2, 2022 | By Shruthi Nair
Majid Al Futtaim has made significant strides toward environmental, social, and corporateJuly 5, 2022 | By RetailME Bureau
Locally-owned supermarket Spinneys and pharmacy retailer Aster Pharmacy have joined forces to
Majid Al Futtaim has announced its audit reviewed operational and financial results
Dubai’s largest developer Emaar has announced that it will sell it’s online
Walmart announced this week that it will offer Paramount Global’s streaming service
Employee retention has been on every company’s minds, especially since the fears
The Frozen Chicken’ as Spinneys was fondly referred to back in the
Veppy.com, a Q-Commerce marketplace startup just announced their go live date in the
GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading
Lulu Group International recently introduced the world’s first AI-powered Food Delivery Robot
Eid Al-Fitr is an occasion to gather with your friends and family
Leading retailer LuLu Group further strengthened its presence in the Emirate of
Jones the Grocer, the Australian gourmet grocer and café chain, announces further
Let’s be honest. There is no such thing as a fully sustainable
The latest State of the UAE Retail Economy report has been released
According to a recent NielsenIQ study, 60% of Saudi Arabian consumers say they’re buying a greater variety of brands
The top 25 global retailers by market capitalisation (MCap) reported a 14%
Words by: David Lancefield, Director of Software Solutions, EMEA, Zebra Technologies Most
Saudi-based Fawaz Abdulaziz Alhokair Co. announced its results for the full year
The RetailME Tech and Marcom Summit, which saw more than 45 speakers,
A recent report published by Talkwalker and YouGov has revealed the shifts in
“It was all sand”, I recently heard from yet another Dubai resident
B2B, B2C, B2B2C, D2C… as much as they look like a strange
Back in 2017, a lot of TV and newspaper headlines were overtly
SML, an end-to-end RFID specialist for brands around the globe, has announced


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Grocery stores changed overnight with the rise of coronavirus. Because they were able to stay open, they had to figure out how to adapt. Some have implemented new ways to better facilitate digital orders. Others have re-thought their interiors to be safer for customers and staff alike. Here's a look at all the physical changes the grocery industry has seen.
Even before stores were forced to shut down to the coronavirus, shopping malls were struggling. In October, the number of vacancies at shopping malls reached an eight-year high, according to commercial real estate data analytics company Reis. Now, shoppers may be even less enthusiastic about visiting the mall than they were before the coronavirus. As a result, malls have to make a few key decisions in order to ensure that they survive the coming year.
Some of the big owners of retail space have announced their reopening plans. They involved newly-crafted protocols that have never been tested before. While other retailers are taking it slowly, all are trying their best craft a proper reopening strategy. Here's a look at how some are working together and what it takes to develop a true list of best practices.
Target's CEO just warned that this Q1 will bring lower profits than expected. While not surprising, it does paint a bleak picture for other retailers in similar situation. Companies big and small have had to shift their program online. If Target is having difficult making the economics work, it's going to be much worse for others.
Whole Foods just announced that it was closing one of its popular Manhattan locations to handle only digital orders for the time being. It highlights the crunch even the most prepare retailers are facing. But once things begin to normalize, all grocery players are going to have to re-think and re-invest to better handle online fulfillment.
Essential retailers' workforces are under a lot of strain right now, as they are being forced to keep up with unprecedented demand, while at the same time many of their employees may be calling out sick. As a result, relying on robots to complete more in-store tasks is starting to look more and more attractive to retailers. Before the coronavirus pandemic, retailers including Walmart and Giant Eagle were starting to test out using robots in their stores for tasks like unloading pallets of inventory and scanning shelves to get a count of inventory. Now, that trend will likely accelerate.
I’m not working today. I have bad anxiety, and have increasingly become more terrified of killing someone’s grandma. I’m not as worried about getting sick myself, so grocery shopping for me has become awful. Even before the strike, I’d been cutting back on work. Thankfully my rent is paid through April, but I’m terrified of falling behind on bills.
Toy stores haven't fared well over the last century. But a new crop of retailer are trying to rethink the entire category — and make it less of a toy store and more of an experience. Will it work?
As other types of retail businesses have temporarily closed their stores in the wake of the coronavirus outbreak, grocery store workers and employees at big-box chains like Target and Walmart have found that their jobs have become more critical than ever before. Shoppers are flooding their stores looking for toilet paper, hand sanitizer and to stock up on two weeks worth of groceries. That leaves workers scrambling to fulfill order pick-ups and make sure the stocks are shelved before the stores are opened, coming in earlier than usual to unload extra trucks, and struggling to keep up with more frequent cleanings that have been ordered by corporate offices.
This week, Neighborhood Goods opened its third location in Austin, Texas. With it, the company is also offering brands a new digital dashboard to better understand store analytics. As more physical retail concepts become popular with digital brands, the ability to analyze and contextualize real-time data is increasingly becoming table stakes.
ThredUp just announced a new partnership with Gap that would let customers consign their old clothes. It shows the secondhand clothing platform staking it claim as a helpful brand partner for traditional retailers looking for a refresh.
"We really thought the opportunity was to combine healthy and safe needle piercing with really accessibly priced, fun jewelry in an environment that the customer was excited to spend time in," Harman said.
Strip malls are starting to get a second look from some retailers who have historically ignored them. Last week, both Macy's and Sephora announced that they would seek to open more stores in strip malls in the coming years. Last year, supplements brand GNC announced plans to close 700 of its mall-based stores, and instead focus on its stores in strip malls, which were reporting "relatively stable" store comps.
Staples is launching Staples Connect, a concept store that will include spaces for co-working, podcast recording and events. The office supply chain said the format, which initially announced it last April, will debut in six Boston area Connect locations, and is “built around the ever-evolving needs of the retail customer.”
Advertisers, from DTCs scrapping for share in a crackling at-home beauty market to seasoned retailers leaning into the quarantined consumer’s e-commerce surge, what’s changing about your campaign KPIs? How are you using data to make choices and effectively budget across channels? What’s working, what’s broken and how will you fix it? Take this survey and get the full results plus a $5 Starbucks gift card.
At the Modern Retail Virtual Forum, we’ll bring together senior retail marketers online to discuss the challenges they’re facing and the solutions they’re seeking in the era of smarter retail.Buy Passes


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There has been a lot of talk this season about the play of NFL rookie quarterbacks, including Andrew Luck, Robert Griffin III, Russell Wilson, Brandon Weeden and Ryan Tannehill.
Now comes the time to anticipate the play of rookie advertisers in the Super Bowl.
This year's list of first-time Super Bowl advertisers includes Unilever's Axe, Gildan Activewear, SodaStream International, Wonderful Pistachios (Paramount Farms), AMC's "The Walking Dead" and two brands that could have upped the recognition factor among viewers even more by joining forces: Oreo cookies and the Milk Processor Education Program.
Considering that 30-second spots on CBS averaged $3.8 million and that the network said it has sold spots for $4 million, is that too much to risk?
“As a lifestyle brand synonymous with innovative products and marketing, we are always pushing boundaries into uncharted territories,” Gaston Vaneri, brand director for Axe, said when Axe revealed its Super Bowl participation. “We [are] taking our interaction with our fans to new heights, so the Super Bowl became the obvious platform to share it with the world.”
Back in 2008, there were six newcomers to the broadcast of Super Bowl XLII on Fox, which represented 18% of all advertising during the game. That year, 30-second spots were going for an average of $2.7 million.
That number jumped to 10 first-time advertisers during Super Bowl XLVI this past February, which represented 30% of all advertising, according to marketing and research firm Kantar Media, New York. Among the rookies during the NBC broadcast were Century 21, Dannon, Lexus, Acura, H&M and 2nd Story Softwear.
The average cost for a 30-second spot was $3.5 million, so do the math when you figure that the telecast averaged more than 111.1 million viewers, topping the 111 million viewers for Super Bowl XLV and making it the most-watched program in U.S. TV history.
It also was the first time that the NFL streamed the game live via the Internet and mobile phones.
"We believe that the buzz and the conversation that began at the Super Bowl enabled us to carry through with many other activities, advertising, tools and other activations that have taken us to where we are today," said Bev Thorne, CMO for Century 21. Based on such figures as a 20% boost in total leads and a 40% climb in Web site traffic (versus what Thorne said was 4% industry Web site growth), the real estate firm is back in the mix for Super Bowl XLVII.
That also raises a Catch-22 that both rookie and veteran Super Bowl marketers must face: Do you release your commercial online days or, in some cases, a week before the game to cash in on word-of-mouth buzz, or let it all ride on the surprise of the in-game launch?
Last year, Lexus opted for the early breakout (which also included a social media contest driving visitors to the Super Bowl spot), in part to shine a light on its first Super Bowl ad and in part to separate itself from the pack of the dozen auto-related spots that would run during the game.
"People have never seen Lexus on Super Bowl Sunday," Brian Smith, vp-marketing for Lexus, said regarding the strategy. "So some people would say that Lexus is making a statement."
It goes without saying (but we'll say it anyway) that a Super Bowl spot does not guarantee success. Super Bowl XXIV in 2000 is infamously known as the "Dot.Com Super Bowl" due to the plethora of Internet-based companies — the majority of which were rookie one-hit wonders — that advertised during the game. The average going price of $1.1 million helped to break the bank of such companies as Pets.com, Epidemic.com, Lifeminers.com, Netpliance.com, OnMoney.com and LastMinuteTravel.com. (To be fair, E-Trade, WebMD and Monster/HotJobs survived.)
Oreo is using its debut into Super Bowl advertising this year as a pinnacle of the brand's 100th birthday celebration. "Oreo is an incredibly iconic brand that is beloved by consumers in America and around the world," according to Laurie Guzzinati, a spokeswoman for brand owner Mondelez International, which took over as Oreo's parent company in October. "So we look for iconic ways and iconic places to showcase that."
Meanwhile, SodaStream USA, the domestic subsidiary of SodaStream International, will use the game to enlighten consumers about its services as manufacturer and distributor of home beverage carbonation systems, which convert tap water into carbonated soft drinks and sparkling water.
The messaging will pit relatively unknown SodaStream against deep-pocket beverage giants. PepsiCo has spent nearly $182 billion on Super Bowl advertising over the past 10 years, according to Kantar Media. This year, Pepsi upped the stakes by taking over sponsorship of the Super Bowl Halftime Show and forming a partnership with halftime star Beyoncé to carry their alliance worldwide.
Rival Coca-Cola has spent in excess of $80 million during Super Bowl broadcasts, according to Kantar Media.
"Our new commercial highlights the revolutionary benefits of our technology, confronting the conventional and arguably outdated beverage industry by showing people that there is a smarter way to enjoy soda,” Daniel Birnbaum, CEO for SodaStream, said upon sharing the news of the company's Big Game entry.
Bottom line: Rookies need to step up and make as much or more noise than Super Bowl veterans.
According to Birnbaum, “The massive reach of this campaign will help spread [our] message, beginning with over 100 million viewers on Super Bowl Sunday, and will include follow-up commercials and other integrated marketing activities. Our commitment to invest in the Super Bowl is in line with our broader efforts to significantly increase our market penetration in the U.S. and globally."


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There is nothing wrong with looking across the fence and being overly ambitious but I think someone is really determined. Microsoft has been in secret talks with HTC to have the Taiwanese company dual-boot Windows Phone and Android mobile operating systems on its current broad line-up of Android devices.
HTC previously joined the Windows Phone family with well designed devices (as usual) like the HTC 8X but has since shown signs that it will focus all its energies on Android. With things not looking up for HTC, narrowing down its focus to a few devices on the Android seemed like a good idea and they have been doing well as far as delivering world class devices is concerned. Even then, the finances don’t look good and Redmond could be dangling the same carrot it won over Finnish handset maker Nokia with. HTC is in a vulnerable situation and any cash from Microsoft for the deal may be a lifeline for the company and the said deal could push through.
Windows Phone currently has a marketshare of a mere 3.7% though recent research show that it is gaining traction in Europe more than any other mobile platform. Microsoft is moving aggressively with its effort to popularize Windows Phone starting with the acquisition of Nokia’s handset business in a deal announced last month and set to be finalized early next year. With fewer OEMs showing signs of making devices running Windows Phone (either due to low marketshare or fear of Nokia’s dominance of Windows Phone), convincing them to include Windows Phone alongside other platforms like Android could be a big deal for Microsoft. Sony currently has no plans to release a Windows Phone device while LG, Samsung and HTC remain passive.


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News for the Hospitality Executive
Elite Meetings International Announces
Mark Ley as Director of Marketing
Sales and Marketing Executive to Spearhead Building Communities and Social Networks Around EMI’s Suite of Products, Services and Events
SANTA BARBARA, CA, January 20, 2010 – Elite Meetings International (EMI) announced its second executive appointment of the new year, naming Mark K. Ley to the position of Director of Marketing. Ley comes to Elite Meetings from Auberge Resorts and has deep experience in hotel sales management, marketing and training. Most recently he was Director of Sales at Rancho Valencia, an Auberge Resort. Ley will begin his duties with EMI in early February and will operate out of Southern California; he can be reached at 805-730-1000 or mley@EliteMeetings.com.
“We are delighted to announce Mark as our new Director of Marketing, our second executive appointment in 2010,” said Kelly Foy, EMI’s Chief Executive Officer. He added, “A key value driver for our company and its partners is building vital, interactive communities around our innovative products, services and events – Mark brings a dynamic track record and set of ideas in this area, and we look forward to his leadership as we enter a year that promises even bigger accomplishments for EMI.”
Among his responsibilities, Ley will manage EMI’s database and online community building efforts – using social media to help grow customers’ involvement with Elite’s products – and create marketing programs that help the company’s hotel partners grow sales. Ley will work closely in these areas with EMI’s sales team and with Carol Lynch, EMI’s Director of Planner Communications, whose appointment was announced earlier this month.
“I am excited to join Elite Meetings at this dynamic time for the company,” said Mark Ley. He concluded, “Having worked with the EMI team from the customer side and participated in Elite’s success to date, I am eager to make a strong contribution as we enter a new decade.”
In addition to other milestones, in 2009 EMI announced two innovative new technologies: FaceTime™, EMI’s proprietary appointment scheduling system, and SpeedRFP™, the only online Request For Proposal (RFP) tool that is completely portable, enabling planners to take meeting, event, and incentive RFPs anywhere on the web, and submit an RFP on any SpeedRFP-enabled site, with as few as 3 clicks.
Both of these innovative technologies will be demonstrated, and actively used to help planners and hotels do business, at three EMAs in 2010, including the first ever offshore EMA in Hawaii, January 24-26, 2010, and at its Spring and Fall EMAs. FaceTime will be featured at the Hosted Buyer program at MPI’s MeetDifferent event in Cancun, in February. Additional announcements are expected in coming weeks.
A Native of Hawaii, Ley has more than a decade of experience in all aspects of hospitality sales and marketing. He spent three years with Auberge Resorts, including opening its Solage Calistoga property in Calistoga, CA. Ley is active in numerous industry organizations, including Meeting Professionals International (MPI). He lives with his wife and daughter in Southern California.
About Elite Meetings International, Inc.
Michael Frenkel, MFC PR
|Also See:||Elite Meetings International Names Carol M. Lynch Director of Planner Communications; Seasoned Sales and Planner Relations Executive will Expand Program of Meeting Planner Outreach, as EMI Brings SpeedRFP, Other Innovations into 2010 / January 2010|
|Elite Meetings International to Present SpeedRFP™ at The Travel Innovation Summit@The PhoCusWright Conference – Available in Q1 2010, SpeedRFP offers a Solution to the Inefficiencies and Costs of Submitting Request For Proposals Online / November 2009|


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Private sector has big role in HCM City’s economic development
Seeing the important role of the private sector to local development, Ho Chi Minh City will work to attract more private investment to carry out smart urban area projects and branch out Industry 4.0 services, said Secretary of the municipal Party Committee Nguyen Thien Nhan.
The city is home to 372,000 private firms, contributing 63 percent of local gross domestic product (GDP) and more than 41 percent of State budget collection, he said at the Vietnam Private Sector Economic Forum in Hanoi on May 2.
However, he said companies face many challenges when investing in the city, including complicated administrative and State management procedures and confusing laws.
He described capital shortage as main reason for low labour productivity, saying average investment in one worker in Vietnam is 20 times less than Japan and 6.5 times less than Malaysia.
Besides, tens of thousands of enterprises in the city have no access to necessary infrastructure and services, making them inefficient.
Nhan said Vietnam needs strong policies to back the development of IT and science and technology enterprises, driving the knowledge economy and service production, while authorities must see corporations’ satisfaction as an important indicator to evaluate the efficiency of administrative reforms.
As for private firms themselves, they should work with training establishments if they want high-quality human resources, he stated.
He expressed his belief that following the forum, the Government will outline rational policies to fit the demands of companies, and localities must join businesses’ efforts to develop the nation’s economy.
Vietnam's fiscal surplus jumps 3-fold y/y
Vietnam saw a budget surplus of VND44.6 trillion (US$1.91 billion) from the beginning of the year to April 15, a three-fold increase compared to a surplus of VND11.3 trillion (US$485.53 million) recorded in the same period last year, according to the General Statistics Office (GSO).
State budget revenues as of April 15 reached VND421 trillion (US$18.09 billion), equivalent to 29.8% of the year's estimate.
Of that total, revenues from domestic taxes and fees in the period stood at VND337.3 trillion (US$14.49 billion) or 28.7% of the year's estimate. Of the sum, the state sector contributed VND43.9 trillion (US$1.88 billion) or 24.7% of the year's plan, the FDI sector VND54.7 trillion (US$2.35 billion) (excluding crude oil) or 25.6%. Moreover, VND69.5 trillion (US$2.98 billion) was collected from non-state industrial, commercial and service taxes, equaling 28.8% of the plan, and VND12.9 trillion (US$554.3 million) from tax on environmental protection or 18.7%.
Revenue from trade jumped to VND67.7 trillion (US$2.9 billion) or 35.8% of the year's estimate, and that from crude oil exports totaled VND15.3 trillion (US$657.42 million) or 34.4%.
Additionally, the government collected VND37.1 trillion (US$1.4 billion) in personal income tax for the state coffers or 32.8% of the year's estimate, and land use rights VND29.8 trillion (US$1.28 billion) or 33.1%.
Meanwhile, Vietnam's state budget expenditures as of April 15 totaled VND376.4 trillion (US$16.17 billion), equivalent to 23% of the year's plan. Of the total, regular spending reached VND274.8 trillion (US$11.8 billion) or 27.5% of the plan. Capital expenditure reached VND65.3 trillion (US$2.8 billion) or 15.2%, and interest payment totaled VND35.1 trillion (US$1.5 billion) or 28.1%.
Sweden's largest business delegation to land on Vietnam for enhanced economic ties
Leaders from more than 50 Swedish companies and trade supporting organizations will arrive in Vietnam next week to explore business opportunities in one of the fastest-growing economies in Asia as a landmark free trade deal between Vietnam and the EU is poised to take effect soon.
The Swedish business delegation, the largest ever and led by Minister for Foreign Trade Ann Linde, will also include officials from Business Sweden and the Swedish Institute. They will join the Sweden-Vietnam Business Summit on May 7 in Hanoi.
The summit is designed to strengthen the position of Sweden and Swedish companies in Vietnam and to showcase Swedish companies’ products, solutions and ethical behavior and their positive effect for Vietnam. With the participation of major names such as ABB, Astra Zeneca, Atlas Copco, Ericsson, Electrolux, IKEA, Oriflame, SAAB, and Volvo Buses, the event will highlight world-class Swedish solutions in manufacturing, smart cities, smart living, transportation, energy, health, education and sustainability.
At the summit, there will be two exhibitions, with one showcasing individual companies and their products and solutions. The other exhibition by the Swedish Institute will focus on Swedish innovative and creative solutions in a number of fields.
The event will be opened by Crown Princess Victoria of Sweden, who will pay an official visit to Vietnam on May 6-8 on the occasion of the 50th anniversary of bilateral diplomatic relations.
In 1969, Sweden became the first Western country to establish diplomatic ties with Vietnam, which was in the middle of a bloody war to fight foreign invaders and reunify the divided nation.
In 2004, King Carl XVI Gustaf and Queen Silvia of Sweden made the first state visit of a Swedish head of state to Vietnam. The royal figures visited Hanoi, Ho Chi Minh City, Hue, Ha Long Bay and Phu Tho province where Vietnam’s first paper mill was built with Sweden’s assistance. The Queen also made a special visit to the National Hospital for Pediatrics in Hanoi.
As two complementary economies, Sweden and Vietnam are looking to enhance trade and investment relations.
The two countries signed the bilateral investment treaty in 1994, aiming to create fair and equal terms and opportunities for investments between the two countries. However, Swedish investment in Vietnam remains modest, with US$365 million in 68 projects to date, putting the European country at the 33rd place among 131 countries and territories investing in Vietnam, according to statistics of the Ministry of Planning and Investment.
With a population of nearly 100 million and the rapidly-rising middle-income class, Vietnam is an attractive market in the eyes of any foreign business, and Swedish companies don’t want to miss the huge opportunities here.
Apart from ABB, Electrolux and Ericsson, which have set their foothold in Vietnam for decades, a bunch of manufacturing and consumer goods companies have been pouring money in Vietnam, forming the second wave of investment from the Nordic country, particularly in the consumer goods industries.
Volvo started to bring its high-end cars to Vietnam in 2016 and is advancing plans to sell trucks and busses in this country. Meanwhile, fashion chain H&M has opened four stores in Hanoi and Ho Chi Minh City and has over 30 suppliers after two years of setting foot in Vietnam.
Well-known home furnishings retailer IKEA has shown rising interest here with plans to build a retail center and warehouse system in Hanoi with an investment of US$450 million, Nguyen Duc Chung, chairman of the Hanoi People’s Committee, said in January.
Tetra Pak, another Swedish giant, in 2016 started building another packaging plant worth US$110 million in Southern Vietnam. It is providing carton packs for major milk producers in Vietnam namely Vinamilk, TH True Milk and Vinasoy.
Impressive economic growth after more than three decades of opening up, growing affluent class and purchasing power are factors behind the fresh investment wave from Sweden, said Swedish Ambassador to Vietnam Pereric Hogberg.
That Vietnam moves up the value chain will also open up new chances for innovative Swedish companies, the ambassador added.
Higher interest from Swedish businesses also stems from the EU–Vietnam Free Trade Agreement (EVFTA), which is the most comprehensive free trade agreement that the EU has ever concluded with a developing country. The FTA is expected to be ratified later this year and come into force in the beginning of 2020, removing the majority of tariffs on imports between the two economies.
Revenue from 26 transport projects falls short of financial plans
Twenty-six transport infrastructure projects under the build-operate-transfer (BOT) format were found to have toll collection revenue lower than the estimates in their financial plans, according to the Directorate for Roads of Vietnam.
The directorate noted in a recent report to the Ministry of Transport that among the 57 BOT projects under its management, 27 had seen higher revenue in 2018 compared with their financial plans, while 26 others had witnessed the opposite. The four remaining projects have not been operational long enough to make an assessment.
The number of vehicles traveling on certain roads is higher than expected, leading to higher revenue for those roads.
The Phap Van-Cau Gie expressway project in Hanoi City took the lead, with revenue of over VND700 billion, followed by an expansion project for two National Road 1A sections running through the northern-central province of Quang Binh, at over VND220 billion. Their revenue was some 10% higher than the estimates.
By contrast, the lower-than-expected revenue of 26 other projects is ascribed to the fact that the number of vehicles passing through is much lower than expected, so the revenue growth rate is far below the predicted rate.
An expansion project for a National Road 1A section, linking Hanoi with the neighboring province of Bac Giang, saw an 87% decline in revenue, generating some VND460 billion.
Meanwhile, the Phu Gia-Phuoc Tuong tunnel project in the north central-coastal province of Thua Thien-Hue recorded revenue a staggering 90% lower than expected, at VND260 billion.
Further, the number of vehicles traveling through tollgates in certain projects is increasing steadily, but their revenue is still suffering a shortfall compared with their financial plans due to the unusually high number of drivers using monthly or quarterly fares.
Moreover, exemptions or reductions in toll fees are being applied, particularly for vehicle users living or working near the tollgates. Some notable examples are the Hanoi-Haiphong expressway project and an expansion project for a National Road 1A section running through the south-central coastal province of Quang Nam.
According to the directorate, declines in revenue among BOT transport infrastructure projects could disrupt their financial plans and raise the levels of non-performing loans or bad debts at commercial banks that have financed these projects.
HCM City boosts trade cooperation with southern provinces
Enterprises from the economic hub of Ho Chi Minh City have poured investments into 42 factories and 72 farms in provinces and cities in the southern region, according to the People’s Committee of Ho Chi Minh City.
Approximately VND30,112 billion (US$1.29 billion) hasbeen invested in provinces and cities in the Southeast and Mekong Delta regions, including an average VND3,000 billion (US$129 million) provided for breeding and vegetable farms annually.
The results were attributed to the 7-year implementation of the trade cooperation programme between Ho Chi Minh City and southern provinces. Thanks to the programme, Ho Chi Minh City and localities in the southern region have co-ordinated to carry out a number of trade promotion activities and establish links to develop distribution systems and supply chains for locallyproduced goods.
The participation of goods produced locally in southern provinces into the wholesale and retail distribution systems in Ho Chi Minh City not only meets theconsumption demand of city’s residents but also promotesgoods production in localities in the south, particularly the production of agricultural, forestry and aquatic products.
Through the cooperation programme, enterprises will beassured of investing in production and business activities and providing capital for farmers at farming cooperativesin southern provinces.
For example, Ho Chi Minh City signed deals with the southern provinces of Long An, Lam Dong, Tien Giang, Dong Thap and others to provide high-quality food withfarm-to-table traceability for the city’s residents.
AirAsia launches Can Tho – Bangkok air route
The first direct flight of Malaysia’s AirAsia from Bangkok (Thailand) landed in the Can Tho international airport in the Mekong Delta on May 2.
The Bangkok-Can Tho air route is the second international service operated by AirAsia to the Mekong Delta city of Can Tho. The first one, the Can Tho-Kuala Lumpur route, was launched in early April.
AirAsia conducts three return flights from Can Tho to Bangkok each week, on Tuesday, Thursday and Saturday. The flights take off at Can Tho at 13:30 and at Bangkok at 11:25.
On the occasion, the airline launched one-way promotional tickets starting from only 730,000 VND, including taxes and fees, for flights on the route from May 2 to September 30, 2019.
Laddawan Meesupwatana, head of products for AirAsia’s Indochinese market, said the new service will help tourism development in both the Mekong Delta and Bangkok.
With the new service, Can Tho became the fifth city in Vietnam connected with Bangkok by AirAsia’s direct air service. The other four are Hanoi, Ho Chi Minh City, Da Nang and Nha Trang, all are major tourist destinations in Vietnam.
Can Tho international airport, which has an annual capacity of 3 million passenger, was put into use in 2011. It served 815,000 passengers in 2018. AirAsia is the only international airline flying to Can Tho.
Quang Ngai solar plant debuts
|The central province of Quang Ngai has put into operation the first solar power plant in Mo Duc District after three years of construction, supplying 28 million kilowatts per hour to the national grid each year and saving 21,000 tonnes of carbon emissions. — Photo vnexpress.net|
The central province of Quang Ngai has put into operation the first solar power plant in Mo Duc District after three years of construction, supplying 28 million kilowatts per hour to the national grid each year and saving 21,000 tonnes of carbon emissions.
The 19.2 MW (megawatt) plant, which was launched last week, is the largest renewable energy project in the province with total investment of VND900 billion (US$39.8 million).
Chairman of the Thien Tan Group, the project owner, Huynh Kim Lap said the project was seen as a typical landmark of the future ‘clean and green’ energy in the province and central coastal Viet Nam.
He said it’s was the first solar power project in the province that aims to exploit potential renewable energy sources in coastal areas as well as cutting carbon emissions.
Novaland to focus on tourism
Property developer Novaland Group is studying new trends and demands in the hospitality segment to bring more value to shareholders, its general director, Bui Xuan Huy has said.
Speaking at the company’s annual general meeting (AGM) in HCM City recently, he said the hospitality market is developing strongly in the country and the company has been seeking to collaborate with professional consultants and operators to develop destinations for both domestic and foreign tourists.
It is developing NovaTourism, and hospitality would be one of its main focuses in 2019-23 in addition to housing and urban areas, he said.
NVL said 75 per cent of its 2,700ha of lands would be used to develop tourism projects, and the rest would be used for housing projects.
This year it promised to bring 2,000 hospitality products into the market.
The main projects it has been developing in recent times include the 1,000ha NovaWorld Phan Thiet in Binh Thuan Province.
In the housing segment, NVL said it would continue to focus on HCM City and neighbouring areas, launching 4,500 new housing products this year and handing over 5,900 others.
It tabled its 2018 results and plans for 2019 at the AGM.
Last year revenues were up 31 per cent to VND15.3 trillion (US$671 million).
Profit after tax surged 58 per cent to VND3.3 trillion.
Last year NVL handed over 4,589 condos to buyers, a 28 per cent rise from 2017, at giant projects such as The Sun Avenue, Sunrise Riverside, Richstar, and Wilton Tower.
The company targets revenues of VND18 trillion this year and profit of VND3.3 trillion, respectively up 17.7 per cent and 0.7 per from 2018.
Novaland has in the last 25 years developed over 40 projects in many segments like housing, office-tel and urban areas.
It entered the tourism sector recently.
Vietnam should strictly monitor zero-tax car imports from ASEAN: Thaco
Vietnam’s leading auto firm Thaco wants the government to strictly inspect zero tariff application on cars imported from ASEAN.
Pham Van Tai, CEO of the Truong Hai Auto Corporation (Thaco), said at the Vietnam Private Sector Economic Forum Thursday that the government must inspect whether cars imported from ASEAN and subject to zero percent tariffs meet the requirement of having a local content of at least 40 percent.
Under Vietnam’s taxation commitments with ASEAN, from 2018, cars imported from other ASEAN countries enjoy zero percent tariffs if at least 40 percent of their value is produced within ASEAN.
"This will help avoid trade fraud and tax losses [to the state]. The point is that to meet the 40 percent localization rate is very difficult, especially for high-end passenger cars," Tai said.
He cited statistics showing that cars imported from ASEAN into Vietnam in the first three months of the year went up to 39,000 units, or half of the 2018 total of 78,200.
"This is in the context of Vietnam’s domestically-made cars competing fiercely with Thailand and Indonesia, which have domestic consumption markets many times bigger than Vietnam."
These countries have been issuing policies to support car manufacturing for years, while this has only happened recently in Vietnam, Tai noted.
He added that Vietnam should remove special consumption tax on car parts produced in the country to strengthen the local supporting industry and reduce the prices of made-in-Vietnam cars.
Vietnam’s car imports last year fell nearly 20 percent from 2017 because of a government decree which set tough conditions for car imports, requiring traders to provide valid vehicle registration certificates issued by authorities from the countries of origin.
Vietnam’s supporting industry for car manufacturing remains weak compared to other countries in the region. There are only 358 such businesses in the auto industry in Vietnam compared to 2,500 in Thailand, according to the Ministry of Industry and Trade. The ministry has also said that Vietnam imports over 90 percent of its auto parts.
The Vietnam Private Sector Economic Forum, the largest of its kind in the country this year, is jointly organized by the government and the Central Economic Commission, in collaboration with VnExpress and the IEC Group.
Support programme improves Ben Tre start-up climate
In three years since it launched the Dong Khoi Start-ups and Enterprise Development Programme, Ben Tre Province has adopted many policies to support start-ups, leading to a rise in the number of businesses and jobs, and economic growth, officials told a review conference held recently.
Since 2016, when the programme was instituted, 1,602 businesses have been established – around 64.08 per cent of the target by the end of 2020 – Phan Van Mai, standing deputy secretary of the Ben Tre Province Party Committee, said.
Besides, 15,039 household businesses, 95 co-operatives and 605 co-operative groups have been set up, and hundreds of training classes have been held for dozens of thousands of start-up entrepreneurs and staff.
Funding worth VND1.76 trillion (US$75.8 million) has been provided to 1,554 projects and start-ups by the provincial start-up investment fund, the Adaptation in Mekong Delta project and banks.
Around 35,800 jobs have been created and 8,408 households have escaped poverty.
Ben Tre Province has been rolling out more and more enterprise- and investor-support policies and reforming administrative procedures to simplify procedures and streamline government services, and holding dialogues with businesses to understand their problems.
The Ben Tre Public Service Centre, which is being set up, will further aid processing of applications.
There are also policies to encourage investment in industrial parks and public projects, start-up contests, start-up consultancy, and networking opportunities.
But Mai admitted that the programme had some limitations such as poor planning leading to limited activities, mentors not helping new enterprises enough, poor encouragement for household businesses to formally register as businesses causing them to be daunted by the possible procedures, and difficulties for some start-ups in accessing the province start-up fund.
Ben Tre should continue to strive to become a start-up province with more innovative enterprises, better links between start-ups and mentors and funding entities and better training, business development and incubation programmes, he said.
Vo Thanh Hao, secretary of the Ben Tre Party Committee, said the province needed to realise the importance of facilitating start-ups and fuelling the desire to start a business.
Several memorandum of understandings were signed at the conference by the Department of Planning and Investment, the Information Technology Park, the Department of Science and Technology, and Saigon Innovation Hub to support start-ups in future.
A fair for Ben Tre enterprises to promote their products was held the same day.
Ben Tre's ranking in the Provincial Competitiveness Index improved to fourth last year from 12th in 2016, Nguyen Minh Canh, director of the Department of Investment and Planning, told the conference.
Improvements had been made in several areas such as competition and access to land, but some problems still persisted, including lengthy waiting periods for businesses to complete procedures and unofficial costs to speed up things and win contracts, he said.
"Improvements to the investment climate are not yet consistent, …. Ben Tre still needs to work on several areas or risk lagging behind," Canh said.
Speaking at a conference on successful start-ups held in conjunction, Cu Van Thanh, chairman and general director of Luong Quoi Coconut Processing Co., Ltd, said passion and a deep understanding of the industry is crucial for a start-up.
The ability to adapt to the current market and making constant technological improvements are also important as are a skilled workforce, good treatment of employees and a conducive working environment, he added.
Nguyen Thanh My, chairman of Rynan Holdings JSC, specialises in agriculture technologies, said that start-up ideas come from awareness of societal problems or market demands.
He said businesses should focus on unique ideas that would bring high value, register for copyrights, as well as improve their English and looking for overseas investment fund.
Truong Minh Huy Vu, deputy director of the Viet Nam National University's Information Technology Park, said Viet Nam's start-up eco-system would need improvements in terms of success stories and thus inspiration, mentors, funds for businesses to expand, and knowledge about start-ups in general.
Mai said: "The number of innovative start-up projects and start-ups that grow up to national or international levels is still small. The pro-activeness and professionalism of start-ups and their supporters need to improve."
Start-ups would need to pay more attention to packaging, application of modern technologies and general business skills as opposed to focusing solely on funding, he added.
Tax incentives can speed up cashless payment in Vietnam
Vietnamese banks are proposing tax incentives for businesses adopting e-payments as a way to boost cashless payments.
Dao Minh Tuan, deputy CEO of Vietcombank, presented this suggestion at the Vietnam Private Sector Economic Forum 2019 Thursday.
He said that most businesses were reluctant to purchase point-of-sales (POS) devices or establish e-payment services with the banks because there were currently no incentives to attract them.
"Incentives, especially in taxes, will attract more businesses to cashless payment, which will increase payment transparency and reduce tax evasion," he said
Vietnam has been trying to promote cashless payments in recent years. Last year, fintech startups raised $117 million, highest among all startup businesses.
But local residents remain more reliant on cash. Sixty percent of Vietnamese population are eligible to open a bank account, but a majority of them, 80 percent, prefer to use cash in daily transactions, according to the Ministry of Industry and Trade.
Although e-commerce has been growing fast at 25-30 percent a year in recent years, 80 percent of customers still use cash-on-delivery payment for products they order online, the ministry said.
Le Xuan Vu, board member of Military Bank, said that tax incentives and other incentives are needed to increase cashless payment not only for businesses but also people at large.
"Cashless payment remains unpopular in Vietnam because people prefer to see and touch products before paying for them. If local banks can guarantee to compensate customers for fraud and fake products, they will trust cashless payment and use them more regularly," he said.
A government resolution issued in January recommended that cashless transactions made viable for all urban household bill payments by the end of this year, prioritizing mobile payments and payment via card readers.
The State Bank of Vietnam has been asked to come up with solutions that would promote the use of electronic wallets, wherein users can deposit cash into their e-wallets without the need for a bank account.
Vietnam benefits from firms’ moving out of China
Vietnam, boasting complete infrastructure, abundant industrial property on offer and a line-up of inked free trade pacts, is an attractive destination for world’s leading corporations, who are shifting production out of China due to high costs, said real estate consulting company CBRE Vietnam.
The company reported an increase in production shuffle from China to alternative locations in Southeast Asia, including Vietnam, last year, citing the results of a survey conducted in November 2018 by the UBS Lab which collected responses from 200 manufacturing companies with significant export business or supply to exporters from China.
The survey said key drivers for moving export production out of China include lower labour cost, lower land cost, less trade barriers, easier access to supply chain, better infrastructure and more industrial policy support, among others.
According to CBRE, Vietnam may be well placed to benefit from this production shifting as the Government continues to make heavy investment into infrastructure, and help producers get better access to key export markets by participating in many bilateral and multilateral trade agreements (FTA). Besides, the country’s sound economic fundamentals like GDP growth, foreign direct investment and inflation rate become key drivers to Vietnam’s competitive and land acquisition cost and labour cost.
CBRE experts said that industrial parks in the country achieved good occupancy rate of between 70 - 90 percent, and infrastructure connectivity played a major role in the occupiers’ location decision.
Meanwhile, Vietnam has signed many bilateral and multilateral free trade agreements, comprising five within ASEAN, six others between ASEAN and its partners including China, the Republic of Korea, Japan, India, Australia and New Zealand -, and four bilateral free trade deals. As the pacts allow removal of duties among membership countries, they will help foreign manufacturers setting up production in Vietnam to enjoy tax benefit when they export to those markets.
CBRE’s survey showed that the number of factories in Vietnam named in Apple supplier list increased from 16 in 2015 to 22 in 2018, all of which are FDI companies. Recently, GoerTek, an Apple supplier, decided to move its AirPods production base (wireless earphones) to Vietnam.
Following the same trend, Samsung Electronics Co., Ltd announced last year that it would cease operations its mobile phone production plant in China. Currently, 29 Vietnamese companies act as Samsung’s Tier-1 supplier. The localisation rate jumped from 34 percent of total product value in 2014 to 57 percent in 2017.
Senior Director and Head of the Research and Consulting Services for CBRE Vietnam Duong Thuy Dung said that as for the remainder of 2019 and the full 2020, there will be an increase in industrial property supply across Vietnam to benefit from this production shifting from China.
Digitization could add billions to Vietnam GDP: official
Vietnam could add $162 billion to its GDP in 20 years’ time by turning its economy digital, says a deputy minister.
Deputy Minister of Planning and Investment Vu Dai Thang said this at the Vietnam Private Sector Economic Forum on Thursday morning quoting the findings of Data 61, an Australian data science research and engineering firm. Vietnam’s GDP is currently $223.9 billion.
He also cited the company as warning 38 percent of jobs could be lost to digitization.
Thang quoted Google and Singaporean sovereign fund Temasek as saying Vietnam's digital economy was worth $9 billion last year and is expected to reach $30 billion by 2025.
The digital economy is growing rapidly and permeating all aspects of socio-economic life in all countries, and would completely change the way in which production, organization, provision of services, consumption, and communication are done, he said.
"Enterprises are the keystone to this growth, and businesses should proactively look to apply digital technologies to smooth the transformation and lay the foundation for Vietnam’s digital economy."
Meanwhile, the Ministry of Planning and Investment is working on a national strategy to capitalize on Industry 4.0 to enable businesses to take advantage of opportunities presented by digitization, he added.
The Ministry of Information and Communications has said it has been tasked by the Government with drawing up a roadmap for the country’s digitization.
Deputy Minister of Information and Communications Nguyen Thanh Hung said the plan proposes having 50 percent of businesses carrying out business digitally by 2025 and the digital economy then accounting for 20 percent of the nation’s GDP.
It also sets a target for the government of having at least 80 percent of its interactions with the public and businesses carried out digitally by 2025.
The digital economy has been booming in the last few years. It grew by over 25 percent last year and the country can sustain this rate for the next two or three years, according to the Vietnam E-Commerce Association.
Opportunities and pitfalls within private sector development
Vietnam is likely to miss the window of huge opportunities to bolster its future development if it is unable to find a way to leverage the contribution of the private sector.
Micro and small - sized enterprises account for some 95 per cent of the total number of nationwide firms while those operating on medium scale hold just 1.7 per cent.
Prime Minister Nguyen Xuan Phuc has affirmed that the private sector is crucial to adding momentum to the economy as well as improving its competitiveness and flexibility amidst an ever-changing economic and technological landscape.
The Vietnamese Government is always paying close attention and taking specific actions in order to further the private sector’s development. The country is aiming to have some 1 million enterprises established by 2020, the majority of which will be private firms.
The private sector reportedly contributes a total of 44 per cent to the country’s annual GDP value. Yet its development still falls short of expectations due to a number of factors, most notably a lack of consistent policies.
Economist Tran Dinh Thien, former head of the Vietnam Institute of Economics, notes that the distortion in implementing legal institutions and economic reforms are among the key reasons that hinder proper development of private firms. Furthermore, business operations are largely based around close yet internal relationships.
Nguyen Quang Huan, vice chairman of the Vietnam Private Business Association, emphasized the private sector as a stimulus and one of the three key pillars to the development of the socialist-oriented market economy.
Huan said that Vietnamese enterprises and private ones in particular are enjoying good opportunities to make reforms and innovations that work for their common development.
He added that this year the Government will co-operate with the Party Central Committee’s Economic Commission to carry out a joint inspection of the implementation of guidelines and policies by agencies and localities. These are expected to give a boost for the private sector.
Efforts will occur alongside to perfect legal frameworks and regulations aimed to foster the development of the private sector, he noted.
Agencies and localities have reportedly pledged their best efforts to create favorable conditions in terms of capital and land in order to spur growth within the private sector. These could be seen as policy incentives for private enterprises to go ahead.
The vice chairman suggested that in order to tap into the potential advantages of the private sector, further support is required to help private firms grasp business and investment opportunities, and to improve their overall competitiveness.
Despite this, private firms are facing a number of challenges and complicated developments arising from the ongoing US - China trade tensions. The US have kept interest rates rising with the aim of depreciating the value of Chinese yuan.
This has therefore put an impact on the USD/VND exchange rate while hampering the production and export of many domestic firms. Exchange rate pressures have increased interest rates in VND, thus increasing capital costs for domestic firms, Huan analyzed.
Trade protectionism has been on the rise with increased tariffs on imports, rising requirements in terms of quality, origin of product, and hygiene, whilst import quotas have been slashed. These elements generally pose challenges to local firms’ export and therefore have narrowed their export opportunities, he said.
According to Nguyen Thi Phuong Thao, CEO of Vietjet, the country has received significant contributions from top private firms. On average, the private sector annually provides 1.2 million jobs, resulting in a great contribution to the nation’s GDP growth.
Thao called for consensus in terms of perception and actions among the government, all-level authorities, and agencies with regards to the future development of the private sector.
She underlined the need to quicken the restructuring and equitization of State-owned enterprises and commercial banks, aiming to ease negative impacts on macro-financial stability and growth outlooks.
The Government should improve their mechanisms and policies, as well as set forth measures to accelerate the growth of the private sector, with a view to optimizing the use of private sources to upgrade infrastructure items and making the most of opportunities arising from Industry 4.0.
The businesswoman has high hopes that private firms will receive equal treatment to develop them into spearhead corporations in the field of supporting industries.
Pham Dinh Doan, Chairman of Phu Thai Group, said private firms enjoy limited access to sources, whilst natural resources and other key sources are primarily exploited and used by State-owned enterprises.
There should be a shift in the source exploitation from State-owned companies to private firms. Most notably, many State-owned enterprises are acting on business activities and fields that could yield large profits. In order to create more opportunities for the private sector, fruitful business activities and fields should be transferred to the private sector if they are considered competent, whilst state agencies should only carry out its main task of management.
Micro and small - sized enterprises account for 95 - 96 per cent of the total number of nationwide firms while those operating on medium scale constitute just 1.7 per cent.
Private firms are vulnerable to market developments with 60,000 - 80,000 firms dissolved annually. Last year, the figure reached a peak of more than 90,000.


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US food company American Italian Pasta has reported a third-quarter net loss as its operations were hit by the low-carbohydrate diet trend in the US.
The company posted a net loss of US$0.5m, or 3 cents per share, for the third fiscal quarter to 2 July, compared to net income of $12.0m, or 65 cents per share, in the year-ago period.
American Italian Pasta said its results included $9.9m of expenses ($6.5m after tax) related to restructuring, inventory reduction, new product introduction and development, and marketing. The company has been struggling with a downturn in sales caused by the popularity of low-carb diets in the US.
The company said the pasta industry continued to experience significant changes that have been seen over the last 12-14 months, with US pasta consumption continuing to decrease as a result of changes in diet trends. American Italian said retail consumption of dry pasta (as measured by ACNielsen) declined by 5% in volume for the 13 weeks ended 10 July 2004.
Chairman Horst W. Schroeder said the company’s restructuring programme, aimed at cutting costs in the face of current industry trends, is on track.
“The competitive environment of the pasta industry, characterised by declining volumes, excess capacity and aggressive pricing, continues to negatively impact our performance and profitability,” added CEO Tim Webster.
Webster said the company expects to continue to incur higher operating costs during the transition period before its new operating strategies are fully implemented.


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Intel has gone a way beyond the other are trying, that too with a new 3D connections technique, this will let then achieve the power saving standards compared to their immediate rivals. UBM's initiative lets the world know about what actually is happening inside the chips.
Drones are, in essence, flying autonomous vehicles. Pros and cons surrounding drones today might well foreshadow the debate over the development of self-driving cars. In the context of a strongly regulated aviation industry, "self-flying" drones pose a fresh challenge. How safe is it to fly drones in different environments? Should drones be required for visual line of sight – as are piloted airplanes? Join EE Times' Junko Yoshida as she moderates a panel of drone experts.


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Company warned for failing to notify the agency of labeling cautions added to the product after the company received more than 168 injury complaints. The maker of Icy Hot Heat Therapy patches has been issued a warning letter from the Food & Drug Administration (FDA) for failing to notify the agency of labeling cautions added to the product after the company received more than 168 injury complaints. Chattem, Inc. recalled Icy Hot Heat Therapy products earlier this year after some consumers suffered burns after using the products.
The FDA warning letter stemmed from an inspection of the company’s Chattanooga, Tennessee plant conducted from Feb. 5 through Feb 8. The Icy Hot Heat Therapy products were recalled on Feb. 8. The FDA said Chattem has 15 days to notify the agency about steps it was taking to correct problems cited in the warning letter.
Icy Hot Heat Therapy products are air-activated self-heating disposable devices
Icy Hot Heat Therapy products are air-activated self-heating disposable devices designed to relieve muscle and joint pain. Chattem recalled the products after it had received some consumer reports of first, second and third degree burns as well as skin irritation related to their use. Involved in the Icy Hot recall were:
- Icy Hot Heat Therapy Air Activated Heat- Back
- Icy Hot Heat Therapy Air Activated Heat- Arm, Neck, and Leg
- Icy Hot Heat Therapy Air Activated Heat- Arm, Neck, and Leg single consumer use “samples” included on a limited promotional basis in cartons of 3 oz. Aspercreme Pain Relieving Crème.
Chattem said that in September it had added more information on the product’s label about how to use them, and it expanded the warnings to help prevent consumers from misusing Icy Hot Heat Therapy. However, according to the FDA warning letter dated June 6, Chattem did not inform the agency of those label changes in a timely manner. The company also did not report some complaints to the agency within the time period required by law.
FDA warning letter also faulted the Icy Hot Heat Therapy products’ label for a number of inadequacies
The FDA warning letter also faulted the Icy Hot Heat Therapy products’ label for a number of inadequacies. For example, the FDA said the label did not properly explain its warnings or caution that certain users such as children should not use the patches.
The label also said the patches could be used for “up to 8 hours”, which the FDA said “raises significant clinical concerns as this duration exceeds the established time at which a 2nd degree burn has been shown to occur on human skin at the target temperature of the patch.”


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Don’t go looking for a self-serve buffet as restaurants open because it won’t be on the menu.
New provincial rules required restaurants to remove buffets and other self-serve amenities. The restriction is on a long list of rules on Worksafe B.C.’s website giving restaurants a road map for resuming business in a safe manner.
Royal Spice Fine Indian Cuisine on Cloverdale Avenue has been offering takeout and delivery, but is now focused on restarting its dining room, manager Harish Sherma said Tuesday.
He is hoping to open the doors again to seated dining within a week.
When he does, the restaurant’s traditional buffet will not be there. Instead, diners will see a new option — a combination of curries as a substitution for a buffet.
At Green Cuisine Vegetarian Restaurant off the courtyard of Market Square, a clear plastic shield has been installed to separate diners from the salad bar and hot foods.
The buffet has been a long-standing feature of the 30-year-old restaurant, where popular items remain on offer, but only to be consumed off the premises.
And there’s a new protocol.
“We serve the food ourselves,” said owner Andy Cunningham. “We are not a self-serve buffet any more.”
Customers tell staff what they would like and it will be scooped out onto a plate.
“It has been quite a learning experience,” Cunningham said.
He is in the process of working out how to design a viable restaurant with reduced seating in order to comply with new health and safety protocols.
He hopes to reopen seating at half the former capacity, possibly next week. “We are waiting for our Plexiglas order to arrive.”
Green Cuisine benefits from being in Market Square, which provides plenty of space for customers outdoors, he said. Even though seating has been removed from the square, diners find places to perch.
And now that other shops are opening, Cunningham is hoping to see the city’s core revitalized. “All we need is more life downtown.”
On B.C. Ferries, all food services — including the Pacific Buffet — have been closed due to pandemic concerns.
“We are currently working on plans to provide limited food services on our ships,” Deborah Marshall, B.C. Ferries spokeswoman, said in a statement. “When those plans are finalized, we’ll certainly be letting our customers know.”
Sunday brunch buffets were popular at the Fireside Grill on West Saanich Road. But buffets are not on Tim Petropoulos’ mind right now as he thinks about how to reopen seats.
The restaurant’s managing partner expects that a little more than 100 seats will be available, down from a previous capacity of about 260. The massive main dining room will likely hold 40 to 50 seats, he said.
The Fireside Grill is fortunate because it also has upstairs seating and two outdoor patios, allowing for plenty of room between diners.
Petropoulos said a firm opening date has not been set.
Staff were initially laid off when the pandemic hit. Managers have been brought back first to learn protocol requirements so that they in turn can train returning employees. Petropoulos is hoping to see staff numbers return to their normal level of up to 50 by June or July.
“It is going to be a learning curve here for everyone.”


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Pearl Ring | The Best of Pearl Jewelry
Sunday, February 16, 2020
Irish brand Seoidin sets sights on UK market
Aug. 30, 2012
brand hires sales rep based in England. Irish silver
is planning to push into the UK and has hired a sales rep ...
Houlden teams with JSN for exclusive diamond brand
Sep. 9, 2012
The Houlden Group has teamed with the makers of Canadian Ice to create an exclusive diamond
brand that will only be available to Houlden members ...
Choosing a Fashionably Flattering Swimsuit
Wall Street Journal
Apr. 11, 2012
Often, Ms. Delafosse likes to pick swimwear that goes against the
. ... by reading she'd done on the
and culture of Egypt, Morocco and Syria.
Survey: Smaller Retailers Outperforming Larger Ones
Jewelers Circular Keystone Online
Jul. 19, 2012
Spending at small retailers in June outpaced spending at larger retailers for the ninth consecutive month, according to a report by SpendingPulse, a division of ...
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By Matt SmithWii Fit Trainer, the company’s smartwatch competitor, is getting a major overhaul.
The company is moving forward with the launch of the new fitness tracker, dubbed Fit Trainer 2, on September 16.
The smartwatch was originally launched in December 2015 as the successor to the Fit.
But it has since been redesigned to take advantage of a new feature called the Wii Fit Trainer.
The new Fit Trainer features a wide range of new features, including:The fitness tracker will have a larger screen that can display up to 5.5 hours of videoA new, redesigned design with more room for the watch to fit insideThe watch’s battery can last for hoursThe watch can be worn with any wristbandThe watch features a flexible display that lets users choose from a variety of materialsThe watch has a heart rate monitor that tracks your heart rate, with a dedicated heart rate button to let you monitor when you’re restingThe watch will also track your sleep patternsThe new watch is available for pre-order starting September 16 in the U.S. and Canada and will cost $249.99 in the United States.
Nintendo’s Fit Trainer has a 5.2-inch 1080p display and a new face that incorporates an array of sensors.
The wristband also features a more comfortable strap that sits on top of the watch.
In addition to the new watch, Nintendo is also releasing a smaller, $80 fitness tracker called the Fit Plus.
The Fit Plus is a “more portable and smaller” version of the Fit Tracker, and it features a bigger 5.8-inch display, a new design, and an optional heart rate strap.
The new Fit Plus can be pre-ordered starting September 14 in the US.
Nintendo will also release a fitness tracker that’s made of plastic.
The Pebble Time and LG G Watch R, both of which have built-in heart rate monitors, are made of the same material as the Fit and Fit Plus, respectively.


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Fast Times have just opened a new store at Chadstone Shopping Centre in Melbourne.
Krooked and Real's Blunder Down Under tour kicks off next week. Check out this quick Q&A with Sebo Walker in the lead-up to his first time in Australia.
Check out the full results and some photos from the adidas Skate Copa contest held at The Park in Geelong on Saturday.
Street Machine have just opened a new store in Brighton, south of St Kilda in Melbourne.
Some new interviews on the Work in Skateboarding site.
Help Levi's make a new park happen in Christchurch.
Gabbers claims the title for 2015.
We induct Tas into the Slam Hall of Fame.
Congratulations Cody – 2015 New Gen of the Year winner!
A quick wrap-up with photos from Laneway in Brissy.
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Recreational Vehicle Company Issues Two Recalls Due to Safety Concerns
Thor Motor Coach is recalling certain model year 2014-2015 Tuscany XTE motorhomes and 2016 Axis and Vegas recreational vehicles after the discovery of two different safety issues.
In the affected Tuscany XTE models, the dinette convertible table top insert may slide out of position allowing the insert to flip up if it is sat on. This can result in injury to the occupant. The potentially dangerous vehicles were manufactured from March 28, 2013, to Feb. 27, 2015.
Thor is including almost 100 motorhomes in this recall. The company has notified owners, and dealers will install an additional support bracket to slide the table insert into, preventing the insert from flipping up, free of charge.
Thor is also recalling almost 300 2016 Axis and Vegas recreational vehicles manufactured March 26, 2015, to July 6, 2015. In the affected vehicles, the heating, ventilation and air conditioning control may lock on one setting, preventing the operator from changing the air flow, thereby eliminating the ability to defrost the windshield. The resultant decreased visibility could increase the risk of a crash.
Thor has notified owners, and dealers will install a jumper harness to prevent the condition, free of charge.
Both recalls began on Sept. 1, 2015.
Owners with questions can contact Thor customer service at (877) 500-1020.


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A weekly capsule of travel news curated by our writers and editors.
Power Up New guidelines from the Federal Aviation Administration are expected to relax restrictions on specific uses of electronic devices, including reading e-books, listening to podcasts and watching videos. (The New York Times)
Kenyan Concern The siege by suspected Islamist militants at a Nairobi shopping mall represented another potential blow to tourism in Kenya, which has also suffered a series of violent incidents events affecting foreigners. (CNN)
Holding Off American Airlines and US Airways Group Inc. agreed to extend the deadline for completing their $14 billion merger until at least Jan. 18, as the carriers fight a U.S. antitrust lawsuit to block the combination. (Bloomberg)
Tomb Raiders Egypt’s latest turmoil has not only caused a further collapse in tourism but also a vacuum around deserted heritage sites that has led to a surge in antiquities looting. (Bloomberg)


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An Australian men’s skin care line called Eshu Skin Assist has set its sights on the U.S. market. The brand is also in the midst of an initiative to build on a four-item product assortment with items set to launch during the spring and summer.
The firm, which is based in the Melbourne suburb of St. Kilda, initially launched the quartet of facial skin care products in Australia about 18 months ago. Late last year, Eshu gained distribution in a handful of U.S. doors — and founder John Mount’s goal is to grow distribution of the brand to “hundreds” of U.S. doors in the next 12 months.
The firm, which takes its moniker from a West African god of the same name, now generates annual turnover of about $350,000, according to industry sources.
The assortment, which ranges in price from $18.50 for the 140-ml. face wash to $32.95 for the 100-ml. SPF 15 moisturizer, also includes a face scrub (120 ml. for $23) and a second, 100-ml. moisturizer for $29.95. All prices are for the U.S. market.
“There is one main indigenous ingredient for each product,” noted Mount, who pointed to the moisturizer’s Kakadu Plum extract, which has a high concentration of vitamin C. And the face wash includes Paper Bark Oil, a gentle relative of the tea tree family, he said.
Up next for the brand is the March launch of a shave cream and pre-shave oil. A body wash is planned for May.
In the U.S., the line is carried at Truman’s Gentlemen’s Groomers and Spa-Ja in New York. Later this year, Mount would like to introduce the line in London and in the cards could be an eventual launch in Brazil.
Green outer packaging includes simple directions and ingredient information “to speak to men,” said Mount, adding “although women purchase a lot of men’s products.”
And green primary packaging features a diagonal shoulder that comes in handy when product is running low — the design element allows bottles to easily perch on their sides.
While the brand is carried in about 35 or 40 Australian boutiques in Melbourne and Sydney, Mount is on a tour of U.S. retailers in San Francisco — where he was born and raised — and Seattle as part of his aggressive U.S. expansion plan.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)


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Couple stole six TVs from local hotel, police say
A couple faces burglary and theft charges for allegedly stealing six flat screen TVs from a Sioux Falls hotel.
Ashley Arlene Brandeberry and Daniel Slate Sweeris, both of Sioux Falls, face one count of second-degree burglary and felony grand theft.
The 27-year-old woman and the 32-year-old man allegedly stole six 32-inch LG TV’s from three unoccupied rooms at the Baymont Inn and Suites at 3200 S. Meadow Ave., according to an affidavit in support of the arrest warrant.
Hotel staff found the missing TVs after noticing a cleaning staff member’s key card was missing. Hotel staff believe the key card was used to get into the rooms to steal the TVs, according to court filings.
The TVs are valued at $400 each.
Investigators used DNA that was on Gatorade bottles and the wrist band attached to the key card to confirm that Sweeris and Brandeberry were responsible for the break-ins, the court filings said. They were arrested soon after.


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Anthony Cumia is streaming live, and he’s loving being his own boss and being uncensored.
Cumia, you might remember was half of the longtime FM and satellite radio duo of Opie and Anthony. Following a late-night altercation with a woman in Times Square who definitely did not want her picture taken — as well as a series of angry tweets later that evening -- employer Sirius XM fired Cumia last month.
For some people, firing always seems to lead to better things, and that’s been true for all of Cumia’s career. With nowhere left to go, Cumia has created his own online program -- The Anthony Cumia Show (www.anthonycumia.com) -- which streams online Monday through Thursday, from 4 to 6 p.m. ET. A subscription sells for $6.95 per month.
Cumia debuted his online show Monday and, while it sounds like there are a few bugs to iron out, the reports were largely positive. I have no doubt that Cumia’s show is going to be a hit. He’s following a path that’s already been created by talkers such as Joe Rogan and Adam Carolla, both of whom have found huge success online. While those shows are free, Cumia’s fans are paying for a subscription.
There’s so much strong audio content online, it’s surprising that traditional radio endures as well as it does. Music services like Spotify, Slacker, Pandora, and Rdio let people listen to whatever they want whenever they want.
Big names like Amazon and Apple have gotten into streamed music. Podcasting continues to thrive, too. The stereo system for our age is a smartphone streaming wirelessly to a Bluetooth speaker. Whether you want uncensored talk or any style of music, the choices in online radio are only getting better.
Follow TROY DREIER at http://twitter.com/TDreier or e-mail him at email@example.com.


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These Are The Best Earbuds For The Money
Everybody’s nuts about AirPods. They’re small, and they work great with iPhones. Now there are AirPods Pro, and they’re more expensive but better in some ways. They’re still not the best, in my opinion. Jabra just released its latest truly wireless earbuds, the Elite 75t, and somehow, this humble Danish company has managed—yet again—to build something better. They’re small, and they work great with any device. I’m nuts about them. Jabra appeared on my radar a few years ago, when it started selling high-quality wireless headphones at a reasonable price (before this it was best known for its headsets sold to businesses).
- may release a new "completely wireless" in 2021 that would not include a Lightning charging port, according to analyst Ming-Chi Kuo.
- Such an iPhone would likely be the most expensive model in Apple's lineup in 2021.
- In addition to launching a new wireless flagship iPhone, Kuo suggests Apple could also launch a new iPhone SE that year.
First, Apple killed the headphone jack. Now, the charging port could be next.
Apple is reportedly planning to release its first iPhone without the Lightning charging port in 2021, according to TF International Securities analyst Ming-Chi Kuo, who is well-known for his Apple product predictions. Kuo's research note was reported by several outlets on Thursday, includingand .
Not having kids, and other most common regrets
For many, growing older and entering the “golden years” is a time of celebration. Worries about career are often over, their homes are paid off, and they have ample time to enjoy their families or favourite activities. But for many others, the passage of time is just a reminder of all the things they haven’t done, or wish they’d done differently. These are the most common regrets older people have.
Apple did not immediately respond to Business Insider's request for comment.
Kuo predicts that in 2021, the most expensive new iPhone in Apple's lineup will offer a "completely wireless experience" and would lack the Lightning slot that's been present on iPhones since 2012. That suggests the phone will not have a charging port and instead would require that owners charge it wirelessly. The shift is part of an effort by Apple to further distinguish its most expensive iPhone from its other new smartphones, according to Kuo.
For the past two years, Apple has launched three new iPhones: two high-end devices and one less expensive model. In September, for example, it released the $US1,000 iPhone 11 Pro, $US1,100 iPhone 11 Pro Max, and cheaper. Before that in 2018, it followed a similar model with the flagship iPhone XS and iPhone XS Max and more wallet-friendly iPhone XR.
There's more evidence that Apple may be making major changes to some of its iPhone sizes next year
Apple is ordering displays in 5.4-inch, 6.1-inch, and 6.7-inch sizes for next year's iPhones, according to a new report from ET News. This suggests Apple's successors to the iPhone 11 Pro and iPhone 11 Pro Max will come in new screen sizes. The report echoes previous predictions from well-respected analyst Ming-Chi Kuo, who also reported that Apple is planning to shake up the screen sizes for its next-generation iPhones. Visit Business Insider's homepage for more stories.
The new report from Kuo is among the first rumours to emerge about Apple's 2021 iPhones. The company is reportedly planning to introducein new sizes that support 5G connectivity.
Kuo doesn't mention other details about the phone, including what it will be called. But if the company sticks with its current pattern, the 2021 iPhone could be part of a family of devices branded as the iPhone 13.
Other than its flagship iPhones - including the model without any charging port - Kuo predicts Apple will release another version of its budget-oriented iPhone SE in 2021 that will have an edge-to-edge screen but no Face ID. Apple hasn't released a new version of its $US400 iPhone SE since 2016, but the company is rumoured to be planningthat resembles the iPhone 8 in 2020.
When Apple removed the headphone jack from its smartphones in 2016 with the iPhone 7, it positioned it as being part of the company's vision for a future without wires and cables. "The reason to move on, I'm gonna give you three of them, but it really comes down to one word: courage," Apple executive Phil Schillerwhen discussing the headphone jack's removal. "The courage to move on and do something new that betters all of us." The decision to nix the headphone jack was initially met with criticism, but quickly became nearly standard throughout the industry as nearly every modern smartphone now lacks that 3.5mm port. Apple also famously moved away from with its iMac G3 in 1998, in favour of the CD-ROM drive.
If Apple does remove the Lightning port from future iPhones, it may not be long before other smartphone makers follow suit.
One of the top Apple analysts predicts next year's 5G iPhones won't be much more expensive than current models .
Ming-Chi Kuo, an analyst for TF International Securities, said in a research note Wednesday that next year's iPhone 12 models will not go up significantly in price, according to MacRumors. Kuo had previously predicted that Apple plans to launch five 5G-enabled phones in 2020. Apple may instead try to cut costs in its supply chain, despite potential added production costs of between $US30 and $US100 per phone, Kuo said in his note, which was seen by MacRumors. Visit Business Insider's homepage for more stories.


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Government food recalls often seem to involve big, faceless industrial food monoliths, but here’s one that feels a bit more personal: the New York State Agriculture Department has issued a recall for packaged soybean sprouts sold at Essex Farm, one of the produce vendors in the Essex Street Market.
Per the ag department release, which was posted on the Lo-Down, the sprouts are being recalled “due to the presence of Listeria monocytogenes.” Listeria can cause Listeriosis, which has in turn been known to cause meningitis, blood poisoning, and stillbirths. Nasty stuff, in other words.
Essex Farm bought the soybean sprouts in bulk and repackaged them in individual, plastic-wrapped Styrofoam trays; Listeria was detected during routine sampling and analysis by Department of Agriculture inspectors.
So if you bought any soybean sprouts from Essex Farm in the recent past, don’t eat the suckers. Return them and don’t look back.


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Thu, Jan 08, 2009 | 09:29 GMT
Bach: 25 million Halo games sold
Found something: Speaking at CES 09 at the Las Vegas Convention centre last night, Microsoft’s president of the Entertainment and Devices Division, Robbie Bach, said that 25 million Halo games have been sold so far in the franchise.
He went on to say that the average Halo 3 Xbox Live players average at about 150 hours of gameplay.
Bach also added that 3 million people signed up for its Live service within the last three months.
By Mike Bowden


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Taco Bell is branching out yet again and entering the travel business. As their next marketing ploy, the fast food chain is going to temporarily transform a hotel in Palm Springs, California into “The Bell: A Taco Bell Hotel and Resort.”
The taco theme will be implemented throughout the entire resort. The Bell will include taco-themed rooms, taco-inspired poolside cocktails, taco nail art, and even a taco-focused gift shop. There will also be many new experiences that Taco Bell has yet to announce but will not disappoint.
The scheduled opening date for the new resort is August 9th, 2019. Guests 18 and older will be able to book a reservation starting in June. “The Bell stands to be the biggest expression of the Taco Bell lifestyle to date,” said Taco Bell’s Chief Global Brand Officer Marisa Thalberg. “It will be fun, colorful, flavorful and filled with more than what our fans might expect.”
This is the biggest marketing event Taco Bell has ever tried. Previously, Taco Bell has teamed up with Forever 21 to launch a fashion line and is even involved with the wedding industry now. Taco Bell also offers alcohol at particular U.S. locations in efforts to compete with other restaurant chains.
The resort will only be open for a “limited time,”like many specials that Taco Bell has. This is a very interesting concept and we cannot wait to see how it turns out.
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The plans are part of a $1bn investment in the company’s facilities over two years. It is also carrying out a $100m renovation of EverGrain’s new US headquarters at the St. Louis campus.
Dedicated seltzer building
The $50m investment will enhance brewing and packaging capacity at the St. Louis brewery to meet consumer demand.
This includes the upgrading of one of the can lines and a dedicated seltzer building to house new systems and equipment for brewing products such as Bud Light Seltzer and Michelob ULTRA Organic Seltzer, among others.
Additionally, the brewery is being outfitted with advanced technical equipment that allows for the streamlined addition of flavors to the seltzer liquid.
“We take an immense amount of pride in our long-standing history here in St. Louis, and this investment epitomizes our deep commitment to our community and to the broader beer industry,” said Jim Bicklein, General Manager, Anheuser-Busch St. Louis brewery. “This new facility sits at the intersection of heritage and innovation, and adding new capabilities to our landmark campus will allow us to continue expanding our ability and capacity to brew some of America’s most recognizable and beloved brands right here in St. Louis.”
Construction to upgrade the St. Louis brewery is currently under way and completion of the new building is expected to be in Spring 2022.
Anheuser-Busch owns and operates more than 120 facilities around the country and employs more than 19,000 people.


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Avoiding Utility Scams
2/4/2014 (Updated 6:46:39 PM)NYSEG and RG and E have been alerted of a bill payment scam geared toward utility customers.
Customers have been contacted and asked to pay current or past charges by individuals who do not work for NYSEG or RG and E.
Some precautions you can take? When making online payments, don't use email links, go through the company website directly.
When making payments over the phone, confirm the NYSEG or RG and E phone number.
And to eliminate fraud completely, the companies suggest enrolling in it's auto pay service.
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