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‘Winner Takes All’ In India’s New, Improved Economy
The first of two parts: 20 firms account for 80% of the $1.4-trillion wealth Nifty created in the past decade.
Capitalising on the exponential surge in digital transactions and the massive improvements in transport infrastructure and market structure seen over the past decade, a handful of Indian companies—no more than 20—are taking home ~80% of the profits generated by the Indian economy. Simultaneously, a mere 20 companies account for 80% of the $1.4 trillion of wealth created by the Nifty over the past decade. Understanding these drivers of economic and financial polarisation is now critical for achieving success in the Indian stock market.
“….three big revolutions will be—democratizing credit through AA [Account Aggregation Framework], democratizing commerce through ONDC; and essentially making the delivery of products much simpler and cheaper with logistics’ transformation. These three steps will lay the foundation for equitable commercial activity for both goods and services. India will move from a pre-paid cash informal economy to a post-paid formal cashless productive economy.” -Nandan Nilekani in an interview with the Livemint, 2022.
India’s Smallest Businesses Epitomise The Rise Of A New, More Efficient Economy
We are seeing the rise of a new, more efficient, more digital and more scalable India. An example of this is the local chai vendor who has set up shop just outside our office in the Andheri East suburb of Mumbai. A year ago, when the tea stall started business, the said vendor was selling 500-600 cups per day. Today, the vendor sells around 7,000-8,000 cups of beverages per day i.e., 15x growth in one year. Spotting a gap in the market, a cigarette vendor set up shop next to the tea vendor, four months ago. From clocking revenues per day of Rs 1,000/day in his first few weeks, the cigarette vendor now generates Rs. 8,000 per day.
Both of these vendors receive vast majority of their payments via Unified Payments Interface, a real-time mobile-based payment system. According to them, when they started their tea and cigarette stalls hardly 20-30% of people used to pay via UPI. Today, almost 70-80% of their customers pay via UPI (the remainder still use cash). According to National Payments Corporation of India, peer-to-merchant UPI transactions recorded 138% YoY growth in November 2022—chart below shows that in November alone, India recorded 4 billion peer-to-merchant transactions!
If we look at the digital payments data in India, National Electronic Fund Transfer (NEFT) accounts for 55% of all digital transactions in FY22. Going further, if we look at transactions done via smartphones [which includes UPI (16% share), Immediate Payment Service or IMPS (12%), and e-wallets (1%)], they account for another 29%, which brings the total to 84%. If we again add the share of debit and credit cards, another 3.5% is added, which brings the total to 87.5%. Therefore, as of FY22, around 88% of transactions in India (by value) were via digital methods of various sorts.
Among categories which recorded high volumes of approved UPI transactions in November were groceries and supermarkets, eating places and restaurants, games, department stores, pharmacies, etc. In fact, the cigarette vendor outside our office told us that when it comes to online payments, he only transacts via UPI. This implies that he does not use any banking apps or websites, nor does he use debit/credit cards. According to the Ministry of Finance, now more than 40% of total digital transactions (by volumes) in India are via UPI and UPI based transactions amounted to more than $140 billion in August 2022. In other words, on an annualised basis UPI transactions are running at $1.7 trillion per annum. UPI has become ubiquitous in India. For instance, recently one of our colleagues was in a small village in Meghalaya, near the border with Bangladesh, and there he paid for his Maggi noodles using UPI.
The Polarisation Of Profits And Wealth
UPI and the digitisation of business activity in India is one of the several factors driving an exponential surge in the concentration of corporate profitability in India. As explained in this note, improvements in transport infrastructure (e.g., the highway network has doubled over the past decade), the introduction of GST (in 2017) and new business models which have migrated from the developed world to India over the past decade, are resulting in India’s 20 largest profit generators earning a staggering 80% of the nation’s profits as compared to around 40% a decade ago (as shown in Chart 1). This, in turn, is leading to an increasingly polarised stock market.
In the decade ended March 31, 2012, the Nifty added around $440 billion in market cap. In these 10 years, ~80% of the value generated came from 17 companies and the median total shareholder return or TSR CAGR was 26% for these 17 companies. Moving forward by a decade, in the decade ended March 31, 2022, the Nifty added ~$1.4 trillion in market cap. And 80% of the value generated in these 10 years came from just 20 companies whose median TSR CAGR was 18%.
As the table above shows, wealth creation in India is being driven by a dozen and a half companies. Another way to understand this is to look at the polarisation in free cashflows-to-equity or FCFE. A decade ago, the top 20 FCFE generating companies in the Nifty (in the decade ended March 2012) accounted for just 23% of India Inc’s FCFE. Moving forward by a decade, if we look at the top 20 FCFE generating companies in the Nifty in the decade ended March 31, 2022, they account for 51% of India Inc’s FCFE. (See Table 4 in the appendix attached below).
Polarisation in the Indian stock market therefore has two separate dimensions:
A handful of companies—precisely 20—are now taking close to 80% (on a three-year moving average basis) of the profits and more than half of the FCFE generated by the Indian corporate sector—see tables 3 & 4 in the Appendix. Even though the concentration has reduced on an absolute basis in FY22 vis-à-vis FY20 and FY21, the uptrend (as seen in Chart 1) is quite distinct and clear. This profit concentration in the hands of the top 20 companies and an even greater concentration of cashflows in the past decade has allowed strong franchises (with healthy PAT to FCFE conversion rates) to reinvest in their businesses and thus outgrow their competition. And it has nothing to do with quantitative easing by central banks or with Covid.
Just 20 companies have accounted for 80% of the wealth created by the Nifty in the decade ended March 2022. In comparison, 17 companies accounted for the same proportion of the wealth created by the Nifty in the decade ended March 2012, meaning wealth creation has consistently remained concentrated in the hands of a few dominant franchises over the last decade. (See Tables 1 & 2 in the appendix attached below).
Notes for 'Profit After Tax And Free Cash Flow To Equity': Three-year moving averages have been used to smoothen the year-on-year volatility in PAT and FCFE; Free cashflow-to-equity been calculated using cashflow from operations and accounting for fixed and working capital investments and net borrowings; for banks, PAT instead of FCFE has been used; PAT and FCFE of India Inc. consists of only the listed entities as data for unlisted not available year—however, as we have taken a three-year average to smoothen the numbers, this one-year distortion is unlikely to materially change the outcome.
Nandita Rajhansa and Saurabh Mukherjea work for Marcellus Investment Managers. Rajhansa and Mukherjea's families, Mukherjea personally and Marcellus’ clients are shareholders in Tata Consultancy Services, Dr. Lal’s PathLabs, and HDFC Bank. Disclaimer: Read here.
The views expressed here are those of the authors, and do not necessarily represent the views of BQ Prime or its editorial team.


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SpaceandPeople Plc (LON:SAL) declared a dividend on Tuesday, March 27th, Upcoming.Co.Uk reports. Shareholders of record on Thursday, April 12th will be given a dividend of GBX 1.50 ($0.02) per share on Wednesday, April 25th. This represents a dividend yield of 4.92%. The ex-dividend date of this dividend is Thursday, April 12th. The official announcement can be viewed at this link.
Shares of LON SAL remained flat at $GBX 31 ($0.44) during trading on Friday. The company’s stock had a trading volume of 9,021 shares, compared to its average volume of 10,084. SpaceandPeople has a twelve month low of GBX 17.25 ($0.24) and a twelve month high of GBX 42.66 ($0.60).
TRADEMARK VIOLATION WARNING: This news story was published by Ticker Report and is owned by of Ticker Report. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright laws. The legal version of this news story can be accessed at https://www.tickerreport.com/banking-finance/3338737/spaceandpeople-plc-sal-to-go-ex-dividend-on-april-12th.html.
SpaceandPeople Company Profile
SpaceandPeople plc is a United Kingdom-based media specialist company. The Company is engaged in marketing and selling of promotional and retail licensing space on behalf of shopping centers and other venues throughout the United Kingdom, Germany, France and India. The Company’s segments include Promotional Sales, Retail, Head Office and Other.
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Analyst Reactions To Netflix Earnings: Bears vs. Bulls
On Wednesday, Netflix (NASDAQ: NFLX) released its fourth quarter results. The company reported an EPS of $0.79, above the consensus estimate of $0.65. Revenue of $1.175 billion beat the consensus estimate of $1.167 billion.
JPMorgan: Strong quarter, strong outlook
Doug Anmuth, analyst at JPMorgan, said that the company's net additions should continue grow throughout 2014.
Anmuth wrote that the company's net addition of 2.33 million domestic streaming subscribers were 14 percent higher than a year ago and an acceleration of 10 percent growth in the third quarter.
Looking forward Anmuth believes that Netflix's guidance is conservative.
“Netflix expects 4Q's momentum to continue in 1Q and guided to 11 percent year over yaer growth in net adds, though we think this could prove conservative given the launch of season 2 of House of Cards along with the final 8 episodes of Breaking Bad, both coming in February.”
Shares are Overweight rated with a price target raised from $460 to a Street high $500.
FBN Securities: Raising price target
Shebly Seyrafi, analyst at FBN Securities said that Netflix issued a better than expected fourth quarter and a strong first quarter guidance which deserves a price target hike.
“A key part of our positive investment thesis as set forth in our recent initiation is that Netflix will succeed in reducing its international losses, which so far have camouflaged the strong profitability in the domestic business,” Seyrafi wrote in a research note to clients. “We are modeling International contribution profit moving to above break-even in FQ3 2015.”
Shares are Outperform rated with a price target increased to $475 from a previous $425.
Raymond James: Strong quarter, guidance below estimates
Aaron Kessler, analyst at Raymond James, said that Netflix offered investors a strong quarterly report and strong guidance.
In a research report, Kessler wrote that Netflix's addition of 2.3 million domestic streaming subscribers came in modestly ahead of the high end of guidance.
Looking forward, the company is projecting a first quarter 2014 EPS of $0.78, below the analysts previous estimate of $0.84 but above the consensus estimate of $0.78. The company also guided net income of $48 million, below the analysts' estimates of $53.6 million.
Kessler concluded his research note by stating “While we remain positive on the Netflix's fundamentals outlook, we maintain our Market Perform rating as we believe shares are largely pricing in the improved outlook at current levels.”
Shares are rated Market Perform without a price target.
Nomura: Positive on the company but shares valued appropriately
Anthony DiClemente, analyst at Nomura said that Netflix's business model is strong with subscriber additions in the fourth quarter and first quarter guidance above the analysts' expectations. However, DiClemente feels that the Street's expectation for fiscal 2015 may already be fully reflected in share prices today.
“The market expectation implies that Netflix is valued 60 percent to 70 percent greater than HBO, and the market (including us) value Netflix at >20x 2015E EV/EBITDA, which is double the valuation multiples of HBO and Showtime.”
Shares are Neutral rated with a price target of $360 to $375 a share.
Credit Suisse: Continued euphoria
Stephen Ju, analyst at Credit Suisse said that Netflix is on a path towards higher operating profit and free cash flow dollars over the long term as the company continues to build its infrastructure and expand internationally.
“Netflix continued to demonstrate domestic subscriber growth momentum as the 1Q14 guidance parameters imply higher ned adds versus last year. Similar positive dynamics as well as decreasing losses in its International operations have prompted the company to announce expansion into additional European markets in 2014,” Ju wrote in a note to clients. “This should exert some near-to-medium term pressure on profitability.”
Shares are Neutral rated with a price target increased to $349 from a previous $344.
Elsewhere on the Street
- Northland raised its price target from $325 to $375, maintains a Market Perform rating.
- Piper Jaffray raised its price target from $398 to $412, maintains a Neutral rating.
- Cowen raised its price target from $333 to $355, maintains a Market Perform rating.
- Cantor Fitzgerald raised its price target from $350 to $405, maintains a Hold rating.
- FBR Capital raised its price target from $350 to $356, maintains a Market Perform rating.
- Jefferies raised its price target from $215 to $250, maintains an Underperform rating.
- RBC Capital Markets raised its price target from $440 to $500, maintains an Outperform.
- Goldman Sachs raised its price target from $360 to $405, maintains a Neutral rating.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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Citrus Australia signed a memorandum of understanding (MoU) with the Chinese Agriculture Wholesale Market Association (CAWA) on Tuesday night, to strengthen trade relations between the two nations.
“We’re delighted,” said Citrus Australia’s chief executive Judith Damiani. “The MoU is a strategic alliance which provides benefits to members of both associations – and a first for Australian agriculture.”
Zengjun Ma, president of CAWA, China’s largest agricultural distributor representing around 70 per cent of China’s fruit and vegetable trade, welcomed the agreement.
“The prospects are very good because Australia has such vast land and China has huge demand for Australian produce,” said Ma in a press release, adding Australia’s premium produce and counter-seasonality made it an important source of fresh fruit for China.
A CAWA delegation of 21 members visited Australia for their inaugural trip, visiting wholesale markets in Sydney and Melbourne before touring orchards and packing facilities in Mildura and Renmark.
Australian citrus exports to China were valued at A$21m in 2013, with Citrus Australia expecting that figure to double this year.


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69 L Street is now home to the wildly popular Chilacates! This Mexican street food restaurant has many other locations in the Boston area, including Brighton, Brookline, Roslindale, and Mission Hill, with South Boston becoming the newest neighborhood spot!
Chilacates, named for a Mexican pepper, will feature tacos, burritos, enchiladas, quesdillas, tortas and more!
We hear Chilacates will also serve beer and wine too! It will be a welcomed addition to the City Point neighborhood!
The space at 69 L Street has been vacant since a fire closed Tasty Burger back in 2018.
Make sure to follow Chilacates on Instagram for the latest


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Musk said Thursday that he had government approval to begin Hyperloop construction. That’s not quite the case.
The Tesla CEO said he had done "all (he) can" to convince Trump to uphold the Paris accord.
The founder of the Dutch team wants to start building a commercial hyperloop transport system between Amsterdam and Paris by 2021.
Yusaku Maezawa paid a record price for a work by the Brooklyn born artist.
The technology could take about eight to 10 years to become usable by people with no disability, Musk said.
It is the first time in almost a century that the most valuable U.S. carmaker is not based in Detroit.
The Tesla and SpaceX CEO believes humans need to add a layer of digital technology to their brains in order to compete with artificial intelligence.
Tesla CEO makes promise on Twitter to Australian billionaire Mike Cannon-Brookes.
Musk rejected claims of poor working conditions, saying they were "morally outrageous."
Musk says he'll use his role to push his goal of making humanity a multi-planet civilization.
Musk responded to Motherboard's claims that his account is heavily biased.
The SpaceX founder estimated the tickets would cost $200,000 a person.
Autopilot will make 'more effective use of radar' to issue warnings to drivers after May traffic death in Florida.


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The social networking business, which filed its “S1” pre-IPO papers last month, had said it was hoping to raise $1bn in the share sale, but has now raised that target to as much as $1.6bn.
Its flotation is the biggest by any technology company since Facebook’s bungled IPO last year, and is seen as a barometer for the the industry’s appeal to investors.
According to reports, the San Francisco business has told bankers it wants to tempt investors by offering its shares at a modest price. It has also chosen to join the New York Stock Exchange rather than Nasdaq, which is usually favoured by technology companies but which suffered a glitch when Facebook began trading.
Facebook placed at $38 a share but quickly plummeted far below that figure and has only recently recovered.
Twitter will join the stock market on November 14 under the ticker “TWTR”.
However, the company has some way to go to persuade investors that it is a worthwhile bet.
The eight-year-old company doubled revenues to $168.6m in the quarter to the end of September, helped by a surge in mobile usage. However, net losses widened to $64.6m from $21.6m a year earlier.
Since it filed for its IPO, Twitter has been at pains to demonstrate its potential to would-be investors. It has signed a series of deals with broadcasters, allowing companies that buy traditional TV ad slots around a specific show to then buy ads linked to the Twitter conversations about those programmes.
According to reports, Twitter is also preparing to use information about its users to help to sell advertising space on other online platforms.
Twitter will begin its investor roadshow in earnest on Monday. It will need to work hard to convince would-be shareholders that it has longevity and will not be eclipsed by another, more popular platform further down the line.


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Stocks quoted in this article:
The shares of Apple Inc. (NASDAQ:AAPL - 440.23) are on the mend this morning, bucking the broad-market trend lower. What's more, the tech concern has attracted a fresh crop of eleventh-hour option traders, with speculators gambling on the security's trajectory ahead of options expiration this afternoon.
Within the first 90 minutes of trading, Apple has seen roughly 193,000 calls and 135,000 puts change hands, more than doubling its average intraday volume. Soon-to-expire March-dated options are popular on both sides of the aisle, accounting for the top 10 most active strikes thus far, and representing a healthy mix of bullish and bearish bets.
On the call side, traders have taken a shine to the March 440 and 445 calls, which have each seen about 32,000 contracts cross the tape. While the 440-strike calls have crossed on the ask side, suggesting they were bought, the 445-strike calls are trading mostly at the bid, pointing to seller-driven volume. Plus, volume has exceeded open interest at both strikes, hinting at new last-minute positions.
By purchasing the 440-strike calls at a volume-weighted average price (VWAP) of $2.23, the buyers' profit will increase as the shares of Apple Inc. (NASDAQ:AAPL) exceed the $442.23 level (strike price plus VWAP) today. Risk, meanwhile, is limited to the initial premium paid for the calls.
On the flip side, the March 445 call sellers are expecting AAPL to remain south of $445 through the closing bell. In this best-case scenario, the calls will remain out of the money, and the sellers can retain the entire net credit of $0.63 (the VWAP). However, should AAPL muscle atop this level by the close, the sellers could be on the hook to deliver AAPL shares at $445 apiece -- a discount to what they'd get on the Street.
In similar fashion, speculators are also buying and selling AAPL puts. Buyers are picking up March 440 puts at a VWAP of $2.03, meaning they'll reap a reward if the stock breaches the $437.97 level (strike price minus VWAP) within the next few hours. Again, risk is capped at the initial premium paid.
On the other hand, premium sellers are targeting the out-of-the-money March 435 puts, which have traded at a VWAP of $0.63. In order to pocket the entire net credit received at initiation, the sellers need AAPL to remain atop the $435 level through 4 p.m. Eastern, when the options expire. Should Apple Inc. (NASDAQ:AAPL) perform an about-face and perforate the strike, the sellers could be obligated to buy the shares at $435 apiece -- a premium to what they'd pay on the Street.
At last check, AAPL is 1.8% higher to wink at the $440.23 level. The stock has shrugged off an early price-target cut from Sterne Agee, with other analysts seemingly unimpressed by Samsung Electronics' new Galaxy S4 smartphone. Against this backdrop, the security is on pace to end atop its 10-day and 20-day moving averages for just the fourth time this year.


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By Michelle Robertson, SFGATE Updated 1:13 pm PDT, Thursday, April 25, 2019 Crystal Bridges Museum in Bentonville, Ark. Crystal Bridges Museum in Bentonville, Ark. Photo: Handout, Courtesy Crystal Bridges Museum Photo: Handout, Courtesy Crystal Bridges Museum Image 1 of / 28 Caption Close Image 1 of 28 Crystal Bridges Museum in Bentonville, Ark. Crystal Bridges Museum in Bentonville, Ark. Photo: Handout, Courtesy Crystal Bridges Museum I've been to the city US News says is a better place to live than SF. Here’s what I think. 1 / 28 Back to Gallery Fayetteville, Ark., is not where I expected to find myself for a week last July. But there I was, sweating through my tank top, … [Read more...] about I’ve been to the city US News says is a better place to live than SF. Here’s what I think.
Citi business news
PM calls for sustainable development of wood processing industry Last year, Vietnam earned 9.38 billion USD from exporting wood and non-wood forest products Prime Minister Nguyen Xuan Phuc on March 28 issued a Directive on measures to achieve rapid and sustainable development of the wood and non-wood forest product processing industry to serve exports. Wood and non-wood forest products are ranked the sixth most important export product of Vietnam and had average annual growth rate of 13 percent during 2010-2018. Last year, Vietnam earned 9.38 billion USD from exporting wood and non-wood forest products, up 15.9 percent against the previous year and making up almost a quarter of the agriculture sector’s export turnover. Vietnamese wood products have been sold to more than 120 nations and territories. The country is the fifth largest exporter of wood in the world and second in Asia, accounting for 6 percent of the world’s market share. The country now has about 4,500 wood … [Read more...] about BUSINESS NEWS IN BRIEF 30/3
Yeah1 plans to issue shares to raise charter capital Multi-channel media group Yeah1 has announced a plan to issue nearly 62.56 million bonus shares at the rate of 200 per cent in 2019. Each shareholder will receive two new shares for every share he or she already owns. Bonus shares will be available to trade on the stock market after the issuance date. The share issuance will help Yeah1 triple its charter capital to VND938 billion (US$41.2 million) from its current VND312 billion. The value of the deal is nearly VND625.6 billion and the share issuance funding is taken from the company’s share premium recorded in its audited financial report for 2018. As of September 30, Yeah1 had VND1.13 trillion in its share premium and VND73 billion in undistributed post-tax profit. In the first nine months of the year, Yeah1 recorded VND1.03 trillion in revenue, up 111 per cent over the same period last year, and VND131.2 billion in post-tax profit, up 239 per cent. Yeah1 … [Read more...] about BUSINESS NEWS IN BRIEF 18/12
Mexico to face fierce competition from Vietnam: Mexican economists Mexican economists have shared the view that once the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect, Mexico will have to face fierce competition from Vietnam in many sectors, such as garments and textiles, leather and footwear, and electronic equipment. Arnulfo Gomez, a foreign trade expert, said Vietnam has successfully implemented a commercial strategy that helps improve the quality and competitiveness of its products on the international market by reducing spending on materials and applying technology in production. With such advantages, Vietnam has more capacity than Mexico to utilise opportunities generated by the CPTPP, he said. The experts suggested that the Mexican Government set forth new measures to raise the competitiveness of domestic businesses, thus avoiding adverse impacts from the deal. Statistics of the Mexican Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 16/12
Firms should seek to grow stronger in global economy: experts Vietnamese businesses need to urgently adapt their management methods and bravely step out into the world in order to survive and develop in the context of global integration, said experts at a workshop held Ho Chi Minh City on December 13. Vu Thi Thuan, Chairwoman of Traphaco JSC, said Vietnam is going through an extensive and intensive integration process by engaging in groups such as the Asia-Pacific Economic Cooperation (APEC) Forum, the Association of Southeast Asian Nations (ASEAN), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the EU-Vietnam Free Trade Agreement (EVFTA). This allows businesses to expand their markets but also presents a lot of challenges and competition, she said, adding that the development of technology and artificial intelligence requires enterprises to map out sustainable development strategies. Businesses should make plans to maintain comprehensive … [Read more...] about BUSINESS NEWS IN BRIEF 15/12


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Credit Logix minimizes a major pain point for consumers of spending additional time at the dealership – an even bigger concern during COVID-19- while helping dealerships decrease time spent on each deal and increasing profit per deal.
SCOTTSDALE, Ariz., – (August 11th, 2020) Digital Air Strike, the leading consumer engagement technology company, is honored to announce its Credit Logix technology won a Gold Stevie® Award and the People’s Choice Stevie® Award for Favorite New Product at the 18th Annual American Business Awards®. Digital Air Strike’s credit technology benefits both automobile dealers and consumers during the vehicle purchase process.
Credit Logix was awarded a Gold Stevie® Award based on high average scores from judges. The credit pre-qualification technology also won the People’s Choice Award for Favorite New Product after receiving the most online votes in its category. More than 87,000 votes were cast in the online competition.
During COVID-19, it is even more important for car buyers to have the ability to do more of the vehicle transaction process online. Credit Logix assists in virtual retailing by providing various credit application steps that enable prequalification online. The technology also leverages artificial intelligence to find the best available vehicles from the dealership’s inventory to match consumers to specific vehicles based on their unique credit capacity. This is all done virtually without ever having to speak to a salesperson or visit the dealership. Credit Logix streamlines the buying process. By matching vehicles to buyers, the technology has been proven to reduce the time it normally takes to complete financing paperwork on a vehicle purchase from an average of three hours to just 20 minutes or less.
Dealerships that use Credit Logix see a significant increase in per vehicle retail, the amount of money dealers can make per car. They also see a decrease in the time to fund the purchase which helps improve profitability. Additionally, the funding time is also reduced so dealerships get paid by the lender faster, cutting wait times from nine days, to five days or less.
“Consumers have long wanted to spend less time at a dealership and COVID-19 has turned that preference into a requirement,” said Alexi Venneri, co-founder and CEO of Digital Air Strike. “Credit Logix creates a very transparent and efficient consumer experience while minimizing a major pain point for consumers – all while increasing per vehicle profit for dealers as there is less price negotiation.”
The technology initially requires only a name, address and phone number, no Social Security number, for a soft credit pull. This minimizes any extra hits on the consumer’s credit score.
Credit Logix seamlessly integrates into Digital Air Strike’s Response Path AI-powered messaging platform, which immediately engages 24/7 with consumers by responding quickly to any messages. This technology is part of Digital Air Strike’s new Virtual Retailing Program, which allows businesses to interact and transact with customers using multiple mediums, including video, AI, social media, email, chat, and SMS with AI automation.
Digital Air Strike joined other companies receiving awards for its technology, including Bank of America, RE/MAX, Humana and John Hancock. More than 3,600 nominations were submitted for this year’s American Business Awards.
“Despite the toughest business conditions in memory, American organizations continue to demonstrate their commitment to innovation, creativity, and bottom-line results,” said Stevie Awards president Maggie Gallagher. “This year’s Stevie-winning nominations are full of inspiring stories of persistence, ingenuity, resourcefulness, and compassion.”
Digital Air Strike’s technology has previously won many Stevie® Awards, including People’s Choice awards for Favorite New Product for its Mission Control Consumer Intel & Engagement Platform, Response Logix, Response Path and Mobile Review Surge.
About Digital Air Strike
Digital Air Strike is the leading social media, intelligent lead response, and consumer engagement technology company helping businesses increase consumer response and conversions in digital and social media environments while generating measurable ROI. A pioneer in digital response, social media marketing and online reputation management solutions, Digital Air Strike deploys industry specific mobile apps, software, intelligent messaging and managed service platforms to monitor, engage, improve and manage consumer interactions for thousands of businesses in the United States, Canada and 11 additional countries, including working with seven of the largest automotive manufacturers. More information is available at www.digitalairstrike.com and www.facebook.com/digitalairstrike.
About the Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Sales & Customer Service, the Stevie Awards for Great Employers, and the People’s Choice Awards for Favorite New Product. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.


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Namco-Bandai’s J Legend Retsuden (“Jump Legend Biography/History”) launched last week in Japan on the Nintendo 3DS. The compilation combines ten games from the Famicom and Super Famicom library — nine games on the cartridge plus one bonus downloadable for those picking up the first-pressing of the game — with five total Dragon Ball games.
According to Media Create, the compilation pushed 17,675 copies during its first week (covering the period of 04 November 2013 to 10 November 2013), coming in at the #10 overall spot for the week. The nostalgia bomb appears to have been a moderate success, especially considering it was only available for four of the seven days in its reporting period.
J Legend Retsuden has been released exclusively in Japan for ¥4,980. Play-Asia is currently offering the game at $48.99 with free shipping. Please note, however, that the Nintendo 3DS is region-locked, and the game will require a Japanese system to play.


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Come clean on security breaches, organisations urged
IT bosses have backed calls for businesses to be forced to notify customers if their customers' personal details have been compromised by a security breach.
This follows a huge security breach cover-up at an unnamed UK retailer which was exposed after silicon.com revealed that thousands of MasterCard and Visa cardholders have quietly had their cards cancelled and reissued without any explanation about the theft.
The refusal by MasterCard and Visa to name the online retailer has angered some of those affected. CIO Jury: Come clean on security breaches, organisations urged - silicon.com
Back to: PC Security, privacy news


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On the BSE, 1,228 shares were traded in the counter so far as against average daily volume of 1,348 shares in the past one quarter. The stock had hit a high of Rs 1,000 in intraday trade, which is also its 52-week high. The stock had hit a low of Rs 927.65 so far during the day. The stock had hit a 52-week low of Rs 354 on 22 November 2016.
CMI FPE said that PHP Group, one of the biggest manufacturers of cold rolled steel products in Bangladesh ordered a high capacity push pull picking line, a full automated 6-hi cold rolling mill, a state of the art continuous galvanizing line, as well as two finishing lines from the Indian affiliate of CMI industry for its cold rolling mill complex in Feni, Bangladesh. The new plant is expected to go into operation in mid-2019.
CMI FPE reported net profit of Rs 0.19 crore in Q1 June 2017 compared with net loss of Rs 6.58 crore in Q1 June 2016. Revenue jumped 119.22% to Rs 55.75 crore in Q1 June 2017 over Q1 June 2016.
CMI FPE (formerly known as Flat Product Equipments (India)) was incorporated in 1986. The company, over the last 28 years, has acquired a global leadership position in the design, manufacture, erection and commissioning of cold rolling mill complexes, processing lines, chemical equipment, industrial furnaces and auxiliary equipments for the world wide steel industry.
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Those in Washington know that the best way to get steam behind a public policy issue is by building on the momentum of a national news cycle. Well this week the Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade held a hearing entitled “The Threat of Data Theft to American Consumers”.
was in response to Sony’s announcement on April 26 of a massive data breach caused by computer hackers that resulted in the theft of 77 million user accounts. What caused an even greater uproar was that Sony announced the breach seven days after the incident occurred. To make matters worse, Sony subsequently announced that the 77 million data theft was preceded by a data theft a week earlier that resulted in the loss of 25 million user records due to a hacker attack. The data stolen contained names, addresses, birth dates, phone numbers and other similar type of information.
During the hearing, there was testimony from David Vladeck, director bureau of consumer protection, Federal Trade Commission; Pablo Martinez, deputy special agent in charge, Criminal Investigative Division, U.S. Secret Service; Justin Brookman, director consumer privacy project, Center for Democracy and Technology, and Dr. Gene Spafford, executive director, Purdue University.
Most of the panelists agreed that Sony’s data breach could have been avoided easily by updating its software with security patches and applying simple encryption techniques. It also was reported that a Sony user forum noted that Sony had failed to provide minimum security measures several months before the April breaches occurred. This only served to irritate the members of the subcommittee, including Subcommittee Chair Mary Bono. It also did not help that Sony refused to send a company representative to participate in the hearing.
The good news is that this and other similar types of breaches has initiated a renewed discussion on the need for a national data breach law that preempts the existing patch work of state laws that now number at about 42. In fact, Vladeck specifically stated during the hearing that he supported a national data breach law, as did the other members of the panel. The specifics will have to be worked out, but Subcommittee Chair Bono announced that she will introduce a national data breach law in the near future. As is in all cases, the devil will be in the details.


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Cherries: In 2013, Tmall.com partnered with U.S. Northwest Cherry Growers to sell 180 tons of cherries to Chinese consumers. Sales increased to 600 tons in 2014. Because of improved logistics, American cherries can be delivered to Alibaba customers as little as 48 to 72 hours after they’re harvested. They’re shipped via plane to Beijing and Shanghai.
Apples from Washington State: The Washington Apple Commission is a relatively new seller on Tmall Global. (Not long ago, imported apples were banned by Chinese regulators who feared they would bring outside insects into the country.) In the spring of 2014, the commission held a promotion on Tmall Global to sell boxes of apples grown in rural Washington. The sale sold 5,000 cartons of apples, or sales of $100,000. This year, Chinese consumers bought 7,500 cartons of apples, worth around $150,000 from Singles Day promotions. But shoppers got a surprise: On this year’s Singles Day, all apples sold from Washington State included a QR code, which allows purchasers to scan them with their mobile phone to verify the authenticity of the fruit.


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Acer launched Windows 8.1 tablet, Iconia W4
Acer has launched new tablet with Windows 8.1- Iconia W4. this is an upgraded version of Iconia W3. Recently Microsoft has released its new windows – Windows 8.1 which is supposed to be fastest Windows till date. This tablet features the following:
- 8-inch IPS display has 1280x800p resolution and features Zero Gap touch technology and 170-degree viewing angles.
- Intel’s new 1.8GHz BayTrail processor.
- Windows 8.1
- 5MP rear camera and a 2MP front-facing camera
- 32/64 GB storage option
- 32GB of expandable memory
- Connectivity: Wi-Fi, MicroUSB, microHDMI and Bluetooth 4.0.
Acer is giving microfibre Crunch Cover with the device for $40 and crunch keyboard for $80. Expected price of this tablet is $329.99 for the 32GB model and $379.99 for the 64GB variant.


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One of the most frequently asked questions we’ve received regarding the coronavirus so far has been, “Can you let us know which local grocery stores will offer hours just for seniors?”
You asked, we’re here to answer.
Basket from Gourmet Shop | Photo via @thegourmetshop5points
National chains with Cola locations
A number of national chains with Columbia locations have started implementing senior shopping hours. Here are a few:
From 7-8 a.m. Monday through Thursday, shopping will be reserved for customers 60+ and high-risk individuals.
From 8-9 a.m. on Wednesdays, shopping will be reserved for elderly guests and those with underlying health concerns. Online shopping with curbside pickup is also available.
From 7-8 a.m. on Tuesdays and Wednesdays, shopping will be reserved for customers 65+.
From 7-8 a.m. on Tuesdays and Wednesdays, shopping will be reserved for seniors, those with compromised immune systems, underlying health issues and pregnant women.
Click here for more national grocery stores that are offering senior-only hours.
Local businesses are jumping on board with the concept, too. While these businesses aren’t currently offering senior-only shopping hours – they do have options in place that allow seniors (and the general public) to shop for groceries without having to enter a store:
You can order curbside pickup Monday through Saturday. Orders must be sent in before 11 a.m. + can be picked up after 3 p.m.
Curbside pickup and delivery (within 15 minutes from the store) are now available for café and retail items.
While we’re on the subject, there are a few other Midlands organizations helping to serve the needs of local seniors, while practicing social distancing:
Senior citizens are eligible to pick up five free meals once a week from one of the Senior Resources pick-up locations. Each car is limited to two meal packs.
Seniors (60+) living in lower income communities, within the City of Columbia, who are traveling to doctors appointments, grocery stores or the pharmacy are eligible for free rides.
We know you guys have a lot more questions regarding the impact of the coronavirus on our community + resources that are available. Ask your questions here, and we’ll do our best to keep finding answers.


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If you were lucky enough to pre-order the Microsoft Surface Studio, get ready to hold down your excitement, as the company has started sending pre-shipping notifications to users who pre-ordered on the first day .
It's a slightly ambiguous move by Microsoft. Pre-ordered devices were originally slated to ship on December 15th, but was rescheduled to sometime in early 2017. According to Brad Sams, a writer for Thurrott, early buyers can now expect their device to be processed and delivered this week, if you ordered the device during the first day of availability. The news comes after a user tweeted an image from an email they received from Microsoft, as seen below.
The Surface Studio has been met with critical acclaim, praising the device not only for its gorgeous screen and beautiful design but panning it for its steep price point.
Whether or not the price is justified, it is clear Microsoft is relentlessly targeting a niche market, hoping to win over creative types alike. One can assume Microsoft shouldn't have too many problems, as the Surface brand has reinforced itself as a trustworthy and strong competitor in the market.
While there will always be two sides to the coin, it is hard to disagree with how eye catching the Surface Studio is. The Studio's bespoke craftsmanship would surely complement the pristine and sterile environment studio spaces are often known for. Perhaps at this point, it is anyone's guess, but it will be interesting to watch Microsoft at least try to infiltrate the artistic market, and hope it works in the company's favor.
If you have pre-ordered the Surface Studio on the first day it became available, be sure to check your emails for a confirmation from Microsoft that your device will be shipping soon.


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Even a cursory dip of the toe into hype surrounding blockchain will make you aware that people are predicting that the technology will revolutionise everything from international shipping to medical insurance.
In fact, the sheer frenzied hype that has built up around the distributed ledger technology can lead often confuse people as to what the technology actually does.
Blockchains, or distributed ledger technology, are distributed databases that are autonomously managed through peer-to-peer networks. Once recorded, data stored in a blockchain cannot be altered retroactively.
With regards to enterprise, blockchains are essentially business networks that are smart and tamper-resistant ledgers of business activity.
What does any of this have to do with marketing? Well Emerging Insider Communications asked 600 marketers what they thought about blockchain’s marketing potential.
Areas of applications
88% of respondents believe that blockchain technology has the potential to positively disrupt the existing marketing ecosystem.
In particular, marketers are most interested in seeing how the technology can be applied to:
– loyalty programmes (24%)
– ad verification (23%)
– making consumer data more transparent (21%)
– CRM (15%)
However, only 15% of respondents felt like they knew enough about the technology to explain it to their customers. This is despite 40% reading a blockchain related article in the last month, highlighting the fact that technical jargon is likely to be an ongoing problem.
Technical language and abstract concepts were highlighted as a major challenge for both marketers and their clients.
48% believed the technical language of blockchain is too confusing for audiences, while 72% thought that their own agency lacked adequate knowledge of the tech’s capabilities.
Does this create opportunities for those that do have a good level of knowledge? 36% of respondents thought that blockchain specialists and thought leaders will rise to prominence in the marketing industry.
35% thought that they should be actively exploring the technology now, will 52% were happy to wait and monitor developments.


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Area Denny’s offering free Grand Slam eats on Tuesday
Area Denny’s restaurants have extra eggs and extra servers on hand Tuesday as they prepare to give away a free meal to anyone who get in the door.
The restaurant chain used the biggest marketing stage in the world — the Super Bowl — to invite everyone to a free Grand Slam breakfast from 6 a.m. to 2 p.m. Tuesday.
“We’re expecting lines out the door the whole time,” said Penny McCormick, assistant manager at the Denny’s in Boardman.
For more information, see Tuesday’s Vindicator or www.vindy.com.


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Stay informed: SA Government – Corona Virus Regulations & Guidelines
Although the rules were pretty unclear in the time leading up to the lockdown, the government has since stepped up by setting out clear guidelines and regulations for businesses and consumers to follow. These include export control regulations, transport regulations and banking sector exemptions.
You can view all of the COVID-19 whitepapers here to find out how your business is being impacted and what rights you have to continue running your business under lockdown
The Western Cape Government has put together a comprehensive list of essential goods and services that is also worth familiarising yourself with. These documents include a list of essential services that can remain open during lockdown, such as supermarkets, medical facilities, and factories involved in the production of essential goods. There is also a list of essential goods that businesses are allowed to sell and consumers are allowed to purchase, such as groceries, animal food and toiletries.
Extracted from an article by PayFast
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Google will be holding its annual I/O keynote that mainly focuses on developers working with the Android ecosystem, this event is also special as at times we get to see some hardware and other exciting announcements with respect to the future products of Google.
What to expect from the event?
Google has published a schedule of its keynote, this schedule gives us a clear-cut idea of what we can expect from this event. The event will be flagged off with the CEO, Sundar Pichai giving us a rundown of the direction that the tech giant is headed towards.
Google is now placing an emphasis on green projects and the protection of the privacy of all users. Many believe that the Pixel Watch and the budget Pixel 6a smartphone will be revealed at this event.
The program hints toward certain AI-related announcements that are due. Some new Google Assistant features are also expected along with new smart speakers for homes.
Leaving the hardware part aside, the highlight of the event is more likely to be more centered on Android 13 OS and the next-generation Wear OS. Some developers are also talking about Chrome OS, AR, and AI developments.
Check this link out for more details!


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Realme is all set to launch its two new smartphones in India next week but before its official launch some leaks about these smartphones are there and on some retail stores these smartphones were also spotted. Realme will launch its two new smartphones that are Realme Narzo 10 and Narzo 10A in India which comes with 5,000mAh battery.
Many people saying that it is just a rebrand version of Realme 6i which was launched in Myanmar last week. Realme launched these smartphones on 26th March in India.
So let’s take a look at the specifications of Realme Narzo 10:
It comes with a 6.5-inch display with 89.8 percent screen to body ratio.
It packs with 5,000mah battery.
Talking about the camera it comes with a quad rear camera setup of 48MP+8MP+2MP+2MP sensor and at the front, we have a 16MP sensor.
It is powered by the MediaTek Helio G80 octa-core processor which is paired with 3GB of RAM and 64GB inbuilt storage.
Talking about the pricing of Realme Narzo 10 in Myanmar is MMK 249,900 which is roughly around Rs. 13,300 and 4/128GB variant priced at MMK 299,900 which is roughly around Rs. 16,000.


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As an effort to achieve the 2018 target of welcoming four million tourists, West Nusa Tenggara (NTB) Provincial Administration is aiming to attract Russian tourists.
Deputy of Indonesian Ambassador to Moscow, Russia Lasro Simbolon is on board with the mission and has invited NTB to take part in the Indonesian Festival in Moscow that will be held on Aug. 3 – 5, 2018.
Lasro said that Lombok in NTB, Bali and Yogyakarta are main destinations among Russian tourists when they travel to Indonesia. He also encouraged the NTB provincial administration to create bigger tourism promotions.
In 2016, there were 20 million of Russians who traveled overseas, but only a small percentage of this number went to NTB.
“The Indonesian Festival in Moscow is the right event to promote NTB to the people of Russia, we are optimistic that the number of Russian tourists can increase up to 50 percent,” said NTB tourism department head Muhammad Faozal.
This year, NTB is targeting to welcome 3.5 million tourists, up until October the number had reached 3.1 million people.
In 2018, NTB will have several tourism events such as Komodo Exercise in May. Then there’s also The 2018 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group that will take place in Bali. Lombok is expecting to welcome at least five thousand tourists from these two events.
Source : Jakartapost
Singer Judika will take the stage at Crossborder Atambua Festival in Atambua on Dec. 1.
The concert will be located at Simpang Lima Atambua, East Nusa Tenggara (NTT) and is aiming to attract international tourists from neighboring country, Timor Leste.
“Atambua is the closest area with Timor Leste and is the entrance gate of Mota’ain checkpoint that connects Indonesia and Timor Leste,” explained Tourism Ministry’s archipelago tourism marketing development deputy Esthy Reko Astuti.
Esthy said that the reason the Ministry is bringing Judika is because the people of Timor Leste are quite familiar with the singer’s singles such as “Bukan Dia Tapi Aku” (Not Him but Me), “Mama Papa Larang” (Mother, Father Don’t Allow) and “Akulah Yang Tersakiti,” (I’m the One Who Got Hurt).
“Other than Judika, there will be dangdut singer from Timor Leste named Maria Vitoria who is an alumnus of Dangdut Academy Asia, Atambua’s local artists and a few performances from Taruna Mandiri High School and GSNF. For more info, check out the Instagram account @festivalcrossborder,” she added.
Source : Jakartapost
A total of 60 people took part in Indonesia Adventure Festival (IAF) 2017 that was held in Sumba on Nov. 14 – 19. The Indonesia Adventure Festival was previously held in Lembata in 2014 and Alor in 2016.
With 'Explore Tanahumba' as the main theme, the participants consisting of bloggers, photographers and media crew were divided into three groups namely adventure, culture and photography teams. They traveled to four regencies in Sumba such as Southwest Sumba, Central Sumba, West Sumba and East Sumba.
On the first day of the trip, participants went to cultural houses in Southwest Sumba, Sumba Hospitality School and by the evening time they were relaxing at Menangah Beach waiting for the sunset. Following the activities, Southwest Sumba tourism department head, Christofel Horo, welcomed the participants in a ceremony held at night.
The three groups went to Wainyapu Village, the next day. The village has 60 Uma Kalada traditional houses and 1,058 megaliths. The adventure and photography teams then continued their journey to Bawana and reunited with the culture team in the evening at Weetabar Village.
There’s currently a construction of several Tarung village houses to accommodate the Podu ritual in the Weetabar Village.
The adventure team went to Lapopu waterfall, the tallest waterfall in NTT the next day. Meanwhile, culture and photography teams stayed at Tarung to see the traditional ritual of Tarung Marapu Village.
By the end of the day, participants camped out at Padang Savana Mamboro, Mamboro district.
The participants chased the sunrise view at Sunrise Beach on the following day. They also witnessed a horse-racing event before traveling to East Sumba via the north beach.
In the middle of the trip from central to the east, the adventure team made a stop at Tanggedu Waterfall that looks like the Grand Canyon, whilst the photography team went photo hunting at Puru Kambera, a savanna that is the home of wild horses and other wild animals.
Meanwhile, the culture team visited Wunga Traditional Village, the first and oldest village in East Sumba that was built by the ancestors of Sumba people who came from Malaka Tanabara.
The three teams reunited in the evening at Walakiri Beach around sunset time and continued their trip to Pau Umbara Village where they stayed overnight.
In this village, the culture team got to learn about tenun ikat. Meanwhile, the photography team got up early at 03:00 a.m. the next morning and then went to Watu Parunu Beach to capture the sunset view whilst the adventure team went to Waimarang Waterfall.
Following the activities, all participants went back to Pau Umbara to enjoy a fashion show before traveling back to Waingapu city and Wairinding Hill where they once again enjoyed the sunset view. This was the last stop of their journey, by the evening time there was a farewell dinner held where participants wore traditional Sumbanese costumes.
Source : Jakartapost
East Nusa Tenggara (NTT) tourism and creative economy department together with Mandiri Global Media has launched two new tourism websites: www.dispar.nttprov.go.id and www.newtourismterritory.com
The head of NTT tourism and creative economy department Marius Ardu Jelamu said that the new websites mark the beginning of digital-based promotion.
“It’s to simplify the tourism development in the future, we have a dream for all tourism-related developments to be done digitally,” Marius said.
The two websites provide different contents for readers, dispar.nttprov.go.id posts news, events and profiles of tourism departments whilst newtourismterritory.com posts tourist attractions in NTT, food, hotel rates, transportation fees and different modes of transportation used to travel to a tourist site.
In the future, the department is planning to hold trainings for other tourism departments in 22 regencies and cities, tourism industry players, The Indonesian Hotel and Restaurant Association (PHRI) and Association Of The Indonesian Tours & Travel Agencies (Asita). (jakartapost)
State-owned lender Bank Mandiri together with online travel service Traveloka have come up with a program called Explore the Beauty of Indonesia that aims to promote the tourism ministry’s 10 Priority Destinations and increase the number of tourist visits.
Both companies are offering the best price for flight plus hotel and attractions package for the 10 destinations that consist of Borobudur Temple, Thousand Islands, Lake Toba, Tanjung Kelayang Beach, Tanjung Lesung, Mandalika, Bromo Tengger Semeru, Labuan Bajo, Wakatobi and Morotai.
“This form of support will definitely bring a lot of benefits for the people and promote the economy through the tourism sector. With this program, customers of Bank Mandiri will get to explore the beauty of Indonesia at an affordable price and easy transaction process,” said tourism ministry's archipelago marketing development deputy, Esthy Reko Astuti.
“Lake Toba starts from Rp 1.4 million, Labuan Bajo starts from Rp 1.8 million, Wakatobi starts from Rp 3.4 million and Bromo starts from Rp 760,000. These prices are for two people and already included the discount, the trip itself is three days and two nights long each. This program runs from August 17 until 31 with the travel period is until November 31, 2017,” explained PT Bank Mandiri (Persero) TBK senior vice President credit cards group, Vira Widiyasari.
Apart from the special price, Mandiri credit card holders also receive another benefit of an additional discount of Rp 720,000 ($72) for a flight plus hotel booking and a total discount of Rp 200,000 for tourist attractions located in the 10 destinations.
There are also benefits of three and six-month installment and four 'Fiestapoin' in each transaction for Mandiri credit card holders.The promo is available at https://www.traveloka.com/promotion/indonesia or by doing a booking via Traveloka application.
By the end of July 2017, Mandiri's credit card transaction had an increase of 9.6 percent. Out of the total transaction, 17 percent of them were travel-related.
According to the Central Statistics Agency (BPS), the growth of domestic flight from 2011 to 2016 is at 56 percent, while the growth for hotel-booking from the same period is at 64 percent.
Moreover, 40 percent of international tourists enter Indonesia via Bali, 30 percent via Jakarta, 20 percent via Riau Islands and the rest 10 percent are in other areas. Bali itself was named as the third best destination in the world according to TripAdvisor. (jakartapost)
The government has decided to focus on the development of four destinations from the Tourism Ministry’s 10 New Balis list which include Lake Toba, Borobudur, Mandalika and Labuan Bajo.
The plan includes homestay and restaurant development. The Tourism Ministry will be in charge of design whilst the Public Works and Public (PUPR) Ministry will be in charge of the construction. Meanwhile, the development of souvenir shops will be handled by the Trade Ministry.
“It will be executed in 2018 in four locations. I’ve sent a letter to PUPR before the limited meeting [with President Joko Widodo] and have been instructed by the president to provide the [design] model,” said Tourism Minister Arief Yahya.
Arief said three destinations namely Lake Toba, Borobudur and Mandalika only need revitalization, while Labuan Bajo is considered as a newcomer and the President wanted for Mandalika in West Nusa Tenggara to have a Medium-Sized Business (UKM) Center.
“I’ll go there [Mandalika] tomorrow to oversee the UKM location. In all destinations, UKM should be the first [to be developed] in a region,” the minister added.
Source : Jakartapost
After a recent meeting between the Tourism Ministry and Indonesian celebrity entrepreneurs concerning co-branding partnership deal with Wonderful Indonesia tourism brand, actress Prilly Latuconsina who was one of the guests shared the event’s photos to her more than 19 million followers on Instagram (@prillylatuconsina96).
“It’s only recently that I became an entrepreneur and now I'm doing a collaboration with Wonderful Indonesia, I’m so happy. I’m proud to be an Indonesian; let’s promote Indonesia's tourism #PesonaIndonesia #WonderfulIndonesia,” she captioned one of her posts.
“Indonesia is a country of million destinations, thousands islands, different languages, cultures and beauties. Check out the top 10 destinations list published by @kemenpar, which one have you visited before? Don’t just travel overseas, explore your own country.
Check out http://www.indonesia.travel/ and Pesona e-magazine at www.kemenpar.go.id #PesonaIndonesia #WonderfulIndonesia,” she wrote in another Instagram post.
Prilly is currently running her food business called Really Cake in Balikpapan. The 21-year-old is planning to travel to Raja Ampat in the future, as she considers Raja Ampat the perfect place for millennials to travel with their friends. (jakartapost)
Caves have been explored throughout history. In prehistory they were used for shelter, burial, or as religious sites. Today researches study caves because they can reveal details of past climatic conditions. Cavers explore them for the enjoyment of the activity or for physical exercise. For the less adventurous, a number of the most beautiful underground caves have been converted into show caves, where artificial lighting, floors, and other aids allow the casual tourist to experience the cave with minimal inconvenience
Rangko in the region of East Nusa Tenggara is a town in Indonesia – some 911 mi (or 1,467 km) East of Jakarta, the country’s capital city. Little known fact: Flores’s new adventure is in its saltwater cave in Rangko. It’s hidden in the northwestern corner of the Rangko Bay, which is riddled with freshwater springs that flow through mazes of limestone passageways.
Few people ever witness the strange sights of these underwater chambers—fossils, sunlight beaming in from holes in the cave ceilings, and even ancient mastodon tusks—because the only way to see it all is by donning a mask and flippers. Cave diving is rife with potential dangers as its located in remote area. The good news is beyond good training, all it really necessitates is a little nerve.
Test the waters at Rangko Cave. There you can see water’s artwork in the limestone formations and feel the force of 30-plus million gallons of water per day pouring out of the inner cave entrance. A mineral deposit that hangs from the ceiling of a limestone cave is traversed by a smooth underwater salt lake.
Tourism Ministry recently held a gathering with celebrities-slash-entrepreneurs at Sapta Pesona Building in Jakarta on Nov. 14.
Among the attending guests were Indra Bekti, Shireen Sungkar, Teuku Wisnu, Prilly Latuconsina, Cathy Sharon, Fitri Carlina, Ussy Sulistyawati, Gracia Indri, Baim Wong, Irfan Hakim, , Dhini Aminarti, Dude Herlino, Denny Cagur, Prilly Latuconsina, Irwansyah, Dewi Sandra and Ria Ricis/Oky.
“Both Tourism Ministry and celebrity entrepreneurs have a lot in common; both are working in the creative industry. The Wonderful Indonesia [tourism] brand has invested a lot on branding and it’s now in the 47th position in the world, winning over Malaysia Truly Asia and Amazing Thailand,” told Tourism Minister Arief Yahya at the gathering.
“All of you can and are allowed to become Wonderful Indonesia endorsers, especially for the 2018 events that will feature 100 premiere events. The Tourism [Ministry] that has a world-class brand can also become the official partner for regional events,” he added.
Arief also explained to the guests about POS (Paid Media, Owned Media and Social Media) and endorsement as a part of it.
“Thank you for the collaboration in promoting Wonderful Indonesia and Pesona Indonesia on [your] products. Currently there are 62 brands involved and we are aiming for 100 brands by the end of 2017. [These products] are premium products that use local materials,” said Arief.
“These celebrities also have huge social media following such as Prilly who has more than 19 million followers,” he added.
Most of these famous names sell cakes that are available in various regions in Indonesia. Eventually it has become an ongoing trend of buying these cakes as the ideal souvenirs for those visiting those particular regions.
Singer Rossa owns Minang Mande Cake, Hengky Kurniawan has Banana Foster Cake and in Semarang Dewi Sandra sells Wingkorolls.
In Bogor there are Shireen Sungkar’s Rain Cake and Dhini Aminarti’s Cinnamon that she owns with her husband Dimas Seto. Soap opera actor Dude Herlino owns Scrummy brand in Padang, meanwhile Baim Wong owns Premio and Irfan Hakim together with Omesh have Bandung Kunafe.
Over in Surabaya, vlogger Ria Ricis and Oki Setiana Dewi have Patata, while in Cirebon there are Indra Bekti’s Sultana, Andika Pratama and Ussy Sulistiowati’s Cirebon Kelana.
Other names include Denny Cagur’s Pekanbaru Cassata, Fitri Carlina’s Savvanacake, Gracia Indri’s Lenso Manado, Irwansyah’s Lamonde and Raffi Ahmad and Gigi’s Gigieatcake.
Apart from the food business, there are other celebrities who tackle the fashion and beauty industries such as presenter Cathy Sharon with her Urban Lips and designer Ivan Gunawan with Mandjha Ivan Gunawan. (kes)
The Central Statistics Agency (BPS) data shows that until September this year, Indonesia has welcomed 10,458,299 foreign tourists, a 25.05 percent increase from last year’s achievement.
“For the September period, it’s up by 20.47 percent from the same month last year,” told Tourism Ministry's deputy minister for overseas promotion I Gde Pitana.
In comparison, tourism growth in ASEAN region is only 6.5 percent and the worldwide growth is at five percent.
Pitana added that he’s optimistic the ministry will achieve its target of attracting 15 million foreign tourists by the end of this year.
The recent activity of Mount Agung in Bali that went on for more than a month from Sept. 23 to Oct. 29 resulted in the declining of tourist visits to Bali.
On Oct. 29, the Indonesian authorities lowered the alert status from Level 4 to Level 3.
Tourism Minister Arief Yahya said Bali is now ready to welcome tourists.
The ministry is currently busy promoting to countries such as China, Singapore, Australia, Malaysia and Japan for the year-end holiday season that runs from November 2017 to January 2018.
One of their efforts is conducting a familiarization trip (famtrip) to Bali for nine media companies from China.
Up until September 2017, China was the biggest contributor for foreign tourists who came to Indonesia with 1,607,615 people, a 45.68 percent increase. Other countries such as Japan contributed 416,040 people (up 6.46 percent), Australia had 918,957 people (up 1.38 percent), Malaysia had 885,412 people (down 0.16 percent) and Singapore had 1,067,242 people (up 0.36 percent).
Source Jakarta Post


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The Leo Burnett advertising agency, which created the iconic macho Marlboro Man, said a new study it conducted found that half the men in most parts of the world don’t know what is expected of them in society and three-quarters of them think images of men in advertising are out of touch with reality.
Most ads have lumped men into one of two groups — the soft, caring type known as “metrosexuals,” who are comfortable with facial peels and pink shirts, or the stereotypical “retrosexuals,” who remain oafishly addicted to beer and sports.
“As the world is drifting toward a more feminine perspective, many of the social constructs men have taken for granted are undergoing significant shifts or being outright dismantled,” said Tom Bernardin, chairman and chief executive of Leo Burnett Worldwide.
“It’s a confusing time, not just for men, but for marketers as well as they try to target and depict men meaningfully,” he said this week during a presentation in the south of France where the ad industry is gathered for its annual conference.
At last year’s event, the firm told peers in the ad world how to reach out better to women in a well-received presentation entitled “Miss Understood.”
Leo Burnett’s survey of 2,000 men in 13 countries found that 60 percent see themselves as either power seekers who crave professional advancement or family men – termed by Burnett as patriarchs – who believe having children and being a father are the most important things.
The other 40 percent defined themselves more readily in the metrosexual versus retrosexual debate.
When asked which they would prefer, a higher standard of living with them staying home with the kids while the wife worked or a lower standard of living with them working and the wife staying home, 46 percent said they’d prefer to stay home.
Fifteen percent enjoy getting a manicure and 70 percent said they’d rather look good in a business suit than a swim suit.
“Men are far more complex than advertisers give them credit for,” said Linda Kovarik, global planning director for beauty care at Leo Burnett, a unit of French ad group Publicis.
The executives showed a few commercials, including ones for Bud Light beer, Levi’s jeans and Axe body spray, that appeal to the way men are thinking about themselves today. But they said far more needs to be done.
“The last thing we want is to look back in 10 years and find that we have unwittingly created the same cliches that female advertising is riddled with,” Bernardin said.


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A 2017 study conducted by Manhattan Borough President Gale Brewer counted 188 empty storefronts on Broadway in Manhattan. A new bill would create a citywide tracking system for commercial vacancies. Photo: Steven Strasser
Though Manhattan residents and elected officials have long bemoaned the prevalence of vacant storefronts lining the borough’s commercial corridors, the city does not collect official statistics on retail occupancy rates. This could change under a bill now being considered by the City Council.
The legislation, introduced by Upper West Side Council Member Helen Rosenthal, would require property owners to notify the city’s Department of Small Business Services when a storefront has been vacant for more than 90 days. The data collected by the agency, including the length of and reasons for each vacancy, would be made available in an online registry. Owners who fail to register would face weekly fines of $1,000.
A second bill sponsored by Rosenthal would require Department of Small Business Services to maintain a public database encompassing every storefront in the city that would disclose information on each space’s location, size, monthly rent, current use and occupancy status, among other information.
Supporters are hopeful that additional data will allow policymakers to better understand the various factors driving commercial vacancies and formulate solutions to address the issue.
“This database will identify vacancy trends throughout the city, spot areas where vacancies are rapidly increasing and identify specific property owners and managers who demonstrate a pattern of forcing out small business,” Manhattan Borough President Gale Brewer said at a March 18 hearing on the legislation held by the Council’s small business committee. “Additionally, it will be a resource for small business owners looking for new space. Everyone I have talked to about this issue agrees we need a database to track the problem and to develop effective responses.”Improving data collection
In the absence of a citywide database, current analysis of retail vacancy trends relies on broad data collected by the real estate industry and informal surveys conducted by elected officials and others. A 2017 study conducted by Rosenthal’s office, for example, found a commercial vacancy rate of 12 percent in her Upper West Side district. The same year, Brewer’s office canvassed the entire length of Broadway in Manhattan, finding 188 empty storefronts along the corridor’s 244 blocks.
But analyzing the scale and underlying causes of vacancy on a citywide level, experts say, requires uniformly collected data.
“The underlying causes of these issues are complex and vary from neighborhood to neighborhood, corridor to corridor, and property to property,” Gregg Bishop, commissioner of the Department of Small Business Services, said at the hearing. Bishop continued, “One of the things we’re very focused on is getting data that’s consistent and reliable so we understand what the vacancy issue is in the different commercial corridors.”
Bishop told Council Members the agency supports efforts to improve data collection on retail vacancies as the city develops responses to the issue. Among those efforts is Mayor Bill de Blasio’s current campaign calling on state legislators to enact a tax penalizing landlords who own storefronts that remain empty for long periods of time.
“We agree that more data is needed to better fully understand the scale of commercial vacancies and address them,” Bishop said at the hearing. “To that end, the administration will continue to actively work with you on a vacancy registry. Such a registry would be an important part of our effort to pass a vacancy tax in Albany.”
The Council also heard testimony on a number of other bills aimed at combatting high retail vacancy rates and commercial tenant displacement, which are commonly attributed to a confluence of factors including the rise of online shopping, speculative pricing by landlords and rising monthly rents, which increased 44 percent in Manhattan from 2006 to 2016.
One bill, sponsored by Council Member Mark Levine, would require the city to provide legal services to small business tenants facing eviction. Another, introduced by Rosenthal, would require the city to provide small businesses with training and technical support on marketing and expanding e-commerce operations.


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TRX Acquired By Founder In Bankruptcy Proceedings
August 29, 2022
TRX, which filed for bankruptcy in June to pursue a sale, announced that its founder and former CEO, Randy Hetrick, and partner, Jack Daly, have acquired the fitness brand.
Hetrick founded TRX in 2004 after inventing the Suspension Trainer as a SEAL team squadron commander and will now lead the company as chairman with Daly, who will serve as CEO. SGB


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What Does Steve Jobs Resignation Mean for the Future of Apple?
Steve Jobs announced late Wednesday that he would be stepping down from his position as chief executive of Apple (NASDAQ:AAPL), effective immediately, and would be replaced by his longtime number two, chief operating officer Tim Cook. Will Apple maintain its reign over technology? Or is this a window of opportunity for key competitors such as Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), Research in Motion (NASDAQ:RIMM), Nokia (NYSE:NOK) and Samsung?
As the Apple (NASDAQ:AAPL) co-founder steps down from one of the most valuable companies in the world, investors are sure to be worried about the future of the company, and that may be reflected in Apple’s share price, which began its descent Wednesday in after-hours trading and continued this morning in pre-market. But Jobs’ resignation should come as no real surprise, as he was diagnosed with pancreatic cancer many years ago and has been on leave since January.
Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.
Investors should be relieved to find that a succession plan is in place. The plan, which until now was kept mostly confidential, was thought by many not to exist, a matter of great concern to shareholders with knowledge of Jobs’ illness. But sure enough, on the last page of Apple’s Corporate Governance Guidelines, the company designates its compensation committee, a subset of the company’s board of directors, as the body responsible for succession planning.
Jobs’ successor will be COO Tim Cook, who was appointed Jobs’ number two back in 2005, and has since been responsible for running Apple (NASDAQ:AAPL) day to day, working in his position since Apple shares were trading at $54, only a seventh of their current price. Since Cook came on in 2005, Apple has become the one to beat, the trendsetter, creating technology around which the industry revolves. With the best-selling desktops, notebooks, mp3 players, tablets, and smartphones, Apple is unlikely to fall apart just because Jobs is no longer its chief executive.
Furthermore, given the company’s long-term vision, it is likely that Apple (NASDAQ:AAPL) already has the next five years mapped out with products already in development. In fact, Jobs’ exit might be seen as a sign that Apple soon has a new product to offer consumers that will offset the negative impact of his departure. Considering Jobs’ long-standing illness, and the fact that he has been on leave for most of the year, one wonders whether the announcement of his resignation was not strategically planned for the moment when it would have the least negative impact.
Though beginning his reign as Apple’s (NASDAQ:AAPL) new chief executive today, Cook has long been responsible for the company, credited with running its intricate teams of designers, engineers, and programmers, and acting as CEO during Jobs’ many medical leaves of absence. Apple board member Art Levinsons says, “The board has complete confidence that Tim is the right person to be our next CEO.”
But some worry that, without Jobs’ vision, the company will soon spoil. However, the Apple (NASDAQ:AAPL) is known for mapping out its products several years in advance, and Apple always has many new technologies at different stages of production, allowing the company to present various new products every year in order to keep relevant. Plus, while Jobs may be largely responsible for Apple’s success, Apple’s engineers, designers, and programmers must also be credited with the company’s success. “While this marks the end of an era for Apple, I think it’s important to remember that there’s more to Apple than any one person, even Steve Jobs,” said Michael Gartenberg, an analyst at Gartner.
Don’t Miss: Sprint Challenges Verizon and AT&T with Apple iPhone.
Still, Jobs was responsible for bringing Apple (NASDAQ:AAPL) back from the brink of collapse in 1997 when he was asked to come back to the company twelve years after he left over a brutal battle for control with other executives. He is no doubt responsible for many of the visions that, once they came to fruition, revolutionized the industry while creating the new standard. But staying on as chairman of the board, Jobs is sure to continue to be an important player in Apple’s future success.


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These great value tipples offer tremendous drinking.
Ray Jordan says the quality of Swan Valley wines has never been better. Here are some of his top drops.
Ray Jordan shares three of his favourite Swan Valley verdelhos.
If Ray Jordan says this Swan Valley winery has some of the best sparkling in the state, it has got to be worth a visit.
The Houghton winery is getting a fresh name after the sale of the historic property was finalised last week.
The first Tuesday in November means one thing — sparkling wine — and these are the Aussie drops that are just as good as the French stuff.
Can you guess what variety of wine Ray Jordan shares a longstanding love with and thinks every Australian should get behind?
Wine doesn’t have to cost the earth to “achieve wondrous things with a few years age”, according to wine editor Ray Jordan.
If you’re looking for a wine that isn’t your go-to Australian or New Zealand favourite, wine editor Ray Jordan recommends these out-of-the-box drops.
Ray Jordan goes in search of semillon and sauvignon blanc blends that get that all-important oak balance right.
Turkey Flat, in the heart of the Barossa Valley, is one of Australia’s oldest vineyards. And there’s plenty out of the region worth a try
WA winemakers have proven yet again they are leaders in the wine industry across Australia, taking out 20 of the 26 trophies in the 2019 Perth Royal Wine Show.
© The West Australian and Seven West Media (WA). All rights


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Canon is rumored to announce the EOS 7D Mark II, a DSLR camera that will serve as a replacement for the 7D, on September 5, roughly 10 days before the start of Photokina 2014.
This has been quite a day for the fans of camera news and rumors as plenty of details related to the Canon 7D Mark II have surfaced on the web.
First of all, Canon has dropped the price of the 7D. The DSLR is available for $999 at Amazon and it seems like stock levels are pretty low. This means that the camera is indeed approaching the end of its life, so a replacement is inbound.
Speaking of which, the 7D Mark II has allegedly been spotted at the 2014 World Cup in Brazil. All this information is now coupled with the fact that trusted sources are reporting that the new device will be unveiled officially on September 5.
Canon 7D replacement announcement date to take place on September 5
The same source, who said that the non-disclosure agreement between Canon and the testers ends in early September, has now revealed the exact date when this is set to happen.
The NDA becomes obsolete on September 5, which falls on a Friday. This means that the Canon 7D replacement announcement date might have been scheduled to take place on September 5.
Every piece of the puzzle fits, as the Japanese company enjoys unveiling its products on Tuesdays or Fridays, and September 5 falls on a Friday.
The introduction of the EOS 7D Mark II will occur about 10 days before the Photokina 2014 opens its doors to visitors. The camera will be on-display at world’s largest digital imaging event along with many other products.
Canon 7D Mark II will sport a similar design to the one of the original EOS-1 SLR camera
Canon will put a big megapixel APS-C-sized image sensor in the successor of the 7D. The DSLR is also believed to sport a new version of Dual Pixel CMOS AF technology, which means that it will autofocus quickly when recording videos.
In addition, the design of the 7D Mark II is inspired by the EOS-1 SLR, which featured a flat top plate without a mode dial. A built-in optical viewfinder with 100% coverage will be added into the shooter and some sources are claiming that both WiFi and GPS will be built-in.
Either way, it is becoming quite obvious that the Canon 7D replacement is coming in early September. There is plenty of time until then, so stay tuned to find out more details about this DSLR camera!


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Brad Paisley, Wife Kimberly’s Free Grocery Store Gets $1.5 Million Grant
Brad Paisley and his wife, Kimberly Williams-Paisley, just got a huge boost in their quest to help lower-income families in Tennessee. The couple's free grocery store, called the Store, has received a $1.5 million grant in conjunction with Belmont University.
According to Belmont's website, the Tennessee Department of Human Services has given the Belmont Ministry Center and the Store, which is an adjacent nonprofit organization, a $1.5 million 2Gen Family Wellbeing Program grant. The purpose of the grant is to provide "local, low-income families support through food provision, nutritional and pharmacy education, health screenings, legal aid clinics, mental health counseling and music therapy."
Paisley and his wife first revealed plans for the Store in October of 2018. Williams-Paisley tells Nashville's Tennessean newspaper that the idea was inspired by a holiday season the couple spent in California with their two sons. When she felt they were acting spoiled, she decided to have the entire family volunteer at a store that provides groceries to people in need, which touched off the idea that a similar store could serve a need in Nashville.
The Store is set to provide fresh and non-perishable groceries to people in need for the period of a year to help them get back on their feet, based on referrals from nonprofits and government agencies.
15 Country Stars Who Have Gone Above and Beyond for Charity:
A groundbreaking for the Store took place in April, and it is expected to open early in 2020.
"Through the work of our Ministry Center and our partnership with Brad and Kimberly on the Store, Belmont is deeply committed to providing services to underserved children and families in our community, and this 2Gen grant from the Tennessee Department of Human Services will significantly enhance the scope and delivery of the services we offer," Belmont President Dr. Bob Fisher says. "We are grateful for their belief in our work, and I’m excited to witness how this grant expands the impact our students, faculty and staff can have on our neighbors.”
The Belmont Ministry Center and the Store plan to work in concert to provide access to healthy food options and a wide range of other services designed to help lift people out of poverty and help them make healthier choices in every aspect of their lives. The services are vitally needed in Tennessee, which, according to statistics, ranks 42nd among the 50 states in overall health, and ranks among the worst states in precursors for preventable illness and death, including diabetes, cardiovascular disease and cancer.
See Inside Brad Paisley's Historic California Home


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Apex Digital will be introducing a wireless digital home jukebox, its largest screen portable DVD player and offer its first home game console during CES at the Convention Center’s Central Hall, booth 13639.
Apex’s wireless digital home jukebox is a combination DVD player/wireless networked multimedia device especially for home users — destined to be the centerpiece of the new “digital living room,” said president Steve Brothers.
The AD-8000N marries the cutting-edge technology of wireless home networking with DVD video and CD audio playback capabilities. The device allows users to play on their television virtually any audio, video or image file stored on their computer’s hard drive, via an 802.11b wireless network, the company said.
The AD-8000N will be available to consumers later in the first quarter of this year. Suggested retail price is $199. It will come bundled with a wireless card. With a standard Ethernet adapter (not included) the AD-8000N can be added to a wired computer network to access media files in the same way.
“The AD-8000N allows consumers to use the DVD player as the central point for their audio/video system and to connect by wireless network to their home computer,” said Brothers.
Apex will introduce a new portable DVD player with the largest available viewing area of any of the company’s portables. The PD-710 offers consumers a full 7.1-inches of viewable screen space (diagonal measure).
The PD-710 will be available to consumers later in the first quarter of this year. Suggested retail price is $299. The PD-710 also incorporates all of the multi-format DVD and CD playback capabilities consumers have come to love about Apex Digital products, including CD-R/RW and DVD+/-R/RW, among other formats.
And Apex will release a home game console designed to play computer games manufactured to be played on PC’s, said to be the first to perform that function.
The new ApeXtreme (pronounced Apex Extreme) moves PC versions of electronic games out of the computer room and into the TV room, giving gamers the ability to play their favorite “PC-only” games on a console machine, with a bigger game image — on their standard TV. The ApeXtreme will be available to consumers later in the first quarter of this year. Suggested retail price is $399.
“Rather than be limited to just a single proprietary game console technology, we have embraced the much larger universe of games developed for play on PCs,” said Brothers.


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A new Temple Run 2 map expansion update was teased last week at MWC called “Lost Jungle” and by the looks of it, we will be getting a new playable character. This new character has a very strong resemblance with Fawad Khan, a popular actor in Pakistan and India. Imangi Studios has not confirmed the name of the new character yet, but the artwork posted by the creators definitely show that it is Fawad Khan.
This new update to Temple Run 2 was teased at the launch of LG G6 last week at the MWC. LG has partnered up with several game publishers to update their games to support the 18:9 aspect ratio display screen on the new LG G6 phone.
Temple Run games have been downloaded over 1 billion times and is very popular in the South Asian countries. This is not the first time Imangi Studios have had celebrities as playable characters in Temple Run. Over the years, we have seen them adding Bruce Lee, Usain Bolt and many NFL players.
As with the above image, Imangi Studios have been teasing the new update with the following:
What new explorers will emerge to escape the Lost Jungle? #LostJungle #ComingSoon
There is not much to tell right now, but we will be posting more updates as the game gets released. We are expecting the game to be launched around the same time as when LG G6 goes on sale.


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The two key pillars of British luxury’s business model – tourism and international trade have faced some monumental challenges over the past two years. Between COVID-19 which brought international travel to a virtual standstill, the withdrawal of the VAT Retail Export Scheme this time last year and the disruption of Brexit, the landscape within which luxury brands operate became much harder.
Promoting Britain Abroad & The Tourism Recovery Plan
In June 2021, the Government announced its Tourism Recovery Plan and subsequently, Walpole submitted a response to the Digital, Culture, Media and Sport (DCMS) Select Committee’s consultation into ‘Promoting Britain Abroad’ which examines how Britain’s cultural heritage can be used to promote the UK as an international holiday destination and boost the damaged tourist industry.
UK luxury has long known its value to the British tourism and travel industries through the international appeal of its brands, hotels, restaurants and cultural experiences which are highly influential in attracting visitors to our shores. The rise of Shopping Tourism (particularly for luxury goods) is well documented and the value of sales of high-end goods to non-UK resident customers was around £4.5 billion in 2017
The Tourism Recovery Plan aims to drive economic recovery back to 2019 levels by 2023, two years ahead of economist’s predictions. However, currently, the Tourism Plan makes no mention of the value of retail in attracting domestic and international tourists and the significant wider benefits of thriving high-end retail sector to the travel and tourism industries.
Walpole’s conjecture is that if the allure of high-end British retail and high-end British brand experiences was recognised, and if three simple stimuli were included (improved visa access for high value visitors, the introduction of a possibly short term tax-free shopping scheme to replace VAT RES whilst the UK is in post pandemic recovery, and the relaxation of Sunday trading for London’s designated international retail areas), we would be able to hit this target for international visitors by ensuring that there was a level playing field versus Continental Europe. This would allow the UK’s natural and cultural advantages to shine and therefore allow us to maximise wallet share of the international visitors who can contribute most to the economic recovery.
Overview of Policy Recommendations
Since the Government abolished the VAT RES (Tax-Free Shopping) and Airside tax-free shopping scheme from January 1st, 2021, the UK is now the only European country not to offer tax-free shopping to non-EU visitors. This severely impacts our appeal to international visitors and hinders our potential recovery from the pandemic. The removal of the VAT RES has already had a huge impact on the UK’s appeal to international visitors and has bought with it considerable challenges to our industry’s recovery from the pandemic.
A leading fashion brand and UK manufacturer that provided input into Walpole’s submission, reported that pre-pandemic 50% of their sales in the UK were through the VAT RES scheme. They are already seeing their international customers diverting their trips and spend to European countries that continue to offer tax free shopping. Fewer Americans and Middle Eastern customers are travelling to the UK to shop, choosing instead to go to France or Italy, and Chinese clients they have spoken to plan shopping on the continent instead when travel resumes. For this business, the recovery in sales to tourists in Europe is already 20% ahead of the UK which they directly attribute to the loss of tax-free shopping in the UK.
Government policies currently serve to make London a less attractive global destination for international visitors than, for example, Paris or Milan whereas British luxury brands are actively investing in creating and enhancing tourist attractions and experiences.
Prior to the pandemic, the British luxury sector was growing at a rate of nearly 10% per annum, double the growth of GDP. With the right support, particularly and crucially in attracting high spending visitors back to the UK, it will help the UK bounce back from the pandemic.
The UK visitor visa regime has fallen behind that of Schengen both in its offer and application. The Government should:
• Ensure that the visitor visa product and application process match that of Schengen, particularly the Electronic Visa Waiver scheme for visitors from the GCC states.
• Extending the Electronic Visa Waiver Scheme to other high spending markets e.g., China.
• Introduce a standard 10-year visitor visa, as countries like the USA have done, for Chinese visitors.
• Introduce a visa for the families of international students studying in the UK that lasts as long as the student visa, to encourage parents to visit their children multiple times during their studies.
• Expand the joint Schengen/UK visa application process in China – currently a pilot with Belgium - to Schengen countries with larger numbers of visitors, such as France and Italy.
Restrictions on opening hours on Sundays for stores of over 250 m sq. put London’s two International Centres at a disadvantage since stores in most of our international competitors face few or no restrictions.
With the two International Centres now geographically defined in the London Plan, the Government should add them to the existing list of exemptions in the 1994 Sunday Trading Act (which will not have a wider impact on Sunday trading regulations throughout the rest of England).
We have seen a plethora of British luxury brands make significant investments in their visitor experiences. From World of Wedgwood, Johnstons of Elgin’s Cashmere Visitor Centre and of course the whisky sector exemplifies how to expand whisky tourism from Macallan Distillery Experience in Speyside to Diageo’s £150 million investment in whisky tourism projects to promote Johnnie Walker and its supporting distilleries, brands understand the value of interactive experiences for visitor to the bottom line.
Now we need to ensure that the UK doesn’t create a self-inflicted disadvantage to its European peers at this time. There is opportunity for the Government is to establish an alternative tax incentive scheme (across airside and high street) which not only champions the UK as an attractive destination for visitors but also which commits to truly supporting British businesses here at home.
If you would like further information, please contact Carly von Speyr.
As we all now look to the path not only of recovery, but beyond that to growth, it has never been more important to engage with our own Government at all levels to educate and inform them about a sector which is worth £48billion to the UK economy and employs 160,000 people the length and breadth of the country in long-term, sustainable jobs. Walpole has been working with Hawthorn Advisors on a programme of briefings with MPs, Ministers, Special Advisors and civil servants to communicate British luxury’s economic, manufacturing and cultural impact on topics such as jobs & skills, tourism, SMEs, hospitality and exports.
To date, Walpole’s Chief Executive, Helen Brocklebank, has met with:
• John Stevenson MP for Carlisle, Steve Double MP for St Austell and Newquay
• Lucy Noakes, Special Advisor, Department for Digital, Culture, Media and Sport
• Nigel Huddleston, Minister for Sport, Tourism, Heritage and Civil Society
• Paul Scully (Minister for Small Business, Consumers and Labour Markets)
Further meetings are scheduled in the coming weeks with:
• Sir John Hayes MP for South Holland and The Deepings in Lincolnshire
• Jack Brereton, MP for the Stoke-on-Trent South
• Minster Mike Freer, Minister for Exports and MP for Finchley and Golders Green
Our thanks to members who have provided information and case studies to inform those meetings – your contribution is crucial not only in bringing the statistics to life and enabling Walpole to create an authoritative evidence-based, but to connecting the dots between business and policy.


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Integral Spine Solutions Inc.
Minimally invasive spinal fusion
This article was originally published in Start Up
A truly minimally invasive procedure for lumbar spinal fusion surgery may finally be on the horizon. The Backstay system from Integral Spine Solutions Inc. employs a proprietary, expandable access device through which a stationary, small implant is advanced and placed in the disc space between two vertebrae, enabling fusion. The device also has incorporated fixation components that reduce or eliminate posterior instrumentation, such as rods and screws, for stabilization.
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