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The Chicago Mercantile Exchange, Dean Foods, large food retailers and the farmer’s share of retail prices were the center of much of the discussion on dairy competitiveness and consolidation at a USDA/Department of Justice (DOJ) hearing this morning here in Madison.
The hearing, the third of five being held on consolidation in American agriculture, drew hundreds of producers and dairy industry professionals.
USDA Secretary Tom Vilsack noted that dairy farms numbered 110,000 a decade ago but are approaching 60,000 today. At the same time, the top 10 food retailers now control 82% of food retail sales compared to 65% a year ago.
“With these hearings, we need to determine whether the playing field is as fair and as level as it needs to be,” he says. Vilsack says he also concerned about the impact the loss of farms have on rural communities. “Ninety percent of our highest poverty counties are in rural America.”
Christine Varney, Assistant Attorney General for Antitrust for the U.S. Department of Justice (DOJ), says her agency is “here today to learn about the forces buffeting this important economic sector, and what the government might be able to do to help.”
DOJ, she says, “is keeping a watchful eye on the industry.” DOJ recently filed suit against Dean Foods for its purchase of two fluid milk processing plants in Wisconsin from Foremost Farms USA, noting it now has greater than a 50% market share in Wisconsin and Upper Michigan. It has also filed suit in more than 100 school milk bid rigging schemes, which she says leads to higher prices for school children.
There was recognition, too, that consolidation in the retail food industry is driving dairy cooperatives to grow larger as well. Rod Nilsestuen, Wisconsin Secretary of Agriculture, notes that Wal•Mart has gross revenues of $408 billion in 2008, Krogers had gross revenues of $77 billion and Kraft had gross sales of $40 billion. In contrast, Land O’Lakes Cooperative had gross sales of $10.4 billion and $3.2 billion in dairy sales. “Big box retailers can exert incredible pressure—they want to buy from a small number of large suppliers,” he says.
The farmer’s share of the retail dairy dollar was also repeatedly brought up. Ed King, a registered Holstein breeder with 900 cows from upstate New York, noted that farmer share has dropped from 38% in 2007 to 25% in 2009. “Processors and retailers are flexing their muscle, and there’s been a feeding frenzy for lower prices on the farm,” he says. “We need competitive provisions in contracts because farmers have no control in this process.”
Other speakers noted that though less than 1% of cheese is traded on the Chicago Mercantile Exchange (CME), it is used as the basis for setting minimum prices under the Federal Milk Market Orders. There is general agreement that the CME is thinly traded, and many allege this makes the market prone to manipulation.
Cooperative leaders were fearful that the hearing were being held as a pretense to gut the Capper-Volstead Act, which gives cooperatives their ability to collectively bargain on the behalf of farmers. Sec. Vilsack said that was not the case. But Dairy Farmers of America had some 70 members in attendance, with many testifying on behalf of the DFA during the open mike session.
The hearing will continue through the rest of today. Look for continuing coverage of the hearing this weekend at DairyToday.com.


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CEOs of four of the biggest tech companies in the world — Apple, Amazon, Facebook, and Google — will testify before the US Congress later this month, as part of its anti investigation of the Big Tech. This was first reported by New York Times columnist Kara Swisher following her conversation with Rep-David Cicilline. Later, a spokesperson for the House Judiciary Committee also confirmed it to the New York Times. Apple’s Tim Cook, Facebook’s Mark Zuckerberg, Alphabet/Google’s Sundar Pichai, and Amazon’s Jeff Bezos have all reportedly agreed to testify.
The House Judiciary Committee had opened broad investigations into potential antitrust practices of these companies last year, in June. Google is being investigated for its dominance in the ad business, while for Facebook the focus has been on its acquisitions for maintaining dominance over social media, the New York Times report said. Apple meanwhile came under the scanner for potentially unfair App Store practices, while Amazon has been questioned about its treatment of third-party sellers. The executives are also likely to face questions about other issues, like Amazon’s treatment of its warehouse workers or the spread of hate speech on Facebook and YouTube, New York Times added.
While announcing its probe last year, the Committee had said that as part of the investigation, it will document competition problems in digital markets, examine whether dominant firms are engaging in anti-competitive conduct, and asses if existing antitrust laws, competition policies, and current enforcement levels are adequate to address these issues. It has already held conversations with smaller companies who complained about the Big Tech’s anti-competitive practices.
Congressional testimonies from Alphabet CEO Sundar Pichai and Facebook head Mark Zuckerberg have been politically charged sessions with a gigantic media spotlight. This also marks increased scrutiny of big tech companies both in the US and EU. Following Congress’ investigation, US’ Justice Department had also initiated a broad antitrust investigation against “market leading” online platforms. As the EU and US’ antitrust glare on Big Tech heats up, testimonies from the companies’ heads are something that could be key in shaping public perception of the need to regulate the industry. In India, Amazon obtained an interim stay on a Competition Commission of India investigation from proceeding; Flipkart has also filed for legal intervention to prevent a similar investigation into its practices from happening.

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The Chase Sapphire Reserve® Card was introduced in August 2016, and has quickly become one of the most popular premium credit cards on the market. Chase reached their 12 month sales goal on the card within two weeks, which shows how unbelievably popular the card has been.
I think the key to success for this $550 annual fee card is that they managed to reach a new demographic that hadn’t previously been interested in premium cards. While the card has a “premium” annual fee, it’s not costing members that much, given the $300 annual travel credit, triple points on dining and travel, Priority Pass membership, and more.
Several other premium credit cards offer Priority Pass memberships, including The Platinum Card® from American Express and The Business Platinum Card® from American Express (Enrollment required). However, it only seems to be in the past couple of years that there have been serious complaints about crowding in many Priority Pass lounges.
This was even the subject of a recent Wall Street Journal story, which I personally think isn’t very accurate, and rewrites history using irrelevant anecdotes:
- The story talks about how “gourmet meals once on offer are now finger foods;” that’s certainly not the case, and most definitely not reflective of any impact by Priority Pass
- If anything, more Priority Pass memberships means that airlines and independent lounge companies are more incentivized to invest in new lounges
- We’ve seen Priority Pass add restaurants to their network, which has been great for members
- Fewer premium credit cards offer airline lounge access than before (in the past both the Amex Platinum Card and Citi Prestige Card offered Admirals Club access, though that’s not the case anymore), so it’s great that we have new options
While it’s true that some Priority Pass lounges are fuller than before, I think collectively we’re better off as consumers due to that.
Anyway, View from the Wing points to a City of Phoenix Aviation Department filing regarding the lounge situation at Phoenix Airport, which has some interesting statistics. Specifically, the filing is about The Club at PHX, which is the Priority Pass lounge at the airport (at least until 3:30PM — at that point it closes to Priority Pass members and becomes the British Airways lounge).
Specifically, the document shows data about the club between mid-2016 and the end of 2017, including how many visitors the lounge had, and also their gross sales:
Let’s take a closer look at this:
There’s a huge spike in visitors
To me this makes it pretty clear that the Chase Sapphire Reserve® Card is indeed leading to a great increase in terms of the number of visitors to Priority Pass lounges, at least at major US airports. While there’s a mild upward trend in August and September, presumably most people who got the Sapphire Reserve didn’t immediately get a Priority Pass membership, so it’s no surprise that there’s a lag in terms of visitor increases. As you can see, starting in October we see a huge increase in visitor numbers.
Between July 2016 and December 2017, the number of visitors to this lounge more than doubled. While we can’t solely attribute that to the Sapphire Reserve, I suspect that’s a major factor.
In reality I think the number of Priority Pass visitors may have significantly more than doubled. Keep in mind that the above visitor numbers includes the British Airways passengers who are visiting, as that’s the official British Airways lounge at the airport. Let’s assume that an average of 50 British Airways passengers per day use the lounge (I’m making up that number, but I would assume it’s on the low side). If that were the case, and if you subtract the 1,500 visitors per month from British Airways, the increase in Priority Pass visitors is from 2,358 to 6,339, which means Priority Pass visits almost tripled. I suspect the number of British Airways guests per day may be even higher than that, meaning the increase may be even more significant.
The lounge is getting an average of $25 per visitor
This is about in line with what I expected. I’m sure a lot of us are curious about the Priority Pass business model, and just how much is being paid with each lounge visitor. When you crunch the above numbers, it would appear that The Club at PHX is earning an average of about $25 of revenue per visit, and I’d assume that’s roughly equal regardless of whether visitors are from British Airways or Priority Pass.
This also further explains how Priority Pass restaurants make sense. I’ve received so many comments from people saying “it’s unsustainable for Priority Pass to pay for meals at restaurants.” The reality is that they’re probably paying restaurants the same as they pay lounges for a visit. We just get a lot more value out of it.
Priority Pass lounges make bank!
The Club at PHX is a pretty no frills lounge that’s just under 3,000 square feet, and it’s about $2 million in sales per year. I imagine it’s even higher now. Wow. Sure, there are costs — they’re paying rent, they have to pay staff, and chips and raw veggies aren’t free. But still, I imagine those are some really good margins.
None of this information comes as a much surprise, though I find it interesting nonetheless. Yes, the number of Priority Pass visitors has increased greatly the past couple of years, presumably largely due to the Chase Sapphire Reserve® Card. It looks like lounges are getting paid an average of about $25 per visit for these.
However, unlike some others, I don’t think the increase in Priority Pass members has “ruined” lounges, but rather it has given Priority Pass, airlines, and independent lounge operators an incentive to add more lounge space, and even to add new concepts to the network, like restaurants. The occasional crowded Priority Pass lounge is a small price to pay for the democratization of airport lounges.
How do the above statistics compare to what you were expecting?
(Tip of the hat to View from the Wing)


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Stereo sound and Bluetooth are both supported by the Pure Evoke D6, a British-designed classic kitchen DAB radio.
In depthStreaming music to multiple devices is about to get a lot easier, thanks to Caskeid. Here's how it works.
In DepthWireless multi-room audio is radically increasing in popularity, but with it comes a problem – how to get the audio in sync over a Wi-Fi network.
Pure has announced its new Highway in-car digital radio, hoping to make some serious in-roads in the market with Halfords.


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Olympics, Copa America Drive Tremendous Travel Demand in 2016
Photo via Flickr
The driving force behind travel is as diverse as the people who board airplanes throughout the year. However, marquee events that pepper the calendar certainly have a dramatic effect on the industry.
Travel marketing platform Sojern Wednesday released its Q1 Global Travel Insights report, which compiled and measured travel tendencies over the first few months of the year and extrapolated how that might affect the industry in the near future.
As you will see in the above link, there is a heavy emphasis on those entertainment options we all would love to cross off our bucket lists.
While countless travelers book holidays to relieve stress, enjoy exotic cuisines or simply see a new city, many others are drawn by the bright lights, booming sound and raucous atmosphere of some seriously sensational events.
The report highlights events like the 2016 Summer Olympics in Rio, Lollapalooza taking place in Chicago and Copa America’s historic visit to the United States.
Obviously, popular events are helpful for tourism. But the numbers are astounding. For example, Sojern found that the Super Bowl helped draw 1.2 million people to San Francisco International while, on February 6, hotel occupancy rested at a remarkable 90.7 percent.
The summer is filled with similar events that will boast a boon for the area.
As Sojern states, soccer is a huge draw for fans across the world. Copa America means big business for the likes of Seattle, San Francisco and Orlando – where the games will be played.
The report actually records a 54 percent increase in “travel intent” daily once the draws were announced.
Stephen Taylor, Sojern, SVP Enterprise Solutions, offered some thoughts on the findings: “Overall the outlook for summer travel in 2016 is strong. Both Copa America and the games in Rio have some interesting implications for travel this summer. Copa America will take place for the first time ever in the U.S in its 100-year history, which is noteworthy. Based on Sojern travel data, Boston is home to the most enthusiastic soccer fans showing the most interest in intent to travel.”
Of course, the biggest event of the year is that little sporting celebration they like to hold every four years.
As far as entertainment is concerned, there is hardly a bigger draw for travel or for television audiences than the Olympics.
This time around it’s Rio de Janeiro’s turn to play host. Obviously, there are political and health concerns to note, but those don’t seem to have a tremendous hold on travel intent.
Taylor continues on the upcoming Summer Games: “With the Olympics in Brazil approaching, the U.S. shows the biggest increase in travel intent to Rio during the Olympics among countries worldwide. Sojern data also shows that 34 percent of U.S. travelers are looking to spend 8 to 11 days at the Olympics, indicating that Americans are going big and staying for most of the length of the 16 day event before heading home.”
Sojern also measured travel intent during the Olympic period across various countries. Japan’s contingent has scoured the Internet with interest to the tune of a 716 percent uptick. The U.S. isn’t far behind with a 577 percent increase.
There remains a very real concern revolving around the Zika virus as well as the general state of Brazil’s metropolis.
However, something like the Olympics only comes around once every four years. For many, it marks a once-in-a-lifetime journey. Americans aren’t exactly quick to pass it up.
What’s more remarkable is the effect you tourists are having on the locals.
Taylor offers, “Surprisingly, Brazilian Rio residents are looking to leave during the events to the top destinations of Lisbon, New York City, and Orlando.”
Sometimes we forget that travel isn’t necessarily sparked with the need to get away. Many times, it’s precisely to reach a destination for a specific event.
As noted, 32 million people will see at least one music festival in this country every year. And 2016’s complement will again feature The Governors Ball, Lollapalooza and Outside Lands.
Each will entice music lovers from all parts of the globe. Whether it be concerts or sporting events, Sojern’s report proves we just can’t resist a good time.
Sojern also offers this graphic, which serves a snapshot to those 2016 watershed moments such as Euro Cup and the Summer Olympics.
Image courtesy Sojern
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Apple Music for Artists has come out of beta and is now available for all acts on the platform.
While Spotify has already won over the industry to its data insights, Apple Music will be hoping it can be as effective for artists as the streaming rival. Apple Music for Artists has incorporated feedback from artists and labels as it emerges from beta.
Music Week has had a trial of the app on both desktop and iOS, and one of the notable features is the Shazam insights. As part of Apple’s music empire, it’s a potentially valuable function, as Shazam is often a first route to artist discovery thanks to shows such as Love Island.
Artists can see their Shazam data, including the top Shazamed cities and countries, in their Apple Music for Artists profile. The app is also unique in providing song and album sales from iTunes.
Location data is also key to Apple’s analytics tool, which reveals streams in individual cities. Like Spotify, Apple is confident that such streaming location data is crucial for acts in plotting touring activity.
Apple told Music Week its location-based analytics are in line with all data privacy rules.
As you’d expect, Apple Music For Artists can track playlist appearances (and even positions) on a global basis. New milestones such as one million plays will be highlighted with alerts for artists, while sudden spikes in streams anywhere in the world will enable management to focus their efforts on the right locations.
Artists also have the ability to directly upload a new image in line with releases and campaign activity.
Apple told Music Week the mobile app is a “powerful on-the-go, in-your-pocket view” of an artist’s streaming activity. Based on the demo, it provides an intuitive tool for artists.
But while Apple Music is available on Android, there’s no sign of the analytics platform rolling out beyond iOS just yet.


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New console concepts like the Ouya, the SHIELD, and the Steam box are wholly digital. And, as more and more consumers embrace them in place of traditional consoles, the market for physical games declines.
Apple Inc. (NASDAQ:AAPL) could deal a blow to GameStop Corp. (NYSE:GME) if it decides to release its long-rumored TV anytime soon. With Apple’s move to support third party controllers, any Apple TV that appears would likely be a force in the video game industry — and it probably wouldn’t rely on disc-based games.
GameStop Corp. (NYSE:GME)’s management has pledged to return 100% of free cash flow to its shareholders. The company has a solid 3% dividend yield, and for the next few years should continue to post solid earnings.
But the video game industry is clearly in the midst of a transition to wholly digital. It seems to be a question of when — not if — physical disc-based games will disappear entirely.
When that happens, it’s hard to see a place for GameStop’s business.
The article GameStop is Living on Borrowed Time originally appeared on Fool.com and is written by Salvatore “Sam” Mattera.
Salvatore Mattera is long GameStop puts dated January 2015. The Motley Fool owns shares of GameStop and Microsoft. Salvatore “Sam” is a member of The Motley Fool Blog Network — entries represent the personal opinion of the blogger and are not formally edited.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


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This article is more than 1 year old
Think you can solve the UK's electric vehicle charging point puzzle? The Ordnance Survey wants to hear about it
Two-day hackathon to answer the ultimate question of life, the universe, and where to put them
The UK's venerable Ordnance Survey is to fling open its electronic doors in an effort to tackle infrastructure challenges faced by the UK's rollout of electric vehicles (EVs).
Blighty does not have the best of records when it comes to access to charging points for EVs and, with a 2030 ban on the sale of new petrol and diesel cars looming, the question is where to put the plug-in posts.
Enter the Ordnance Survey (OS) and its detailed database of Brit geography. And, as seems to be de rigueur nowadays, a "hackathon" to come up with ways of using the normally premium data to come up with solutions.
The virtual hackathon is set to run from 6 to 7 October and participants have been set challenges including how EV infrastructure planning for local government in remote communities might be "levelled up", identifying the charge points for EV fleets and where to develop them using geospatial data to nudge the internal combustion engine owner into a change of behaviour.
A more nebulous "Open innovation" challenge is also on the cards, asking participants to come up with other "sustainable concepts."
- Senators urge US trade watchdog to look into whether Tesla may just be over-egging its Autopilot, FSD pudding
- China stops networked vehicle data going offshore under new infosec rules
- Foxconn buys chip factory off Macronix in bid to break into the electric vehicle market
- The UK is running on empty when it comes to electric vehicle charging points
While the latter challenge might make some think of UK property shows where somebody puts grass on the roof and forgets to order the windows (yes, we're looking at you Grand Designs), using the data to identify where charge points are needed makes quite a bit of sense. The OS is providing participants access to all its premium data as well as its team of geographic information system specialists.
API Product Manager Charley Glynn said: "If Britain is to meet its carbon net zero targets in the next nine years, then difficult puzzles have to be solved in the EV and transportation market.
"For instance, how are we going to be able to manage the needs of potential EV owners who need to charge their car at home but live on the top floor of a block of flats, or planning car charging points in a terraced street where parking spaces are already in short supply?"
Registration for the event closes on 23 September, and participants will have to sign up to the OS Data Hub. Teams can have up to five members, and the OS is looking for research, working software, analysis or a proof of concept. ®


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Woman charged with forging stolen checks
An unemployed Monticello woman has been charged with forging signatures on stolen checks and using them to buy merchandise worth $477.92, police said yesterday.
Michelle McNeal, 40, was arrested yesterday following an investigation into a fraud complaint, said Sgt. Donald Prince of the Sullivan County Sheriff's department.
The complainant had informed police last week that someone was using checks stolen from her to buy merchandise. Cops traced the checks, which had been used to buy goods from Wal-Mart and ShopRite in Thompson, back to McNeal.
McNeal was charged with six counts each of criminal possession of a forged instrument in the second degree and forgery in the second degree, both felonies. She was arraigned at the Town of Thompson Court and sent to Sullivan County Jail in lieu of $1,500 bail. Hearing is set for Sept. 25.


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Now it's official.
A spokesperson for Trader Joe's said Monday that the specialty grocer's newest Dallas location in Inwood Village at Lovers Lane and Inwood Road will indeed open next year.
Construction is already underway to remodel the space at the east end of the shopping center.
Trader Joe's first Dallas store opens this week on Lower Greenville Avenue.
And another store will soon be under construction in the Preston Hollow Village development at U.S. Highway 74 and Walnut Hill Lane.


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If recent patents are any indication, Amazon will be producing even more virtual reality (VR) tech in the future. Amazon’s newest potential plans are for a full-length VR mirror.
Amazon filed a patent this week for a full-length mirror that will mix reality with virtual places and items. Their patent, called “Blended Reality Systems and Methods,” was published within the past week. The mirror would use “mirrors, lights, projectors, displays and cameras” to display clothing and settings, says CNN Money.
This mirror looks like another step further into the world of fashion for Amazon. Amazon already has the Echo Look, which isn’t a mirror but is a smart device focused on fashion. With Echo Look, people can have the device take photos and videos of them, then let the content be uploaded, saved, or shared. People can use this content to get advice from a service called Style Check, which uses algorithms as well as actual suggestions from real people in the world of fashion.
Amazon is also already finding ways to let shoppers visualize what they’re buying before making a purchase. As I talked about in a previous article, Amazon’s app on some iPhones uses augmented reality (AR) to let people place certain products in whatever room the phone’s camera is pointing at. It lets shoppers see whether something fits the style or might be the right size.
Amazon’s possible VR mirror would likely have some concepts similar to the Echo Look and their AR shopping feature. Their mirror would let people visualize their fashion choices when shopping. Using the mirror, users would see themselves, live and in motion (not in a photo), appearing to wear virtual clothing they are considering purchasing. This, of course, would make it much easier to decide whether certain clothing items would look good together or be a good choice for that specific person. Even better, there would be an option to incorporate a virtual background. People could choose from locations, meaning it would make it possible to really see how an outfit would fit in certain specific settings.
Again, this is just a patent, which means it’s possible it won’t actually be released. Also, even if it is, it’s hard to tell how far into the future its release would be. But it is a good indication of what Amazon is interested in creating for its shoppers. It’s also a fun and interesting potential development in the world of VR tech. I’ll be keeping an eye out to see what direction Amazon goes with this tech.


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The pop star rubbishes reports that her Lucy in Disguise business is closing down
Despite the rumours that it’s shutting up shop just ten months after its star-studded opening, Lily Allen’s vintage clothing store Lucy in Disguise is simply switching location.
The original shop, nestled in the heart of London’s Covent Garden, that Lily and half-sister Sarah Owen launched together has closed its doors after a nine-month temporary stint and will now reside on Lexington Street in Soho from the start of August.
Rumours have been swirling that the shop has in fact closed down amidst financial problems. However, Lily has denied the reports and released a statement to put the rumours to bed.
She said: ‘Our Covent Garden space was a nine month pop-up store that helped us successfully launch the Lucy in Disguise concept and this current move was always part of our plan.’
Lily added: ‘Everyone can now expect the same incredible vintage pieces for sale or hire and our very own ready-to-wear!’
The Lucy in Disguise flagship store will open its doors on 1st August. You can find it at 48 Lexington Street, London, W1F 0LR.


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By JOSH FRIEDMAN
Paso Robles police are searching for a man who robbed a liquor store at gunpoint Saturday evening.
A suspect wearing blue overalls and a hoodie entered Savage Spirits & Deli at 2050 Spring Street and pointed a gun at a clerk. The robber then escaped with cash and was last seen fleeing on 21st Street.
No harm was done to the clerk, Savage Spirits & Deli stated in a Facebook post. The liquor store says it has surveillance footage of the robbery, which police have reviewed.
“Things at the store will be changing,” Savage Spirits & Deli said in the Facebook post. “We have to change to keep our employees safe.”
Anyone who has information about the robbery or the suspect is asked to contact the Paso Robles Police Department.


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Culture Secretary, Jeremy Hunt, through the backing of the UK government has announced plans of pumping approximately £362 million into bringing superfast broadband to rural areas in England and Scotland. The government is optimistic about the plans and said that the above said funding will result in 90 percent of rural areas in Britain getting access to superfast broadband by 2015.
Intel has revived its Intel Upgrade Service campaign to upgrade three of its processors below present standards through software upgrades. The will help customers running processors with relatively outdated technology i.e. the Core i3-2312M, Core i3-2102, and Pentium G622 to upgrade their processors to 2393M, 2153 and Pentium G693 respectively by paying certain fee.
Microsoft Corporation on Monday announced discontinuation of its not so famous eBook reader application. The software giant has decided to end support for all the variants of the Reader app for eBooks. The company will not sell anymore content through the Reader app starting November 8, while the support will be withdrawn subsequently.
Information Commissioner's Office (ICO) of the UK has revealed that Google has made radical improvements to its privacy policies since the Street View debacle but there is still room for improvement. In an internal audit of Google’s privacy policies and procedures, the ICO said that the company had made a lot of improvement in better protecting the information that it handles.
Game publishers for social networking sites are playing their part in intensifying the battle between Google+ and Facebook. Google+, even though in beta, has already started attracting a handful of reputed game publishers like Zynga and EA. When it comes to integrating online gaming with social media platforms, Facebook, needless to say, did an amazingly good job and Google having recently announced support for games in Google+ is also following the same path.


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The European Union (EU), in collaboration with the government, is working on a programme aimed at diversifying the economy following the end of the Private Sector Development Programme (PDSP) in June this year.
According to the EU’s projects officer, Tebogo Matlhare they are currently exploring different sectors of the economy with an endeavour to come up with a new programme next year.
“We are working on building a new support programme for Botswana aimed at diversifying the economy as well as contributing towards inclusive growth. We are hoping the programme would be ready by next year, whereby implementation partnership might be entered into,” he said.
According to Matlhare, they have been exploring different industries including beef, tourism, technology, vocational training and horticulture.
In addition, he said they have conducted a horticultural value chain analysis study in collaboration with Business Botswana (BB) to find ways of making the industry viable.
“We have been looking at seven different industries, trying to explore them and horticulture was one of them and for now there are no specifics that I can share except that,” he said.
This programme follows the end of the PSDP initiative, which was borne out of an agreement between the EU and the government, which was signed in 2012. The government signed this on behalf of the Ministry of Investment, Trade and Industry as well as the Ministry of Finance and Economic Development.
At inception, the EU signed a Contribution Agreement for €2.3 million with the Centre for the Development of Enterprises (CDE) for the implementation of a PSDP in which CDE partnered with BB in the implementation of the programme.
Following the closure of the CDE offices in Botswana, Business Botswana took over the implementation of the PSDP where EU signed a grant agreement with Business Botswana of €1.1 million to enable them to implement the remaining activities and responsibilities of PSDP.
PSDP was expected to capacitate SMMEs and Community Based Organisations (CBO) by strengthening their value chains, improving access to finance.
The overall objective of the programme was to contribute to economic growth, employment creation and diversification of Botswana economy.
Under the PSDP, the EU has interacted with different sectors across the economy to find ways of developing them. The programme has assisted the SMMEs in improving their competitiveness, assistance with access to finance as well as markets.


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Dr Abiy Ahmed Ali, the Prime Minister of Ethiopia has announced that Ghana has received its coronavirus prevention materials that were donated by Alibaba founder, Jack Ma.
However, the Ministry of Information and the Ministry of Health have not confirmed the arrival of the materials yet.
About two weeks ago, Jack Ma promised to donate coronavirus prevention materials such as face masks test kits and protective clothes to all African countries to help in fighting against disease.
Dr Abiy Ahmed in a tweet stated that Ghana, Gabon, Congo and the Democratic Republic of Congo have received their share of the donation.
African countries that have already received their share of the donation include; Egypt, Nigeria, South Africa, Rwanda, Eritrea, Djibouti, Sudan, Tanzania, Burundi, Zimbabwe, Kenya, Somalia, South Sudan, Zambia and Togo.
“The 2nd shipment of the supplies from Jack Ma and Alibaba Group containing 540k medical-grade masks and 20k protective clothes is on its way to Ethiopia. Dispatch to Africa will continue,” he informed.
Ghana has so far recorded 53 cases and 2 deaths.
Click on the comment box below and leave us your thoughts. Thank you


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- Comcast, Charter and Cox form addressable ad alliance
- Part of efforts to counter threat of online platforms
- Comcast exec: Without addressability we’re going to fall short
Comcast is to partner with fellow US cable TV providers Charter Communications and Cox Media to develop an addressable ad offering.
Branded ‘On Addressability’, the programme will develop standards for addressable advertising, which delivers targeted ads to viewers.
Comcast, Charter and Cox will share their experiences of addressable advertising including ways in which they will be able to ensure customer data is used in ways that comply with privacy standards, reported Reuters.
Comcast Cable president of advertising Marcien Jenckes said: “TV is often looked at as the lowest common denominator medium (in advertising), and unless addressability is achieved at scale, we’re going to fall short.”
The move is part of broader efforts to encourage advertisers to spend with broadcasters rather than online platforms such as Facebook and Google, which are able to serve highly personalised ads to users.
In April, UK broadcaster ITV confirmed its plans to launch an addressable ad platform when it announced it had signed a deal with ad tech company Amobee for the programmatic buying and selling of ad inventory on its ITV Hub OTT platform.
- Read more: M&A: Broadcasters search for scale
Broadcasters’ efforts to counter the threat from Facebook and Google have also included forming alliances to sell ad packages across multiple countries
The European Broadcaster Exchange (EBX), which includes Germany’s ProSiebenSat.1, TF1 of France, Mediaset covering both Italy and Spain and Channel 4 from the UK, wants to encourage major international advertisers not to overlook traditional media operators in favour of the large online platforms.


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|Contact company||Save||Send to a friend|
|Climax Technology Co., Ltd.|
|Dual Element Sensor||Yes|
|Physical Specifications||Dimensions mm: 68 x 148 x 50|
|Environmental Specifications||Operating Temp oC: -20 ~ +50|
EIR-23 from Climax is an outdoor PIR motion detector that represents a breakthrough design from the traditional sense to a brand new vision of its definition. It is tailored to fit in the harsh environment of outdoor and features four levels of pet immune sensitivity.
|Pyronix launches new XDL12TT-WE wireless external volumetric detector|
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British stand-up comedian brings his show to the UAE.
Michael McIntyre is coming to Dubai
Michael McIntyre, the British stand-up comedian, is bringing his show to the UAE in June.
Done Events and Off The Kerb Productions announced today that McIntyre will be performing in Dubai on June 8 at Sheikh Rashid Hall, Dubai International Convention & Exhibition Centre.
“It is with great pleasure we now present Michael McIntyre to his many Middle East fans and by putting on his June show in the biggest indoor venue available shows how big comedy has become in our market, but moreover that we are welcoming one of the most popular comedians around," said Thomas Ovesen, Done Events COO.
McIntyre won the prestigious Perrier Award, at the Edinburgh Festival, in 2003 and has gone on to collect numerous awards for his shows, with three best selling DVDs. He currently holds the top spot as the biggest selling UK debut stand-up DVD, and Hello Wembley in 2009 became the fastest selling UK stand-up DVD of all time.
The show will open with a performance by Paul Tonkinson and general ticket sales will start Monday March 25 at 9am.
For more information and to register for pre-sale information visit www.doneevents.com.
Follow us @LifeNationalUAE


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It was a big week of deadlines for the UK border as Border Target Operating Model (BTOM) rules came into force. Traders will now also need to adapt to life without easy-use waiver 999L when making customs declarations.
The Institute of Export & International Trade (IOE&IT) kicked of its first sector-specific Special Interest Group (SIG) on Tuesday (30 January) as the export controls group convened for the fourth time. Members heard from a government official on the upcoming changes to the export licensing system.
The big picture: Several EU leaders have called for a suspension of trade talks with South America’s Mercosur bloc as part of suggested measures to appease protesting farmers. In Belgium, Germany and France farmers have blockaded key roads and ports in protest at new environmental targets and increased overseas competition.
Good week/bad week: A good week for Holyrood Distillery and those who enjoy the harder stuff, as Food Manufacture reports a £2m package has been agreed in order to fund exports of its gin, rum and whiskey brand.
The industry is unlikely to be short of funding to support overseas growth, with spirit sales Scotland’s number one export.
NBC News reports that animal welfare groups have raised concerns for the welfare of 16,000 cattle stranded off the coast of Australia after the cargo ship transporting them was forced to divert from the Red Sea. The cattle will either be returned to Australia and penned in a quarantine facility or re-exported to Israel around the coast of Africa.
Live animal exports are a contentious topic, with some questioning the ethics of subjecting cattle to long journeys for slaughter on arrival. New Zealand have outlawed the practice. The UK’s Animal Welfare (Livestock Exports) Bill has made it through the House of Commons and is currently on its second reading in the Lords.
How’s stat? 12 to 18 days, the time British businesses estimate are being added to goods deliveries as a result of global shipping disruption, according to S&P Global. This comes as the supplier delivery times index – a component making up 15% of the S&P Global Purchasing Manager’s Index (PMI) score – fell below 50 in January for both UK and EU manufacturers.
The week in customs: A Customs Declaration Systems (CDS) glitch caused alarm yesterday (1 February) as the knock-on impact for the Goods Vehicle Movement System (GVSM) led to many trucks being diverted to Inland Border Facilities (IBF) have customs papers checked manually.
A failure with the GBP rate conversion prevented the generation of a Goods Movement Reference, required to allow goods to pass the border.
The issue has since been resolved. HMRC has informed traders whose goods crossed the UK border between midnight and noon yesterday without the need to divert to an IBF that they will need to submit a replacement ‘arrived’ non-inventory linked declaration as soon as possible.
Quote of the week: “This is an ambitious plan for UK trade and should be applauded. In the long-term it will help reduce costs and friction for businesses, should make the UK’s borders the most modern and effective in the world, and promote and encourage free international trade.”
IOE&IT director general Marco Forgione speaking as BTOM rules come into effect.
Major milestones: The government is celebrating four years since the UK formally left the EU with a look back at its “Brexit successes”.
What else we covered this week: Elsewhere this week, Richard Cree covered an IOE&IT trip to Ghana to launch the Africa Advisory Board.
Will Barns-Graham presented a fun look at how new BTOM rules will affect the contents of supermarket shelves.
Benjamin Roche provided insight into the deal between the UK and Northern Ireland’s Democratic Unionist Party (DUP) party, which is set to facilitate the return of power sharing at Stormont.
Phil Adnett continued to update on the situation in the Red Sea as additional attacks claimed by Houthi rebels were followed by further US strikes.
True facts: A novel cultural export, 2 February is Groundhog Day, which sees participants predict how long winter will last with the aid of a furry friend. Observing a groundhog emerge from its burrow, if it spots its own shadow and retreats wintery weather will remain for another six weeks, if it leaves the burrow having not been put off by his shadow an early Spring is due. A European tradition more commonly carried out in US – I’d be tempted to stick with the daily forecast.


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Pokemon Go is still a massive game despite a decline in initial popularity and the recent mess that was Pokemon Go Fest. Today, the developers confirmed a new update for the pocket-monster catching mobile game that brings a huge quality of life change. Much like the recommendation in our “10 Ways Pokemon Go Could Be Way Better” article, Pokemon Go will now allow players to see how many people are preparing for a raid battle before using a raid pass.
This news means that people will be able to decide whether or not to participate in a raid based on how many people are currently preparing to battle. No longer will there be guess work in raiding. Not only that, but the new update will also allow players who use Pokemon Go Plus accessories to spin photo discs at gyms. Previously, Plus accessories only spun regular stops. The update will also improve the Pokemon Collection screen “by allowing Trainers to search through their Pokémon’s moves using the @ character.”
As far as this new raid feature goes, it isn’t exactly what we had in mind here at MMOexaminer, but it’s still a step in the right direction. I would still personally prefer a “check-in” system where no players had to use a Raid Pass but could still check in to signal their interest in participating in a raid. However, this new update will at least keep some players from wasting their passes.
The game is said to currently be “in the process”of updating so players will be seeing these changes relatively soon. If you can’t wait and need more Pokemon Go content, be sure to check out our lastest article. In the meantime, are you excited for the new Pokemon Go update? Do you even play anymore? Let us know down below!


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B-Flute has long been the number one choice for retail-ready packaging (RRP) because of its excellent diecutting capabilities and strength, but the need for lightweighting has led to corrugated manufacturers developing innovative alternatives.
Smurfit Kappa UK's contribution to the market - S-Flute sits between its B and E-Flute. S-flute is designed to mimic the performance characteristics of B-Flute, but is lighter, stronger and more durable. Highly sustainable, S-Flute is manufactured from FSC certified fibers, is fully recyclable and designed to reduce the impact of logistics on the environment.
Smurfit Kappa Sheetfeeding sales and marketing director Mark Richards says the main driver for the development from the company's perspective was the need to reduce supply chain overheads. "The drive from for S-Flute came from the merchant sector because they have to store corrugated in their warehouses. Being able to fit more products onto a vehicle is an important logistical factor."
The demand for high impact retail ready packaging (RRP) to help to build brand recognition, is also another reason for the growth of B-flute alternatives. With the newer grades the flute tips are closer together which allows for a better print surface.
The thinner, the better
It took two years' of development work and extensive trials with customers before DS Smith Packaging bought its R-Flute to market. DS Smith Packaging is pitching its new flute as an ideal RRP material because of supply chain efficiency and good carbon footprint credentials.
The R-Flute has a caliper, or thickness that is 20% thinner than the B-Flute that is currently the standard for RRP. This thinner alternative allows more board to be delivered on a pallet and has a better printing surface because of the close fluting.
The sheetfeeding arm of the Logson Group, Board24 launched its M-Flute as "a modern alternative to standard B-Flute board" aimed at customers that are seeking to cut supply chain costs, make better use of warehouse space and increase efficiency long-term.
The environmental credentials are impressive. According to the company, using M-Flute instead of B-Flute board will yield up to a 36% saving on pallet space and with an estimated 30% more sheet board fitting onto a full load it provides significant savings on transport costs.
Rigid Containers, part of the VPK Group is also offering an alternative to B-flute, which according to sales and marketing director, Julian Freeman was made possible following investment in new single facer equipment and special corrugating rolls at its Desborough, UK site. The company's Performance Grade sits between B-flute and E-flute and allows crisper cuts for perforations. Freeman adds: "Due to the lighter weight of the board itself, we can help reduce supply chain costs considerably, further reducing carbon footprint.
There is life in B-Flute yet
So what does this mean for the existing B-Flute? Has it still got a strong future or are days numbered in place of lighter alternatives? According to Smurfit Kappa's Mark Richards, although its early days there could be a future in offering the new B-Flute alternatives instead of B-Flute, but for now while demand is there it will continue to supply. "S-Flute is still in its infancy, but we have had a good response. It would be a big move to make as we are customer driven and our customers are sheet plants, so ultimately it is what their end users want."
However, it's a case of watch this space, as Richards concludes: "If the push from the retailers was then demand for B-Flute could eventually be outstripped by reduced weight alternatives. The next 3-5 years will be interesting to see if there is that drive."


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American and French officials want to know why Apple has intentionally slowed down older smartphone batteries.
Story so far: In December, following uproar on Reddit and analysis by Geekbench, Apple admitted that it throttles iPhone performance to overcome problems caused by aging or otherwise janky batteries. It also offered customers battery replacements for $29 rather than the usual $79.
Questions remain: The Wall Street Journal notes that governments don’t appear to be convinced by the company’s explanation. French officials conducting an investigation into the throttling have called it “programmed obsolescence.” The chair of the U.S. Senate Commerce Committee sent a letter to Apple asking questions about the implications for consumers.
Expensive mistake: Eroding consumer trust could hurt Apple. Barclay’s has estimated that battery upgraders shunning new handsets could put a 16-million-unit dent in iPhone sales this year—equating to as much as $10 billion in lost revenue.


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- More than half of Americans (58%) have cut back on entertainment spending due to rising costs.
- Gen Z is most likely to spend on entertainment versus any other generation, with some spending more than $300 a month on entertainment (19%).
- Gen Z and millennials are willing to take on debt to afford entertainment activities, 35% and 33% respectively.
It’s been a banner year for entertainment with tours from some of the world’s biggest artists, including Taylor Swift and Beyonce, drawing millions of fans to their shows – but at what cost? Live shows come at a time when entertainment prices are on the rise and consumers are grappling with all-time high credit card debt, sustained inflation and the resumption of federal student loan payments after a more than three-year hiatus.
According to a study conducted by Qualtrics on behalf of Intuit Credit Karma, nearly half of Americans (46%) are spending less frequently on entertainment than they were before the pandemic. Of those, more than half (58%) say they’ve had to cut back on their entertainment spending due to the rising cost of activities. However, that’s not the case for 43% of Gen Z consumers who say their entertainment spend frequency has increased since before the pandemic. This could have something to do with Gen Z’s affinity for FOMO-driven spending, often influenced by social media. In fact, a third of Gen Z admit to feeling pressure to spend money they don’t have on live events or experiences due to social media.
Gen Z entertainment spend is growing, no matter the event
Above all other generations, Gen Z spends the most often on entertainment, which hasn’t changed much from pre-pandemic days. Prior to the pandemic, 93% of Gen Z spent money on entertainment on a monthly basis with nearly one-in-five (17%) saying they’d typically spend above $300 per month on the category. Today, the same holds true with 90% of Gen Z spending money on entertainment each month and 19% spending more than $300 each month on entertainment related purchases.
Across all entertainment categories, Gen Z’s monthly entertainment spend has increased since before the pandemic — more than any other generation. Here’s a breakdown of events where consumer spend has gone up since before the pandemic:
|My monthly spend has gone up since before the pandemic|
|Theater / Broadway||28%||21%||11%||8%|
|Carnivals / state fairs||30%||24%||13%||9%|
Gen Z is the outlier when it comes to increased entertainment spend
Nearly half of Americans (46%) say they spend less frequently on entertainment now compared to before the pandemic, largely due to cost. Of those, more than half (58%) say they are spending less often on entertainment because of the rising cost of other things like groceries, bills and rent. Other reasons consumers are spending less on entertainment include: not being able to keep up with the rising cost of entertainment events (37%), having found more affordable ways to spend their time (31%), no longer being interested in seeking out entertainment events (19%), and not having enough time for entertainment events because of work, child care/family obligations, or other commitments (15%).
Instead, consumers are looking elsewhere to fulfill their entertainment needs, such as streaming videos/TV (56%), spending time with friends and family (53%), watching traditional cable TV (47%), spending time outdoors (42%) and playing video games (32%).
Consumers turn to credit and savings to fund entertainment events
More than one-in-five consumers (21%) say they’re willing to take on debt to afford entertainment activities. Gen Z and millennials are the most likely to say they’re willing to take on debt (35% v. 33%) compared to Gen X and Boomers+ (16% v. 6%).
More than half of Americans (57%) say they have made some kind of sacrifice in order to afford tickets to a live entertainment event. Here’s a breakdown of lengths consumers have gone to to afford tickets to a live event:
|What have you done to afford tickets to a live entertainment event?|
|Borrow money from my savings||15%||30%||21%||9%||6%|
|Take on credit card debt||20%||21%||28%||19%||14%|
|Sacrifice food or necessities||9%||19%||14%||5%||3%|
|Cut back on dining out||27%||35%||33%||25%||18%|
|Sell clothes or personal belongings||11%||20%||18%||7%||2%|
|Take on additional work||15%||24%||24%||13%||5%|
|Borrow money from family or friends||9%||22%||13%||5%||1%|
“Over these last few years, so many aspects of everyday life have become more expensive, and attending events, whether it be a concert or sporting event, is certainly not immune to rising costs,” said Courtney Alev, consumer financial advocate at Intuit Credit Karma. “While we find that many young adults in particular aren’t willing to sacrifice attending events and engagements that they find joy in, some are willing to make financial and personal sacrifices to be able to afford their ticket in. And, there’s no shame in that. As someone who recently attended a Taylor Swift concert, the experience was well worth the cost for me personally. At the same time, consumers should be mindful of their spending so they don’t put themselves in a situation where they are dipping into their emergency savings or racking up high-interest credit card debt they can’t climb out of. Activities like concerts, movies and sporting events will always be around, so best to put feelings of FOMO aside if you feel like attending a certain event could put you over the edge financially.”
This survey was conducted online within the United States by Qualtrics on behalf of Intuit Credit Karma between September 1, 2023 and September 4, 2023 among 1,006 adults ages 18 and older.


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Facebook money? We are all familiar with Bitcoin, a digital currency that has been making headlines since 2009. Now Facebook and a couple of other large companies want to launch their own version of Bitcoin. They claim it will be safe, reliable and more stable than available cryptocurrencies. Let’s get to understand this new digital money that will probably be used by Facebook’s 2.4 billion users, yourself included.
What is Libra?
Libra is a digital currency like bitcoin that will launch in 2020. You will be able to use Libra to shop online, send money to friends and family and pay for business ads on Facebook. Libra will be run as a separate organisation from Facebook, where close to 100 of the largest organisations in the world will be members and each gets a vote. So far the members on board are Visa, Uber, Andreessen Horowitz, Vodaphone and Paypal.
How does it work?
Once it is launched you will need to get a digital wallet on your phone or computer to keep your money. Libra will also be integrated into Whatsapp and Messenger so that you can send money the same way you send messages. All of this will be protected by encryption so that you can keep your identity safe to avoid being tracked online. You will be able to exchange your pulas, rands and euros for libra through online wallets, local merchants and by getting it from other libra users.
Can I trust Facebook with my money?
Over the last 5 years, alone Facebook has had massive issues with privacy invasions and leaks on its platform. The Cambridge Analytica breach which saw 84 million users information harvested and misused for political gain. More recently leaked emails have shown that Mark Zuckerberg may have been aware of some of these leaks earlier than he admitted publicly. What is different about the Libra Association is that Facebook will be 1/100 voters on the way Libra is run. They have ensured that the Libra network will have fail-safes such as backing the libra currency with real investment assets. Libra also promises to refund any lost digital coins in case your phone dies or gets stolen.
What does this mean for the future?
I have followed the crypto world since 2013, and I have come to learn that the biggest issue that cryptocurrencies try to fix is too much government involvement in our money systems across the world. This means it will be a lot harder for governments to make decisions that affect your money like we have seen situations of hyperinflation in Zimbabwe and more recently Venezuela.
Libra also aims to make it easier to send money across the world without exchange fees and bank charges. This will definitely help reduce the 7% cost of moving money across the world. Especially for the millions of Africans sending over $54 billion back to the continent every year. Companies like western union, money gram and many other remittances business will definitely be affected.
Mobile money operators like My Zaka, Orange money and Poso Money will definitely be affected by this move. They were at the forefront of the mobile money revolution in Botswana. After the launch of Libra who would want to use their expensive offerings. The introduction of Libra will also lead to a stifled innovation market which the African continent as a whole is still struggling to take part in.
In the longer term, we might see an emergence of global power structures that almost supersede existing governments. This will create a huge power shift given that most of the technology companies taking part in such initiatives are mostly against taxes and control from governments.
It remains to be seen what the world will look like if ever corporate currencies like Libra become ubiquitous. Imagine the Botswana Pula completely surpassed by these new age currencies.
Leave your comments and questions so we can discuss the new Facebook currency, Libra.


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May 14, 1991 |
Apple Computer's new software operating system for the Macintosh computer, introduced with great fanfare at a conference here Monday, was greeted with enthusiasm by analysts and software developers who said Microsoft and the rest of the International Business Machines-compatible personal computer world would now be playing catch-up. The new software, dubbed System 7, has been in the works for three years and is being released a year later than originally promised.
May 29, 1992 |
Hoping to play midwife at the birth of what is touted as a $3.5-trillion "mega-industry," Apple Computer today will preview its first "personal digital assistant," a hand-held, pen-operated computer that functions like an intelligent note pad. Code-named Newton, the videocassette-sized device will transform a handwritten message into neat block letters and carry out simple instructions.
June 27, 1989 |
In the past eight years, former IBM and Tandon executive Dan H. Wilkie has become one of the industry's best-known makers of computers for the desk. Now he's making a computer for the lap. Last week Wilkie, along with some of the Silicon Valley's biggest investors, joined the highly competitive laptop computer market when they introduced a portable computer small enough to fit in a briefcase, yet with the power and memory of a desktop machine. A Westlake Village resident, Wilkie, 46, will be chief executive of the new company, Dynabook Technologies Corp.
December 21, 1994 |
While computer vendors and industry analysts on Tuesday generally hailed Intel Corp.'s decision to replace defective Pentium chips "no questions asked," it is not clear whether the chip giant has avoided long-term damage to its position as the near-monopoly supplier of personal computer microprocessors. Many observers tend to dismiss the possibility that Intel's market position has been hurt.
September 23, 1992 |
Intel Chief Executive Andrew S. Grove calls it a "malaise." Industry pundit Stewart Alsop refers to it as an "unsettled feeling." Whatever the terminology, a gathering of personal computer industry executives meeting here this week gave a clear sense that all is not well in the PC kingdom. That's a bit of a paradox. To be sure, the PC business has been hurt by the economic downturn, a brutal price war and the failure of some new products to catch on quickly.
December 5, 1993
The Business section today introduces a new feature, the Times Board of Advisers, which replaces the Times Board of Economists. Each Sunday, this space will contain an essay by one of six noted outside contributors, in rotation with analytical reports by members of The Times' staff. Here are biographical sketches of the new board members: Michael J. Boskin, chairman of the Council of Economic Advisers under President George Bush, will write about the economy. Boskin is Tully M.
October 8, 1990 |
The impact of an economic slump on the electronics industry will be very uneven, analysts say, with some sectors and companies continuing to prosper while others suffer severely. Vulnerable companies include the mostly American firms that sell minicomputers, large machines that are being squeezed between powerful desktop systems on the low end and high-performance mainframes and supercomputers on the high end.
September 19, 1990 |
Two years after launching the first Next Computer model amid a frenzy of hype--only to see it fail in the marketplace--Steven P. Jobs returned to Symphony Hall here Tuesday with a new series of products and the future of his company hanging in the balance.
January 13, 1988 |
AST Research officials have been a bit touchy about the criticism heaped on the Irvine company a year ago when it plunged into the crowded IBM-compatible personal computer market. As one Wall Street analyst pronounced at the time: "It's a little late." Today, after selling 75,000 personal computers in a single year, AST thinks it may have the last laugh. "Our objective is to be a recognized, major player in the PC market," said AST President Safi Qureshey.


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Posted: Monday, September 7, 2020. 1:56 pm CST.
By BBN Staff: The Belize Bank announced today that it would be temporarily closing its Orange Walk branch this week in compliance with directives given by the Ministry of Health.
The Bank said that it will be closed as of Tuesday, September 8, and would reopen on Monday, September 14.
The Bank also encouraged customers to utilize online banking, mobile banking applications and the 24-hour ATM services for the duration of the closure.
“As an alternative payment method for goods and services, customers can use their debit and credit cards locally,” the Belize Bank said.
Customers are encouraged to check the bank’s social media platforms or its website at www.belizebank.com for updates.
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The domestic currency, which quoted at 43.75 a dollar in early morning trade on Wednesday, had hit a more than a 17-month low of Rs 44.10 against the greenback during intra-day on Tuesday in the inter-bank foreign exchange market.
"The trend is certainly good for exporters who at the present level are in a competitive position," President of the Federation of Indian Export Organisations (FIEO) Ganesh K Gupta said.
He agreed it was a win-win situation for exporters. "If the current exchange rate continues, we will certainly grow by 35 per cent and the total exports would exceed the target of 200 billion dollars."
However, Gems and Jewellery Export Promotion Council (GJEPC) Chairman Sanjay Kothari said he would prefer a stable rupee-dollar rate. "We would rather have the rupee steady at 42-43 as it would give us a clear picture when we make our forward contracts," he said.
With reversal of trend in exchange rate, India's exports have grown by 22.3 per cent in the first quarter of this fiscal at 42.84 billion dollars.
The country saw exports growing by 23 per cent to 155.5 billion dollars in 2007-08 despite the rupee appreciating by over 13 per cent during the fiscal. The trend started changing before beginning of the new fiscal.
S P Agarwal of the Indian Institute of Foreign Trade said the rupee fall would lead to costlier imports, forcing the domestic industry to increase indigenous technology and content for value-added exports.


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Bicester business director prosecuted for selling illegal e-cigarette to a child
The director of a convenience store in Bicester has been ordered to pay over £2,500 for selling a disposable e-cigarette to a child, following an investigation carried out by Oxfordshire County Council’s trading standards service.
Mr Nevilkumar Mody, 35, a director of Haridisharn Ltd, trading as Bicester Local and Post Office in Sheep Street, Bicester, pleaded guilty and was convicted of a single offence at Oxford Magistrates Court on Monday 25 September 2023.
He was fined £400 and made to pay £160 in victim surcharge. Full costs of £2,037 were awarded to Oxfordshire County Council, which brought the prosecution.
The business sold the peach ice flavour disposable e-cigarette, sometimes known as a puff bar or vape pen, to a 15 year old test purchaser in January 2023, despite the legal age limit for the sale of e-cigarettes being 18 and over.
As well as being a director of the company and being responsible for training the shop’s staff on legal compliance with age restricted products, Mr Mody actually made the sale, himself and did not ask the test purchaser anything about their age or ask for any identification which would have shown their age.
The shop was one of several visited as part of a test purchasing operation based on information from complaints by local residents, a local councillor and the local policing team.
Councillor Kate Gregory, Oxfordshire County Council’s Cabinet Member for Community Services and Safety, said: “E-cigarettes are one of the most effective methods of supporting someone to quit smoking. However, while e-cigarettes pose only a small fraction of the risk of traditional cigarettes, they are not risk-free products and we do not encourage young people who have never smoked before to begin using them.
“The trading standards teams will continue to make test purchases of this kind, to ensure that adequate precautions are being taken by retailers to prevent the sale of such products to children.”
Jody Kerman, Oxfordshire County Council’s Head of Trading Standards, said: “Many Oxfordshire retailers work very hard to train their staff and implement systems to prevent the sale of such items to children. The rising popularity of disposable e-cigarettes amongst teenagers makes appropriate age verification checks absolutely essential.
“Those who don’t follow the rules not only put children at risk but also gain an unfair advantage over their competitors. We will continue to respond to community concerns in this area, prioritising the health and wellbeing of residents and helping to create a level playing field for businesses to operate within.”
Further information for retailers on how to sell e-cigarettes responsibly, including details and photos of illegal products to avoid, can be found on Oxfordshire County Council’s website.
Anyone with information about the sale of illegal, disposable e-cigarettes or underage sales can report to trading standards via the national consumer helpline on 0808 223 1133.
The sale of any kind of e-cigarette (disposable or not) to a person under the age of 18 is prohibited under Regulation 3 of The Nicotine Inhaling Products (Age of Sale and Proxy Purchasing) Regulations 2015 and an offence under section 92 (1) of The Children and Families Act 2014.
Click Sign up to hear from us and receive the latest news and updates in our fortnightly newsletter, Your Oxfordshire.


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Over the decade, some of the individual products have risen sharply. For example, white cabbage is almost three times more expensive than in 2009, almost double the price of butter and sour cream, wheat grains have risen by 70%, fish, coffee, fuel prices have rates submitted by Statistics Lithuania.
However, there are several low cost products. Rice is currently one-third cheaper than a decade ago, sugar and bananas – a quarter, apples, chickens, flour, tomatoes, oil has declined in ten years. Some products do not compare directly, since 2016 the methodology of the Department of Statistics and the characteristics of the products presented were changed.
Make sure: 15 min In the charts below, you can see how the prices of the different products have changed – some prices are severely affected by seasonality, some prices have risen sharply after the crisis, but almost no chart can have a more pronounced change after 2015 when the euro was introduced .
Statistics Lithuania presents the prices of some products since 2000. December – almost everything went up, except sugar, which dropped 25%.
SEB Bank chief economist Tadas Povilauskas warns that food prices may rise in the near future – they will be determined in Lithuania not by the government's struggle for prices, not by the competition of traders, but by the balance between world production and the appetite. So far, food prices in Lithuania have been repeating indices of raw materials and other production costs such as fuel, wages and logistics.
Photo of Julius Kalinskas / 15min / Bullets
Shall we buy butter and sour cream?
The average price of 200 grams of butter per package at the stores was 2 euros, according to statistics from Lithuania. It's close to a record price and doubled more than a decade ago. Likewise, the sour cream rose in price from € 1.02 per pound to the current € 1.84 per decade.
However, the tension in the wholesale market, according to T. Pavilausko, is already falling.
"The dairy market is now in a relatively neutral position, satisfying both farmers and dairy buyers, with raw milk being paid for just over a year, and dairy prices are as high as a year ago, as in the markets Butter prices have risen sharply, and now wholesale prices are returning to normal limits, and larger stocks are already visible in supermarket chains, "says T.Pilailauskas.
Photo of Sigismund Gedvila / 15min / Thad Povilauskas
According to him, "people tend to forget" that after Russia imposed sanctions on dairy products, its prices in Lithuania were artificially reduced for a long time, and this reduced inflation accordingly.
"But by 2017 prices started to rise and inflation accelerated," says T.Pilailauskas.
Photo / Butterfly 123RF.com
It does not predict that dairy prices will continue to fall.
"Looking to the future, I think the fall in dairy prices in the coming months, this year should not be expected – will probably be a small increase," – says T.Pilailauskas.
Why did it cost bananas, tomatoes and apples?
It may seem unbelievable, but today bananas are cheaper than a decade ago. In the wake of the 2009 crisis In January, a pound of these fruits cost 1.32 euros for Lithuanians and up to 1.5 euros in March of that year. In January this year, a pound of bananas cost 0.87 euros, and in March rose to 1.1 euros.
The price of tomatoes, with the exception of seasonal fluctuations, did not change much over the period, and apples prices also fluctuated around a straight line.
"You have to understand that the cycle of agricultural products is one year. And if the yield is good, prices are falling. And if the harvest is bad – prices rise. So if we compare apple prices this year with apple prices 10 years ago, we can remember that last year in Poland there was a record harvest of apples, which reduced prices. What was the income in 2009, I will not say, but if it was less, the situation in the market could have been different, "explains T.Povilauskas.
Photo of Julius Kalinskas / 15min / Bananas
The prices of primitive potatoes and white cabbage are usually set by traders at a very high level at the beginning of the year, and then fall sharply. The price of these vegetables peaks in April-May.
However, the increase in cabbage prices in the last 10 years, among the products provided by the Statistics Department, is the highest – in late cabbage, 170%. more expensive.
Photo of Sigismund Gedvila / 15min / Thad Povilauskas
The price of bread and bread was the same, meat fell
For a long time, dark bread in Lithuania was cheaper than a bat. 10 years ago, the price difference was about 20 cents a pound. Now the black bread and the barrel cost the same, statistics show – about € 1.6 per kilo.
Photo of Life Press / Come with bread with yeast
"A very interesting trend. It is possible that the consumption of black bread is decreasing, it is less cooked and that the yield of rye in Lithuania is probably lower. That's why manufacturers are trying to get a higher price for black bread. Most likely, black bread consumption has fallen more than white bread and bakeries are probably keeping prices higher. Another thing that has changed over the last 10 years and qualitative indicators is that it is now competing through brands, full mass and so on. And quality is probably something unmatched nowadays, "says Pavilauskas.
Prices of meat products are generally less than 10 years ago. For example, broiler chicken costs € 2.73 per kilo and now € 2.39. Other products will not be directly comparable due to the changed methodology. By 2016 the price of pork or beef ham was presented without bone, followed by bone, or vice versa.
"Lithuania imports about 60% of the total. pork, then the fact that we take prices at the Polish level, Lithuania does not really dwell on the conditions of the pork trade, but reflects what is happening in the world. In the 10-year market, there was a move towards poultry, toward chicken, so that chicken production has grown significantly. Over 10 years, the number of poultry farms across Europe has increased and consumption has also increased, "explains T.Povilauskas.
Photo of "empty cages" / conditions of life of the birds in the bird farm of Lithuania
Record low sugar prices
Jam Chefs currently has the most favorable conditions to buy sugar, since its price is one of the lowest not only in 10 years, but still lower than in 2001. In March, the price of sugar was about 0, 68 euros per kilo, compared to 0.92 euros a decade ago.
Photo of Vida Press / Sugar
"The price of sugar is now the lowest since 2006, and I am talking about the overall price. Almost all of Europe's sugar producers have problems. There is indeed a great concern that the current sugar prices in Europe not being competitive and the big sugar producers are lost, so the question is whether there will be a reduction in the sugar factories or if the price will have to grow a bit, "says T.Pilailauskas.
According to him, the situation is global, since farmers in Brazil, India and other markets have harvested good crops.
Over the decade, one of the most depressed products – rice, its price is less than a third.
Rising price increases – oil and food raw materials are becoming more expensive
T.Paulilauskas points out that, in these cases, food prices were determined not by competition from traders, nor by government actions, particularly in global markets. It is they who now threaten the price increases.
"As far as food prices are concerned, I would suggest at the outset to see what is happening in world markets, how food price indices change. It should be immediately stated that world agricultural prices have fallen last year. was seen in Lithuania as many food prices did not grow or grew very little.The government is proud to have done its job well to prevent rising food prices but was basically a global trend – everywhere , agricultural production was falling, "says Poila Pilailauskas.
But this year, trends are already underway.
"We have seen that the price has risen slightly since the beginning of the year – in the world, the price of food is not very fast, but it is already a change. Looking at the coming months, these prices are likely to rise in the world. a faster inflation in Lithuania, but some fundamental changes are not visible, "explains T.Povilauskas.
The economist would expect the biggest change in the pig sector because of the Chinese swine fever epidemic.
Reuters Photo / Scanpix / Pig
"It is jumping in price and now we have a sharp increase in pork prices around the world in March-April, if I am not mistaken, about 17%. In the EU, the wholesale price of pork also increased and this is happening in our trading networks, "says T.Pilailauskas.
What determines the price movement?
T. Pilila emphasizes that there are many circumstances affecting food prices in Lithuania. Internal causes – wages, logistics, these components are growing rapidly. And external causes – market price, including fuel, have so far delayed the price increase. But the food is shrinking the euro.
"Still, a significant portion of the final price of food is not just a raw material, but there are other costs: logistics, personnel, rent, transportation, which is an increase in four years from 2015. Food prices since 2015 the increase of these components did not exceed the limits of reason, logic, "says T.Pilailauskas.
Over the decade, the euro fell about 15% against the dollar, another reason for rising food prices.
"Compared with 2009, we remember that the euro has weakened considerably against the dollar, but most of the international trade in agricultural products is in US dollars. If 2009-2010 a euro was about $ 1, 3, now only 1.11 to 1.12, or about 15% weaker – that is, that part of the raw material is more expensive for us, "says T.Pilailauskas.
According to him, fluctuations in oil prices are also caused by fluctuations in oil prices. At the end of the year, the price of oil began to rise faster, coinciding with the rise in prices of some products.
"When oil fell to $ 30 a barrel, which reduced inflation. But since 2016 the second half was the price increase and again 1%. Point inflation came from the change in fuel prices. It is necessary to evaluate that these factors are beyond our control ", says T.Povilauskas.
Mr Pingila points out that wages in Lithuania have risen by around 10% in recent years, which has increased producers' costs and, consequently, prices.
You can choose other products
The SEB economist admits that consumers have almost no choice when prices are rising. However, they can choose the goods that are dripping instead of more expensive alternatives. For example, if buckwheat increased and rice fell, it is possible to consume more of these grains.
"We often focus on what is happening in supermarkets and who is to blame. But sometimes it's enough to see how prices in global markets are changing and make certain decisions well in advance. Lithuanian families often use it and, if possible, buy products for a long time if something is too loose. For example, even the butter does not run any more and now its price is somewhat retreated, "says Poila Pilailauskas and advises to shop in the stores.
Photo Fotolia / Salty salt
As the salary changed in 18 years: they were 758 litas, now – 746 euros
The table below compares the price changes for some products over 18 years from December 2000 to 2018. a All products, with one exception, went up in price and sugar fell.
However, all price changes, other than cigarettes, were outweighed by wages 3.4 times higher – 758 litas in hand. in December, and now at 746 Eur.


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Caribbean Princess Cuts Voyage Short After Passengers Come Down With NorovirusA vacation at sea was forced to end a day early after several passengers said they weren't feeling well.
277 Cruise Ship Passengers, Crew Members Hit With Norovirus OutbreakRoyal Caribbean’s Oasis of the Seas is returning to a Florida port a day early and giving passengers full refunds of their fare after 277 guests and crew members were hit with an outbreak of Norovirus as it sailed to Jamaica.
Chipotle Closes Location After Reports Of IllnessChipotle temporarily closed a restaurant in a Washington, D.C. suburb after reports a customer became ill, sending shares plummeting more than six percent as the chain works to recover from past food scares.
Chipotle To Temporarily Close All Stores For One Day In FebruaryOn February 8th, Chipotle Mexican Grill will close all of its restaurants around the country for a short time while the company meets to talk food safety, as reported by the Chicago Tribune.
Chipotle Outbreaks At Center Of FDA InvestigationChipotle Mexican Grill has been served with a subpoena by a federal grand jury in connection to illnesses at one of its California restaurants.
Dozens Taken Off Cruise Over VirusCrew and passengers were taken off a cruise ship Friday after the spread of the norovirus.
How Dirty Is It Inside Your House? Bacteria is all over your home and you may not even realize it. CBS4's Brian Andrews examined the things if your house that could make you sick.
Cruise Cut Short Due To Sick Passengers, CrewAn outbreak of gastrointestinal illness aboard Royal Caribbean’s “Explorer of the Seas” has forced the cruise line to cut short the ship’s ten day trip through the Caribbean.
Norovirus "Season" Is Upon Us The “season” for norovirus, a gastrointestinal illness, has arrived in South Florida. Norovirus outbreaks can occur throughout the year. But, more than 80% of the outbreaks occur from November to April according to the Centers for Disease Control and Prevention.
Broward Schools: Norovirus To Blame For Student IllnessesA mystery illness, according to Broward County officials, that sent students at a elementary school sick has been identified as a virus.
Struggling Cruise Industry Banking On Hot TechnologyThe cruise industry has had to overcome several tough obstacles through the last year or so. From the capsizing of the ship in Italy, to the cripple Carnival Triumph, and ships continually plagued with the norovirus.
Passengers: We Returned From Cruise With NorovirusFor the second time in as many weeks, passengers returned from a vacation at sea with claims of hazardous health conditions aboard their cruise ship.
"Sick" Ship Now Clean, Departs S. Fla.The Princess Cruise Line ship “Crown Princess” departed Saturday afternoon after undergoing two days of intensive cleaning following back-to-back outbreaks of the norovirus.
2nd Norovirus Outbreak Forces Crown Princess Back To LauderdaleThe Princess Cruise Line ship “Crown Princess” has returned to Port Everglades after another outbreak of the norovirus, which attacks the gastrointestinal system, the second for this ship in as many weeks.
Crown Princess Returns To Port Again After Norovirus OutbreakFor the second time in as many days, the Princess Cruise Line ship “Crown Princess” is having to return to port after another outbreak of the norovirus, which attacks the gastrointestinal system.


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LOOS: A public toilet block cannot stay open later, say Dacorum chiefs.
Berkhamsted Town Council had written to them asking if the town’s Water Lane car park toilets behind Tesco could stay open for longer.
But Steve Tarbox, cleaning chief at Dacorum Borough Council, said they are already open from 7am to 5pm at weekends. More time would cost £25 per hour on Saturdays and £50 on Sundays, he wrote in reply.
He said: “Usage outside of normal open hours is minimal but incidents of vandalism and antisocial behaviour increase dramatically.”
Toilets would then be closed for repair in normal open times, he said.


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Fungs plan “Macau-style” resort
After more than a year of negotiations and regulatory hurdles, it’s official: Hong Kong billionaire Tony Fung and his son Justin will buy the struggling Casino Canberra, in the business district of Australia’s capital city. The Fungs will pay AUS$6 million (US$4.9 million) for the property, which has been in decline for years.
Last February, the Fungs’ Aquis Great Barrier Reef Resort Group entered into a share purchase agreement to buy the casino from Casinos Austria International. At the time, Justin Fung promised to revive property, telling the Canberra Times, “If successful, we will start working immediately to grow Casino Canberra and start creating tourism and jobs.”
The deal, approved by Australian Capital Territory Racing, Gaming Minister Joy Burch and the Australian Competition and Consumer Commission, means a major redevelopment is in store for the casino, which will be transformed into a “large-scale entertainment/leisure complex with hotel,” according to the Sydney Morning Herald.
Reuters provided more detail, saying Aquis plans “a Macau-style casino and resort” that is expected to attract more high rollers and international travelers. It will have “7,500 hotel rooms, theaters, conference centers and a sporting precinct with an 18-hole golf course.”
Burch said Tony Fung “demonstrated his delight at the opportunity to invest in Canberra. The sale is a clear demonstration of the interest being shown by overseas investors in Canberra. It is a vote of support for our economy and indeed the Canberra community.”


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Shares of Apollo Tyres Ltd jumped 4 per cent in early trade on Tuesday, after the U. S.-based Cooper Tire & Rubber Co terminated its $2.5-billion merger pact with the Indian tyre maker.
On Monday, Cooper Tire confirmed that it ended the agreement after the Indian company informed it that financing was no longer available for the proposed acquisition.
An analyst at Angel Broking termed the termination of the merger deal as a "positive development" for the Indian tyre maker.
The Foreign Investment Promotion Board (FIPB) on Monday approved investments plans of Vodafone Group PLC and Tesco PLC worth more than $1.5 billion, in a move that will provide Indian economy with much-required foreign funds.
India's foreign investment regulator gave its nod for British retailer's $110 million (nearly Rs 680 crore) investment plan. Earlier this month, Tesco announced its plans to set up a chain of supermarkets in India by buying a 50 per cent stake in Tata Group's Trent Hypermarket.
The government has finally started prosecution proceedings in the case of alleged financial fraud at renowned sportswear giant Reebok India, Corporate Affairs Minister Sachin Pilot confirmed.
The prosecution proceedings have been started after the Serious Fraud Investigation Office (SFIO) submitted its report to the Ministry of Corporate Affairs on the case. Mr. Pilot said they took legal opinion and did the best they could do in the case.
Sahara Q Shop, the FMCG & retail division of Sahara India Parivar, has announced its plans to open nearly two thousand stores in Tamil Nadu in the next few years.
The company has decided to open exclusive kirana-type shops as well as introduce mobile trucks to increase its distribution network across the South Indian state.
Romie Dutt, executive director of Sahara Q Shop, said the plans would generate nearly 4,900 direct and indirect jobs across the state.
Beverages and snacks major, PepsiCo India has said that it is planning to invest about Rs12 billion to build a new beverage manufacturing facility in the state of Andhra Pradesh in South India.
The company is aiming to develop a new greenfield beverage manufacturing plant in Sri City, Andhra Pradesh. The company said that it will be the largest beverage plant in India for PepsiCo. The investment plans are a part of the entire plant to invest around Rs330 billion in India by 2020 by the company and its partners.
Stock in Reliance Industries Ltd (RIL) gained nearly 2.5 per cent in morning trade on Friday, thanks to the government's permission for the company to charge higher price for gas it produces from the offshore D6 block from April next year.
In June this year, the Cabinet had approved a proposal to hike prices for locally-produced gas from April 2014, but RIL was not allowed to charge the higher prices because of its failure to meet supply commitment.
Indian real estate giant DLF has confirmed that it has completed the sale of its 74 per cent stake in the insurance joint venture DLF Pramerica Life Insurance to Dewan Housing Finance Ltd (DHFL).
DLF had created the DLF Pramerica Life Insurance JV with US insurance giant Prudential Financial in 2007. In July this year, it exited the JV by offloading its entire 74 per cent stake to DHFL.
Infosys, India's second-largest IT services firm, has plans to hire up to 16,000 engineering graduates during next financial year, N R Narayana Murthy announced on Wednesday.
Mr. Murthy, executive chairman of Infosys, also revealed that the company has already started the process of recruiting fresh engineers.
Speaking at an event yesterday, he said, "We have already started recruitment for the next year. We are looking at about 15-16,000 engineers, so the process is already in progress."
Britannia Industries will now focus on small towns and villages of India to achieve a robust growth, the bakery giant's new COO and country head Varun Berry has said.
Berry, who is also the executive director of the Rs 6000-crore biscuits & dairy products maker, said that increasing Britannia's presence in small towns and rural parts of India would provide a great boost to the company's growth.
Speaking on the topic, Berry said, "Everyone knows the brand Britannia, but why people in smaller towns are not consuming it? The reason is we are not available there. This needs to change."
Indian companies that manufactured various components for the nation's recently launched Mars mission are expected to make big leaps in fields like defence, aeronautics and nuclear energy in the coming years.
The Mars probe, which was launched in October, will cost the country around Rs 450 crore, just 10 per cent the cost of NASA's latest Mars mission Maven.
Nearly 65 per cent of the components for the Mars mission were produced by India's domestic firms like Hindustan Aeronautics Ltd., Godrej & Boyce, and Larsen & Toubro (L&T).


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Neary joins proptech innovator amid strong investment-led growth and upcoming SaaS lettings platform launch.
Online lettings agency, LettingaProperty.com, has appointed ex-GameStop Group MD and co-founder Kevin Neary as Board Chairman, to help drive growth, supported by ongoing investment, planned acquisitions, and product development.
In addition to co-founding, growing and selling videogame giant, GameStop Group, Neary has a history of helping fast-growth businesses to scale at pace, by increasing profitability and growing market share. A LettingaProperty.com Advisor since 2018, Neary’s remit will be supporting the firm’s aggressive market penetration strategy and helping to secure further investment.
Kevin Neary said: “I was attracted by the growth opportunity that exists here. The transition from physical to digital mirrors my experience in the video game industry and I can really see LettingaProperty.com becoming a leader in this space. The new platform is tech-led but service-focused, allowing us to interact with our customers on a very personal level.”
LettingaProperty.com is the longest established online lettings agency in the UK, having helped thousands of landlords to let and manage property since 2008. Its new lettings platform blends innovative tech, deep industry knowledge and expert support, to provide visibility, transparency and control for self-managing landlords and their tenants.
LettingaProperty.com CEO, Jonathan Daines, said: “Kevin is a real difference-maker, with strong ideas and commercial insights. He consistently challenges us to push the business forward and we’re doing just that – achieving massive revenue growth during the pandemic, while expanding our team. We’re so happy to be taking this journey with Kevin on board. We are energised by his involvement and the possibilities ahead.”
Along with the appointment of Neary as Chairman, LettingaProperty.com is working with a number of carefully selected advisors within the property industry and beyond, to support its ongoing growth strategy.


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Porsche dives deep into synthetic fuel research
Now you’d think that carmakers one after the other will go scrambling to get rid of their combustion engine equipped models as soon as possible, and you’d be right. Granted, while many of the brands we know are ramping up their electrification efforts, some, like Porsche, are taking a more relaxed approach.
Alternatively, the German sports car maker is looking to significantly and independently develop synthetic fuels—labeled as eFuels—as a more realistic approach to make car traffic more climate-friendly.
“This technology is particularly important because the combustion engine will continue to dominate the automotive world for many years to come,” says Michael Steiner, Member of the Executive Board, Research and Development. "If you want to operate the existing fleet in a sustainable manner, eFuels are a fundamental component."
eFuels are sourced from carbon dioxide and hydrogen, and have properties that are similar to kerosene, diesel, or gasoline processed from crude oil. Unlike these fossil fuels however, eFuels are climate-neutral, meaning their byproducts to not harm the environment.
Despite its lofty goal for eFuels, Porsche is not looking to develop the product on its own.
"We have a team that is looking for suitable partners who want to build pilot plants with us and prove that the entire process chain works and can be industrialized," says Steiner. “Porsche wants to help shape this chain, but at the same time, doesn't want to define it down to the smallest detail alone.”
Its research into synthetic fuel doesn’t mean Porsche is abandoning its electrification efforts altogether. Case in point, Porsche already has a purely electrically powered model in its range in the guise of the Taycan, and the German marque has plenty of hybrid options in its current models.
However, Porsche believes these are not enough.
Although Porsche plans for half of all its vehicles sold to be electric by 2025, the existing fleet is large. "Our cars are driven for a very, very long time," emphasizes Steiner. “And, while our hybrid vehicles are powered electrically for short distances, they rely on their combustion engines over longer distances.”
"Electric mobility is an exciting and convincing technology but, taken on its own, it is taking us towards our sustainability targets at a slower pace than we would like. That's why we are also committing to eFuels – and not ignoring possible applications in motor sports either,” he explained further.
Porsche wants both current and historical models in its lineup to benefit from eFuels in the future.
Photo/s from Porsche


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Aside from all the announcements about autonomous driving tests and driverless ridesharing services coming down the road, some automakers are moving one small step at a time in connecting cars for practical reasons for drivers.
Audi is a good example. The automaker just introduced a vehicle-integrated toll payment system on some models so that car owners don’t have to stick an additional device onto their windshields to pay for road tolls.
The Integrated Toll Module (ITM) is a toll transponder built into the vehicle’s rearview mirror. The technology is compatible with existing tolling agencies nationwide, which can be linked with a driver’s new or current account, according to Audi.
Audi has been working on another down-to-earth innovation, connecting some of its cars with traffic lights.
Audi created a feature called Traffic Light Information so that its cars can communicate with the traffic infrastructure in certain cities and metropolitan areas, which started testing in Las Vegas some time ago, detailed in a video from Audi.
When a car comes near a traffic light, a dashboard display shows the time remaining until the traffic light turns green. The idea is that eventually traffic light systems and cars will be interconnected so that lights will be more reflective of traffic on any given road.
Audi is not alone in the traffic light department, as General Motors has been testing receiving real-time information from specially equipped traffic lights in Michigan.
While companies like Waymo, Apple, Uber and others go the longer ball of self-driving cars, some automakers a plodding along, introducing one practical connected feature after another.


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Suzuki Motor Corporation of Japan announced on Thursday that as part of its expansion strategy, it will deploy six battery electric vehicles in Japan and India (5 in Europe) by 2030 and reach carbon neutrality by 2070 (2050 in Japan and Europe) in accordance with the government’s aim.
Suzuki’s focus markets are India, Japan, and Europe, with Africa also mentioned in the presentation as a market with a promising future. Thus, the automaker previewed the EV debuts individually for each market, showing the silhouettes and lighting signatures of the upcoming models. By 2030, the company said battery EVs will account for 15 percent of its total product portfolio, while internal combustion engine vehicles will be 60 percent and hybrid electric vehicles at 25 percent.
In total, Suzuki will invest no less than 2 trillion Yen (more than $15 billion with the current exchange rates) in the research and development of new products. It’s important to note that this huge figure also includes the company’s R&D efforts in sectors outside the automotive industry, including motorcycles, outboard motors, and others. Additional 2.5 trillion Yen ($19.2 billion) will be poured into the construction of a battery plant for electric vehicles and renewable energy facilities.