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Samsung Electronics Vice Chairman and co-CEO Han Jong-hee speakes during a press briefing held on the sidelines of the CES trade show in Las Vegas, Friday. (Samsung Electronics)
LAS VEGAS – Samsung Electronics Vice Chairman and co-CEO Han Jong-hee said the South Korean tech giant was bracing for a rough year ahead, renewing his commitment to seeking new growth drivers in futuristic technologies such as robots and the metaverse.
“Overlapping crises, including the prolonged economic recession, geopolitical tension, supply chain risks and climate change, have drastically increased uncertainty in the market,” Han said at a press conference Friday held on the sidelines of the CES trade show that kicked off Thursday in Las Vegas.
“How the company overcomes the multiple crises will determine the success or failure in the future,” he added.
The CEO’s comment comes on the same day that Samsung forecast its operating profit in the fourth quarter in 2022 would plunge 69 percent on-year to post 4.3 trillion won ($3.4 billion), which was far below the market consensus of 6.9 trillion won. Sales for the October-December period were also estimated to decline to 70 trillion won, down 8.6 percent compared to a year ago.
Weakening demand for chips and home appliances due to global economic downturn, was cited as the reason. High exchange and interest rates also affected consumer sentiment, the vice chairman said.
In times of hardship, he said Samsung always stuck to the simple truth to always focused on the fundamental values.
For future growth engines, the world’s largest memory chip and smartphone maker is looking into robots and metaverse, Han said.
The tech giant recently decided to invest 59 billion won ($46 million) in a South Korean robot maker, called Rainbow Robotics. The robot maker, which became the first listed robot company to secure an investment from Samsung, was founded in 2011. The company introduced its flagship collaborative robots in 2020.
Samsung is also serious about the metaverse, though the hype over the virtual reality space appears to have peaked and subsided fast at the moment.
“As it is with all technologies, it always attracts attention when it first begins. But technology goes to where it is the most needed, and I think the metaverse is also in that flow,” Han said.
“Companies have not stopped developing technology (for the metaverse), they are all working hard. But they are looking at where this technology can go and more details will be out as time passes. Now, the metaverse and digital twins are a hot topic.”
The CEO who oversees smartphone and home appliance businesses also pledged to elevate Samsung’s ailing presence in the Chinese market, where its market share in smartphone sales has remained at a tiny 2 percent.
Citing a new business innovation team in China launched in 2021, Han said, “We have found what the problem is. To give an example of our TV lineup, our strategy was largely centered on the US and Europe, but we have learned China has its own system of preference.”
Han admitted Samsung’s products came short of Chinese consumers’ expectations and vowed to launch more tailored products and services exclusively for Chinese consumers.
By Jo He-rim
Korea Herald Correspondent
By Jo He-rim (firstname.lastname@example.org)


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Yahoo has recently admitted that more than one billion accounts have been affected in a hacking attack dating back to 2013. While we are not surprised that they have kept it quiet for years (leaving thier customers open to even more security risks), we are however amazed that anyone still uses such a crappy service. Yahoo mail ? What year is it ?
04 Jan 2017
Co-Founder / Administrator

domain: news


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Apple has quietly raised the prices of its student plan for Apple Music in the US, UK and Canada this week. The increase is very small, but at this stage it is not clear when this was changed and for what purpose, considering that it is now more expensive than Spotify Student Premium.
In all three countries, Apple has raised the price by $1 and £1, so here in the UK it used to cost £4.99 per month, but it now costs £5.99. Same in the US and Canada – used to be $4.99, now $5.99.
However, at the moment Apple Music Student does come with Apple TV+ tacked on, but is a “limited-time offer” currently.


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HARRISBURG, Pa. (WHTM) – An athletic footwear and apparel store, named Nice feet opened its second location in Central Pennsylvania last week.
The athletic footwear and apparel franchise, owned by Fred and Shelby Joslyn, first opened its doors to customers in 2015 at Mechanicsburg, 6416 Carlisle Pike. Now, eight years later, the two owners have officially opened their second location.
Nice feet offers a wide range of athletic shoes and apparel for both men and women, but what sets them apart the most is how they find the perfect shoe for you.
“Fleet Feet helps runners, walkers and fitness enthusiasts of all skill levels find the best-fitting shoe,” according to a previous press release from the commercial real estate company Levin management company. “Fleet Feet’s 3D foot scanning technology ensures the perfect footwear and fit.”
The new 2,700 square foot Fleet Feet is located in the High Pointe Commons Shopping Plaza at 4640 High Pointe Blvd. The shop front is right next to it Harrisburg’s Orange Theory Fitness.
Fleet Feet’s Mechanicsburg and Harrisburg locations are open as follows:
- Monday – Friday // 10:00 a.m. – 6:00 p.m. to 7:00 p.m
- Saturdays // 10:00 a.m. to 6:00 p.m
- Sunday // 12:00 p.m. to 4:00 p.m
“Serving our community and creating a memorable retail experience will remain our primary focus,” Fleet Feet said in a press release. “We’re excited to be more accessible to many of our customers and to meet more people we can help.”
According to Fleet Feet, the new location had its opening date on Thursday February 9th and will hold a grand opening event on February 25th.
https://www.abc27.com/local-news/harrisburg/fleet-feet-an-athletic-shoe-and-apparel-store-opened-a-new-location-in-harrisburg/ Fleet Feet, athletic shoe and apparel store, opened a new location in Harrisburg


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Defending its longstanding relationship in China was key for Mindshare after Nike awarded many global markets earlier this year to Initiative, including some duties in Asia.
The review impacts all of the pro football league’s current media agencies.
Car marque is working with The Observatory International.
The global brewer is looking to kick off meetings in Cannes in pursuit of a new global creative ecosystem.
Florian Adamski, chief executive of OMD, talked to Campaign.
The French luxury giant, which also owns brands including Yves Saint Laurent and Balenciaga, is currently with Zenith.
Top news, insights and analysis every weekday
Sign up for Campaign Bulletins


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Nov. 9, 2012
-- Tarot Deck has achieved tremendous success since the website's launch. Tarot Deck currently offers visitors the chance to get an online psychic reading for free. As a website, they aim to bring consumers and psychics together through the power of video streaming. On the website, each day, psychics stream across the site and reach out to consumers who want a psychic reading. In addition to interacting with real psychics, users are given the opportunity to join psychic chat rooms and engage in public discussions regarding the art of psychic readings. The community allows visitors to chat and get online psychic reading's for free - something which no other website currently offers.
As a promotional offer, Tarot Deck are also proud to announce that they are currently teaching people of the site how to become online psychics and giving out free reports on how to develop yourself as a psychic. The news comes after Tarot Deck announced that they will be launching a major campaign to help boost publicity for the site and the art of psychic reading. In addition, they also plan to teach visitors of the site the art of tarot reading, through offering a beginners guide.
Never before has there been a website devoted to online psychics, which actually devotes it's time to teach visitors the art of psychic readings. To learn more about their website, and their free psychic readings, head over to: http://www.tarotdeck.org/


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The scrutiny that US regulators are imposing on cryptocurrency companies seems to be becoming a trend. Kraken is the latest company to run into trouble. The exchange had to pay a $1.25 fine for alleged illegal activity.
The United States court has managed to discharge a case that was condemning bitcoin cash (BCH) protagonists such as the Bitmain cryptocurrency exchange, its founder Jihan Wu, Kraken, its founder Roger Ver of forging as well as influencing the token's value in November 2018, when previous BCH hard fork that occurred and gave birth of bitcoin SV (BSV).
The price of Bitcoin SV (BSV) has been drawn into chaos since reports emerged that Binance and several other cryptocurrency exchanges decided to delist the token. Since then BitFinex, Huobi, Kraken and Bittrex were the only major exchanges offering BSV trading. Till April 16, when one of the biggest cryptocurrency exchanges - Kraken - announced that it will delist BSV as well.
Utterly new exchanges are exhibiting drastic robust trading volumes, covering up among high marketplaces and far away above older established platforms, which has resulted to more assertions of attempts to increase visibility in CoinMarketCap's exchange platform rankings, particularly through fake and fraudulent volumes.
In this fast-growing cryptocurrency universe, 2016 seems like donkey’s years ago. Very many giant cryptocurrencies have fallen by a resting-area and 80% out of the top ten crypto platforms by trading volume have completely lost their position. Time has lacked sympathy to many bullish cryptocurrency exchanges including altcoin.
Coin Idol TV News channel broadcasting a new video digest on April 20. Today in our digest: NASA initiates Ethereum blockchain technology research for space communications and navigation, Kraken set to quit the Japanese cryptocurrency market, Lithuania plans to allow the activity of virtual limited liability companies, IMF Chief Christine Lagarde has supported the implementation of cryptocurrency.
Cryptocurrency exchange Kraken, with headquarters in San Francisco, announced on Tuesday, April 17, that it has stopped its activity on the Japanese financial market because of the high operation cost there. However, the company hinted it could come back, with Japan being one of the world’s biggest bitcoin trading centres.
On December 15, 2017, agents of the Ukrainian security service (SSU) conducted a search in the rented apartment of Anatoly Kaplan, the founder of the popular cryptocurrency and blockchain-related media outlet – ForkLog, and literary “robbed” cryptocurrency from his wallets, and a bottle of Kraken rum.
One of the top-5 most valuable digital assets by market cap, Dash, is in another major price uptrend after the announcement that one of the world’s largest cryptocurrency exchanges, Kraken, would support Dash.


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Midsize industrial companies brace for COVID-19 liquidity challenges
Cash flow forecasting is one way companies can prepare
INSIGHT ARTICLE |
Middle market industrial companies have been more resilient than some of the bigger industry names in the face of recent trade challenges, such as the tariff war between the United States and China. But as the COVID-19 pandemic continues, middle market players are starting to see a decline in sales and are preparing to face a potential liquidity crunch.
The middle market consists of a significant number of companies that are suppliers to original equipment manufacturers, and as such, there is often a lag before this critical supplier network experiences the challenges the end market has already faced. During the coronavirus pandemic, those end-market supply chain troubles have included parts shortages, factory shutdowns and increased freight costs, all of which have recently begun to create liquidity pressures on middle market industrial businesses.
While these companies may be able to weather any liquidity challenges over the next two to three months, longer-term disruptions will likely require additional liquidity measures. In comparison to larger companies, middle market industrial companies appear to be better positioned to meet short-term obligations, but their debt levels have generally been relatively higher, which adds challenges to their longer-term liquidity outlooks.
Source: Bloomberg. (Midsize companies refer to public companies with revenues between $450 million and $5 billion.)
Here’s what companies can do to prepare
Cash flow forecasting and management: The most immediate task for any middle market industrials company is to look at the organization’s cash flow and whether its cash forecasting estimates are accurate. If a company’s weekly, monthly and quarterly forecasts don’t show that revenue is expected to be higher than anticipated expenses, the business should prioritize generating more cash flow over other earnings metrics.
Companies should suspend buybacks and dividend payouts, pause nonessential projects and reevaluate capital projects for midterm relevance. It’s also important to determine which vendors are critical to supporting operations and seek out options for delaying payments to other vendors. Companies can also negotiate with landlords for applicable abatements, delayed payments or other arrangements to share the burden.
Many middle market companies generally don’t prepare 13-week cash flow reports, or have established cash forecasting processes, but using cash flow modeling tools can be critical during a crisis.
Working capital management: Companies can request longer credit terms from suppliers and at the same time explore the possibility of expediting payments from certain customers. This should be done on a case-by-case basis depending on each customer’s financial strength, industry and relationship with the company requesting the changes. Businesses could also invoice more frequently. However, it’s important to remember that customers and suppliers across the supply chain may be struggling.
Some larger companies are supporting their suppliers through advance payments or other financing options in order to strengthen their supplier base. Companies may consider approaching some of their larger customers for such potential supplier support initiatives.
If companies can manage their inventories to avoid stockpiling but instead purchase on an as-needed basis, this can provide significant liquidity relief. Of course, this needs to be supported by an adaptable inventory management system and suppliers who can deliver on time.
Flexible production schedules: In the face of declining orders, companies can consider expediting their backlogs. If companies sell to multiple end markets, they can explore the possibility of adapting their production lines to manufacture essential products or increase output for end markets that are stronger in the current environment, such as the health care and food sectors.
Federal liquidity programs: The U.S. government has introduced a number of programs to ease liquidity and tax concerns of small and medium-sized businesses dealing with the economic impacts of COVID-19. The Small Business Administration’s Paycheck Protection Program under the Coronavirus Aid, Relief and Economic Security Act (known as the CARES Act) and the recently announced Main Street Lending Program are two initiatives aimed at supporting lending to eligible small and medium-sized businesses.
Tax relief programs: Through the CARES Act, the government has introduced various tax provisions to provide relief to businesses. These relief options include changes to net operating loss rules, enhanced interest expense limitations and extended tax return filing deadlines. Current tax laws could also provide certain planning opportunities that can offer some liquidity relief. In addition, multinational companies should also explore international tax provisions that can assist in repatriating cash from overseas operations.
Many other countries have also introduced targeted tax credit and incentives, and grant and loan programs to help local businesses. Companies with operations in these countries should explore liquidity opportunities throughout their global footprint.
Existing lenders: Companies can explore drawing down their revolver facilities after evaluating short-term needs against prolonged uncertainty. If required, bankers could be asked to amend covenants in the interim or negotiate for better terms. Companies should carefully evaluate liquidity needs before taking on more debt.
Layoffs: Laying off employees can be very expensive given retraining and rehiring costs, and lost productivity. Companies should carefully consider long-term operations when deciding whether to implement layoffs, and also consider whether furloughs could be a more suitable option if staff levels need to change.
While the above measures can help stem the liquidity crisis in the short- to midterm, what is critical is how companies use this crisis as an opportunity to make themselves more resilient for future uncertainties. Investing in data analytics and other technology solutions will ensure companies can operate efficiently with optimized costs, be lean and adaptable, and positioned to make the best out of this crisis.
The CARES Act, including a proposed main street lending program, offers help to middle market businesses facing challenges from COVID-19.
RSM put out a guide to answer questions businesses may have about this new program, based on information from the Federal Reserve.


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Beta News Features Snyder’s Article on Retail’s Success Roadmap for the Tech Industry
Beta News – a renowned enterprise tech publication recently published Joe Snyder’s thought leadership article:
Unveiling retail’s success roadmap for the tech industry
Amidst the ever-evolving post-COVID-19 era, the tech industry has been met with unprecedented challenges such as budget constraints, mass layoffs, and the urgent need for adaptability. In the face of these uncertainties, tech companies can draw valuable insights from numerous retailers who demonstrated remarkable resilience during the pandemic. How did these retailers triumph amidst one of the most challenging periods in recent history? In this article, we explore key takeaways that hold immense potential to benefit the tech industry in the current economic landscape.
Retailers have demonstrated unwavering dedication to improving customer service, cultivating loyalty, and fostering trust, resulting in strong and enduring customer relationships. Tech companies can adopt a similar approach to enhance their customer service efforts, aiming for frictionless user experiences and delivering personalized recommendations. Embracing innovative channels like chatbots, virtual assistants, and social media platforms enables real-time support and fosters immediate engagement, nurturing long-lasting connections with customers.
Embracing Agility and Adaptability
Retail companies that demonstrated the ability to anticipate and effectively adapt to unexpected circumstances emerged as resilient and robust entities. Similarly, tech companies must embrace agility and flexibility to align themselves with the rapidly evolving market conditions. This may require them to redirect their focus towards more cost-effective products and services, diversify their offerings, and simplify their business models to cater to the ever-changing preferences and needs of customers.


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September 2, 2013
A K Purwaha , CMD, Engineers India Limited (EIL) presented a dividend cheque of Rs 81.27 crores as final dividend for the FY 2012-13 to M Veerappa Moily , Union Minister for Petroleum and Natural Gas on August 27, 2013. This amount is in addition to the interim dividend of Rs 81.27 crores paid to Govt of India in March, 2013. Thus the total dividend paid to Govt of India is Rs 162.54 crores. The total dividend for the financial year 2012-13 amounts to Rs. 202.16 crores.
April 18, 2004 |
AHMEDABAD: Mundra port has reported 9.5% growth in cargo handling business during the year '03-0. The company said in a statement that it handled 4.6 million metric tonnes (MMT) cargo for the year ended March 31, '04, against 4.2 MMT last year, posting a 9.3% growth. Sanjay Gupta, CEO, Adani Infrastructure, said in a statement that the port has already established itself as a major hub for handling import cargo such as fertilisers, steel pipes, and plates, edible oils, chemicals and petroleum products and export cargo like bauxite, bentonite, clinkers and salt.
January 5, 2011 |
NEW DELHI: Hero Corporate Service today said it has identified two more employees who could have colluded with its former Associate Vice-President Sanjay Gupta and Citibank employees in the Rs 300-crore fraud. "Following an initial internal enquiry, two employees -- Ganpat Singh and Gaurav Jain-- working in the accounts department have also been identified to have been in possible collusion with Sanjay Gupta and Citibank employees," Hero Corporate Service said in statement.
September 30, 2007 |
On September 18, when Anurag Kashyap came across a YouTube video of his film Paanch , which has yet to be released in the market, the first thing he did was write a quick blog on passionforcinema.com. The words tumbled forth. "I woke up this morning and got a mail from someone I don't even know...and I got so emotional. See how young I look...I sound like all those directors who say it's a different film... I was blabbering all of that. But made me feel so good," gushed Kashyap.
September 7, 2008 |
NEW DELHI: Bharti Airtel, one of the two licenced sellers of Apple iPhone, has tied-up with VISA to introduce finance scheme to help consumers buy the high-priced cellphone. As per the partnership, Airtel would offer financing options for all VISA cardholders of ICICI, HDFC, SBI and Citibank, the company said in a statement. The consumers in this scheme will have an easy monthly installment option with a varing tenure of between three and 12 months. "Our partnership with VISA will provide a new opportunity for consumers who aspire to own the 3G iPhone.
April 14, 2011 |
GURGAON: Mastermind of Citibank fraud Shivraj Puri took an exposure of whopping Rs 1.13 lakh crore in the equity market using Rs 236 crore of 51 high networth individuals and corporates and lost everything following decline in stock markets, says a Sebi report. Puri used to trade in future and options on the 50-share Nifty Index, and lost out after undertaking multiple trade transactions, police sources said quoting the report of the Securities and Exchange Board of India (Sebi)
July 10, 2014 |
Allocations of Rs 7060 crore for smart cities, Rs. 500 crore for bridging the digital divide, a 100 crore for a technology development fund and several other e-governance initiatives have given the Indian IT industry some reason to cheer the Budget 2014. It is the connectivity opportunity that the industry seems excited about. Be it the Rs 300 crore police modernization project or the rural connectivity schemes, they are bound to open up huge projects in the infrastructure development space, and that is good news for the IT industry.
April 11, 2008 |
MUMBAI: Johnson & Johnson Vision Care on Friday said it is in the "investment mode" in India and would focus on key metro markets. "We are in investment mode in India. Our investments would be more than our sales. We would focus on Mumbai, Delhi, Bangalore, Chennai, Hyderabad and Kolkata," Johnson & Johnson Managing Director Sanjay Gupta told reporters. He refused to disclose the investment figures or sales figures of India. Johnson & Johnson Vision Care is part of Johnson & Johnson Ltd. It sells Acuvue brand of contact lenses in the Indian market.
November 19, 2010 |
NEW DELHI: Steel pipe maker APL Apollo Tubes today said it has acquired Maharashtra-based Lloyds Line Pipes for Rs 40 crore in an all cash deal against the earlier announced deal, which included part payment in shares as well. "An all cash deal helped us to expedite the acquisition process. With the completion of the acquisition, we are looking at faster integration of the new facility at Murbad ( Maharashtra ) and a stronger foothold in the western markets," APL Apollo Tubes CMD Sanjay Gupta said in a statement here.
March 5, 2009 |
WASHINGTON: At least eight Indian Americans are among the 108 regional finalists to the prestigious White House Fellows for the year 2009-2010. The list was released by White House yesterday. White House Fellows Programme is the most prestigious programme for leadership and public service in the US. The regional finalists would be interviewed for the final list of about 30 outstanding women and men, who would then be appointed as a White House Fellow for one year by the US President, Barack Obama.


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Market Statistics and Summary for the Oklahoma City Metropolitan Area: Jan. 2017 results
* December Active listing inventory (supply) decreased 8.55% when compared to January 2016.
* New Listings dipped slightly at 2.35% when compared to January 2016.
* The average sales price increased to $181,391 versus January 2016 at $178,836.
* Average days on the market increased from 59.32 last year to 66.61 this January.
* Pending sales were up 9.06% in January versus the same time last year.
The market is off to a bit of a slower start this year. But the fact that listing pending sales are up, combined with the fact that interest rates are still low, means there is opportunities for both buyers and sellers in our current market.


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TO THE EDITOR:
As a dealer for over 40 years, I’ve missed very few of Keith Crain’s columns. I’m hopeful that many readers will read his Oct. 2 column two or three times. The context of the headline, “It never is their fault,” is extremely important.
When the manufacturer seeks to solve their market challenges almost exclusively by demanding major and significant adjustments to retailer policies and procedures, then disappointing results truly are “never the fault of the dealer.”
I am grateful for Crain’s observations and would hope that the leaders and staff at the National Automobile Dealers Association could find their voice on subjects that impact the future of the franchise system.
ALAN STARLING, President, Starling Chevrolet-Buick-GMC, St. Cloud, Fla. The writer was the 2003 chairman of NADA.


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Technology is a great equalizer when it comes to starting a business. You don’t have to be a millionaire to turn a great idea into a profitable venture. There are many stories of “bedroom coders” turning a great idea into a multi-million (or even billion) dollar venture, as this data graphic created by CWCS highlighting the richest people in technology shows.
Mark Zuckerberg, the creator of Facebook, is the biggest dollar gainer in Forbes Billionaire list this year, but Zuckerberg isn’t the only billionaire to come out of Facebook. Sheryl Sandberg, Facebook’s COO, entered the billionaire list for the first time in 2014 and has a net worth of just over $1 billion. Facebook VP Jeff Rothschild was another new entry for 2014, and he has a net worth of $1.5 billion.
Another interesting addition to the billionaire’s list for 2014 is Jan Koum, the co-founder of the communication software WhatsApp. This convenient mobile instant messenger app was a sleeper hit until recently, when Facebook decided to acquire it, bringing it to the attention of millions of users worldwide. The social network has been on an acquisition spree recently, expanding its horizons to hardware by picking up Oculus, the makers of the prototype virtual reality headset Oculus Rift.
As you can see, if you have a great idea, it pays to develop it, because success can come from many angles. Even if you don’t manage to get your product to market yourself, if the idea is good someone may want to pick it up!


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How valenced reader comments affect recipients’ perception of scandalized individuals and the journalistic quality of online news? ask Christian von Sikorski of University of Vienna and Maria Hänelt of German Sport University Cologne.
Study shows that reader comments can have a systematic influence on online journalism. The comment function can lead to not only positive effects, such as traffic on online platforms, but also negative effects. Contributions of other users can influence the perceived journalistic quality of an article in a negative way and thus lower the recipients’ “trust” in a specific online medium. That is why online newspapers may want to concider about separating news forums and controversial discussions from news articles.
The article is published online before print by Journalism & Mass Communication Quarterly. Read the article here.
Wall in Pembroke by NH53, licence: CC BY 2.0


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Microsoft (NSDQ: MSFT) reported revenue of $16.37 billion in its quarter ended December 31, up 30 percent year-over-year from $12.54 billion. Net income grew by 32 percent to $4.7 billion ($.50 per share), from $2.6 billion ($.26 per share). The previous year’s quarter was hurt by a $1.64 billion revenue deferral, without which top-line and earnings growth would have come in at 15 percent and 32 percent respectively. The company cited the strength of Windows Vista for the strong year-over-year performance. For the full year the company is predicting $59.9-$60.5 billion, which is over $700 million more than its prior forecast. Between the strong forecast and earnings beat of .04 per share, the stock is up about 4.5 percent after hours.
— Entertainment & Devices: Division revenue hit $3.06 billion, up a modest 3 percent, but operating profit swung to $357 million from a loss of $302 million in the year-ago period. The company said that life-to-date Xbox 360 sales stand at 17.7 million, an increase of 70 percent over the prior year. Xbox live claims 10 million members.
— Online Services: The division including its efforts in online advertising grew revenue 38 percent to $863 million, although losses more than doubled from $118 million to $245 million. ex-aQuantive, which contributed $154 million in revenue, online ad revenue grew 26 percent. Live IDs grew 27 percent, to 427 million.
Conference Call: The old workhorses at Microsoft — Windows, business software, servers — are riding high at the moment, perhaps taking some of the spotlight off the company’s emerging business. CFO Chris Liddell acknowledged that the online business is not yet up to par with some of its peers, but he called the company’s efforts a “multi-year journey,” while the company is “investing with the expectation to be at a critical mass in several year.” In the meantime, Microsoft will spend in all areas of its online business, including search, content, publisher tools and e-commerce.
Economy: Microsoft isn’t expressing much concern about the state of the US economy, though Liddell did say that no company can be totally immune from weakness: “If you’re looking at particular verticals, probable we can find a couple of soft spots… we’re being cautious like everyone else about what might happen in the US economy… you have to look really hard to find any weakness in our results in the first half.”
Entertainment: The company trotted out some impressive-sound statistics to tout the health of this business: Consumers spent 27 percent more on Xbox and related products than on the Wii and twice as much than on the PS3 in the latest quarter. Xbox 360 had four titles that sold over 1 million in the quarter, compared to three for the Wii and none for the PS3. 10 million members for Xbox live was achieved six months ahead of schedule. As for the Zune, Microsoft says 1.5 million people joined the Zune social community during the holiday season and music sales doubled from last year.


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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Peru's non-traditional exports to expand 7% in 2017Tuesday, May 02, 2017 > 09:55:15
Peru’s non-traditional exports are expected to rise 7% this year compared to 2016, driven by agriculture and fisheries sectors, the country's Exports and Tourism Promotion Board (PromPeru) informed.
"This year, non-traditional exports will be underpinned by agriculture and fisheries, but a garment industry's strong contribution —after three years of contraction— will be perceived as well," PromPeru Exports Director Luis Torres told Andina news agency.
Textile and metal mechanic sectors will also see a recovery, contributing to the growth of traditional exports in 2017.
One of the products driving this year's expansion will be blueberries, thanks to government efforts to expand access to markets, mainly that of China.
"We will continue working to promote new products. Much more is yet to be done in Asia and Oceania, particularly in China and Australia —major destinations for Peruvian exports," he said.
Furthermore, he said several products will be placed on the European market, mainly in agriculture and garment industries, in the coming six months.
Other Trade and Development News
Global Affairs Canada and Statistics Canada headlines


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Startup by Indians raises million dollars
The robots, Bo and Yana, have managed to raise more than a million dollars in the last four weeks, in a crowdfunding campaign by Play-i.
CHENNAI: How to teach computer programming to kids as young as five years old? Play-i, a company founded by two Indian IIT alumni, a marketing executive from Pakistan and a designer from Australia, is trying to solve the problem by introducing two robots which can be programmed by children using handheld devices, like an iPad.
The robots, Bo and Yana, have managed to raise more than a million dollars, four times the original need, in the last four weeks, in a crowdfunding campaign by Play-i. The original target of $2,50,000 was achieved in just 3 days. Based in California, the company last week added India to the list of locations it will start shipping in summer 2014.
Started in November 2012, Play-i is the brainchild of Vikas Gupta, an IIT Kanpur alumnus and who earlier headed consumer payments at Google and also led Amazon Payments. The idea is based on twin assumptions — that knowing programming better than others can be an edge in tomorrow’s workplace when technology will pervade every industry and that programming can be taught to kids as young as five years old. Earlier this year, Bill Gates, Facebook CEO Mark Zuckerberg, and Twitter co-founder Jack Dorsey argued in a video that computer programming should become part of school curriculum at an early stage. While the company has exceeded the crowdfunding target, how far will they be successful in delighting parents and kids remains to be seen.
While these are not the first programmable robots in the market, they are different since they target the age group 5-8 years while most others target 10+ years.
The two robots can be connected to a portable device through bluetooth and kids can command the robots to do anything — run, play music, pick objects — by merely swiping the touchscreen. The robots are instructed using visual programming languages like Scratch and Blockly where kids don’t need to write or remember code in text form. Instead, they drag and put together blocks or other visual tools in a variety of logical orders to create programs.
The robots can also sense each other’s presence. Bo (derived from Robot) is positioned as an ‘explorer’, while Yana (short for ‘You Are Never Alone’) is a ‘storyteller’. While the explorer Bo can wheel around, Yana is stationary but can roll like a football due to its shape. Together, they are priced $189 (around Rs 11,000).
The founding team is diverse and met each other through common friends. While Vikas Gupta is a computer science graduate, Saurabh Gupta did electrical engineering from IIT Delhi and looks after software and hardware part of the robots. He led the iPod software team at Apple between 2006 and 2012. The product designer, Mikal Greaves from Australia, was VP of engineering at Frog Design with extensive experience in building consumer products including ones for children. “The only non-techie in the team” Imran Khan, who studied at Punjab University in Lahore and has headed marketing at firms like E-loan and Symantec, and is the marketing head here.
The team spent the first three months on a product which failed, and after another three months, Bo and Yana were born. “Our initial plan was to have only one robot Bo, but feedback from children changed that. They wanted their robots to fly like helicopters and leap like kangaroos. We needed something which can understand their gestures,” says Vikas Gupta. Thus was born, Yana which can be programmed by actions like clapping or shaking.


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With September's expected Windows 8 release date on the horizon, Microsoft has officially unveiled Office 2013 with PC and tablet integration
Microsoft has officially unveiled the recently rumoured Office 2013 release with the new software suit to land as the first fully Meto-optimised offering fully attuned for use on both PC and tablet devices.
Making the announcement in San Francisco, Microsoft CEO Steve Balmer took to the stage last night to give Office 2013 its first official outing whilst describing the upcoming software package as “the most ambitious release of Microsoft office that we've ever done.”
Describing Office 2013 as “a new generation that brings some of the same boldness and beauty that we've shown you in Windows 8 and Windows Phone,” Balmer has suggested the latest Office suite, which has been optimised to better work with touchscreen devices, will be as appealing and useful to students and families as the classic business user.
The most lucrative arm of Microsoft's expansive business, Office packages currently earn the company a staggering $15 billion (£9.58bn) per year with around one billion people using the software across 90 per cent of the world's business machines.
Microsoft Office 13 features:
With the full Office packing coming in for a Windows 8 themed overhaul, the likes of the frequently used Word, PowerPoint, Outlook and Excel are all set to benefit from a new design and a selection of additional performance enhancing features whilst the likes of OneNote are also set to be spruced up.
As Word adds the ability to directly edit PDFs and improved options for embedding YouTube clips into documents, PowerPoint users are to benefit from accessing notes and individual slides on a Windows 8 tablet whilst using their PC to project a presentation.
On top of this, improved handwriting recognition is set to aid tablet-based OneNote users whilst Microsoft's recent acquisition of VoIP giant Skype sees the service integrated directly into the Office 2013 package alongside improved social networking functions.
Microsoft Office 13 release date:
Although Microsoft failed to give an Office 2013 release date or pricing information during yesterday's announcement, it is expected the newly revamped software could land alongside the Windows 8 launch this autumn.


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CinemaNow Partners with TAVI to Deliver Movies, TV Episodes, and Music Videos for TAVI 030 Portable IPTV Media PlayerFriday, January 4th, 2008
Partnership to Enable Users Instant Access to Thousands of Premium Movies and TV Shows On-the-Go
MARINA DEL REY, Calif. & LONG BEACH, Calif. — CinemaNow, a digital entertainment innovator delivering high-quality Hollywood movies and TV shows across multiple platforms, today announced a partnership with TAVI to offer consumers a customized CinemaNow video service developed to work seamlessly with TAVI’s 030 Portable IPTV Media Player. The new service will enable TAVI IPTV Media Player users to directly download and playback CinemaNow’s extensive library of Hollywood and independent video content on-the-go. Users will also be able to utilize the device to watch their CinemaNow content on television.
CinemaNow will offer the largest selection of movies, TV shows and music videos available on the Web through its embedded store within the TAVI 030 IPTV Media Player and manage content licensing and delivery for consumers. Priced from $1.99 to $19.99, CinemaNow’s offerings will include major movie and television releases from Disney, Fox, Lionsgate, MGM, Paramount Pictures, Sony, Universal and Warner Bros. In addition, CinemaNow will offer TAVI 030 users music videos and concerts from EMI and Sony BMG, along with various programming from the Sundance Channel, A&E, the History Channel, Egami and many other creators.
“CinemaNow is evolving in the digital entertainment landscape by continuously cultivating new ways to deliver high-quality movies and TV shows across multiple platforms,” said David Cook, COO of CinemaNow. “The partnership with an innovative company such as TAVI extends CinemaNow’s ongoing initiative of developing customized digital entertainment technologies for various consumer electronics devices.”
Users will be able to watch their CinemaNow videos on the TAVI 030’s interactive touch screen, which supports high-definition picture qualities and 5:1 channel surround sound. The TAVI 030 is also equipped with the TAVI Media Bus, a management service platform that connects the device to the home media network to allow users to watch their content on PCs and television sets. Additionally, the TAVI 030 is capable of storing up to 60 hours of high quality video or 15,000 hours of music, offering users plenty of space to store their CinemaNow content.
“TAVI is dedicated to setting a new standard in multimedia viewing experience by delivering powerful and robust streaming IPTV technology for consumers,” said Chong-Ho Choi, CEO of TAVI. “We are confident that working with CinemaNow to provide a rich multimedia experience will create an elevated digital entertainment experience for consumers.”
“The pairing of TAVI’s unique video playback capabilities with CinemaNow’s industry-leading content library promises to elevate the mobile video experience to a new level of quality and convenience,” said Dan Hsieh, TAVI Advisory Board member and former Disney strategy SVP. “By creating a secure platform that allows consumers to easily access and enjoy their content in any location on any screen, TAVI and CinemaNow have created a win-win proposition that will appeal to consumers and content providers alike.”


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- Marjorie van Elven |
Motorcycle manufacturer Harley-Davidson has turned to Amazon to boost sales of its apparel and riding gear. “The reach Amazon offers is critical to building stronger customer relationships”, said Heather Malenshek, Senior Vice President of Marketing and Brand for Harley-Davidson, in a statement. The brand’s merchandise was only sold on its official website until now.
Malenshek explained that the decision to use Amazon’s marketplace is part of the company’s strategy to reach out to younger customers. “We have an opportunity on Amazon to showcase our brand, to grow reach, relevance and access -- and ultimately, the opportunity to bring new riders into our Harley-Davidson family”. In the statement, Harley-Davidson identified “the new generation” as a “key focus” for the company going forward. Dropping sales have caused its shares to go down 10 percent since January.


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When you find yourself in times of trouble, there's one site online that you can always turn to: Facebook. The social network of social networks is so widely used, a significant plurality of living human beings worldwide visit on a regular basis. But if you're spending too much time there, it may be time to figure out if something bigger is going on.
Psychologists in Germany have just released a study looking to why we spend so much time on Facebook. It's a common way to kill time at work, especially when you're avoiding something bigger. The researchers found that Facebook usage positively correlates with stress — that is, the more stressed out you are, the more time you spend scrolling through your newsfeed.
Video of the Day
We already know that one sign you're addicted to the internet is outsized irritability when you can't get online. Facebook has been engineered since its founding to suck up as much time and attention as possible; that's how it makes money, after all. But even though we rely on the site for legitimate reasons, like networking, as much as for snooping on old high school frenemies, we'd all probably be better off for stepping back.
It might take a lot to get us to quit, but between the hackers, the data-sharing, and the proposed cryptocurrency, our vicious cycle of stressing ourselves, this might be the straw that breaks the camel's back. You don't have to go cold turkey to see benefits. It's possible, in fact, that rationing your Facebook time could make you appreciate it even more.


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The Doha round of global free trade talks is dead, but Canada and dozens of countries are forging ahead with a deal to open up government purchases, worth as much $100-billion a year.
More than a decade in the making, the landmark World Trade Organization agreement opens access to potentially lucrative contracts for Canadian suppliers of transportation infrastructure, telecommunications and financial services, particularly at the subnational government level.
In exchange, Canada will allow foreign companies to bid on billions of dollars worth of purchases by Crown corporations and provincial governments.
"Concluding this negotiation for a new agreement is proof of the value of the multilateral trading system, and that the WTO is an effective vehicle to combat protectionism," International Trade Minister Ed Fast said in a statement issued in Geneva, where he's attending the first WTO ministerial meeting since 2010.
The 42 countries are expected to sign the deal by next April.
"This shows the WTO still has a heartbeat and a pulse," said trade lawyer Lawrence Herman of Cassels Brock in Toronto.
So far, the deal covers less than a third of the 153 WTO members. And for now, some of the largest emerging markets remain outside its scope, including all four BRIC countries – Brazil, Russia, India and China.
China's procurement market alone is estimated to be worth $100-billion. But it hasn't yet offered enough of that market to get in on the deal, although the United States indicated that may happen next year.
The United States, for example, is urging China to include state-owned enterprises, to add more subnational entities, and to lower the threshold for the size of covered contracts.
The deal provides a framework that paves the way for many more countries to join, said John Weekes, a former top trade negotiator and Canada's former WTO ambassador.
"The hope is that this is the first step to getting the BRICs in," Mr. Weekes explained.
The deal will make is easier for companies such as Montreal-based SNC Lavalin to compete for government contracts outside North America, Mr. Weekes added.
The WTO's flagship project – the Doha round – has "rolled over and is lying dead in the water," but the organization is still doing important work, he insisted. The WTO is becoming more active as a watchdog against protectionism, it's involved in a project to better understand integrated global supply chains, and countries continue to join, according to Mr. Weekes.
Under the procurement deal, countries agree to a common set of rules, and then strike separate "annexes" with individual countries, outlining specific purchases that are open to bidding by Canadian companies, and vice versa.
"Market access countries grant is dependent on what you get," Mr. Herman said.
Government procurement in most countries accounts for between 15 per cent and 20 per cent of gross domestic product, the WTO said. It's worth 17 per cent of GDP, or almost €2.1-trillion ($2.7-trillion) in the European Union and about 30 per cent of output, or $348-billion in 2008, in India.
Also in Geneva on Wednesday, Canada and a clutch of other WTO countries signed a pledge against protectionism, committing to not "raising new barriers to trade in goods and services, imposing new export restrictions, or implementing WTO-inconsistent measures in all areas, including those that stimulate exports." The United States, Japan, Chile, South Korea and the European Union also signed the pledge.
Earlier this week, China slapped anti-dumping duties of up to 21.5 per cent on U.S. cars in a tit-for-tat series of trade actions by both countries in recent months.


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Why your Home loan EMI may fall this year: Most of the people availing home loan have been troubled by the increase in their EMI in the last two and a half to three years. The reason is that the Reserve Bank of India (RBI) increased the repo rate i.e. policy interest rates by 2.5% between May 2022 and February 2023 to control inflation. During the last few years, when the inflation rate came under control, it was expected that RBI would probably start cutting the repo rate. But the Reserve Bank has dashed these hopes by not doing so in the latest review of monetary policy. In such a situation, the question arising in the minds of people paying home loan is when will their EMI reduce? How much longer will they have to wait for this? The good thing is that despite the repo rate not being cut, the possibility of your home loan interest rates and EMI decreasing during this calendar year has not ended. Let us know what is the reason for this.
Retail inflation softens
RBI had continuously increased the interest rates due to increasing inflation not only in India but all over the world. But now the situation has changed and the inflation rate is within the upper limit of 6% of the inflation tolerance zone of RBI. In December 2023, the retail inflation rate based on Consumer Price Index (CPI) was 5.7%. If prices remain under control, the Reserve Bank may consider reducing interest rates in the coming days. There is a strong possibility that this may be done after the Lok Sabha elections, because the government will not want to take any risk of increasing prices before the elections.
Also read: Bharat Ratna: Former Prime Minister Chaudhary Charan Singh, PV Narasimha Rao and scientist MS Swaminathan will get Bharat Ratna, PM Modi announced.
Core inflation at 2 year low
In terms of core inflation, the situation is even better than retail inflation. Core inflation came down to 3.9% in December 2023, which is the lowest level in two years. Experts believe that the retail inflation rate will also be in the range of 5 to 5.2% during the March quarter, while for the entire financial year 2023-24 it may remain around 5.4%. At the same time, it is also expected to remain in the range of 4.5% during the financial year 2024-25. In this situation, the stance of the Reserve Bank may change during the second quarter of the financial year 2024-25 and it may start a cycle of cutting interest rates.
Also read: LIC: Now this stock is multibagger, not sick, joins top 5 club with RIL-TCS
Fiscal deficit is under control
In the budget presented on 1 February 2024, the government has expressed confidence of limiting the fiscal deficit to 5.8% during the current financial year. Whereas the target was 5.9%. Similarly, the government has set a target of further reducing the fiscal deficit to 5.1% for the next financial year (2024-25). For this, the government has kept non-capital expenditure under control. Due to low fiscal deficit and non-capital expenditure of the government, the possibility of prices remaining under control will increase. Due to which RBI will have a great opportunity to reduce interest rates.
Also read: Investment Planning: Make the best investment plan like this, do not invest anywhere just for tax saving.
Interest rates are at their highest level
In the current situation, there are every reason to believe that interest rates are at their highest level (peak). Therefore, there are full chances of the reversal of the interest rate cycle going forward. This change can be seen from the second half of the current year. Some experts are even expecting a reversal of the rate cycle in the next meeting of the Monetary Policy Committee (MPC) of RBI to be held in April 2024. Even if that does not happen, there are full chances of it happening by the second quarter of the next financial year.
Also read: By investing Rs 1 lakh, it became Rs 1.58 crore! How did this top mutual fund do this amazing thing?
How much will be the benefit from reducing interest rates?
If you have taken a home loan of Rs 50 lakh for 20 years and the interest rate on it reduces from 8.50% to 8%, then with this decline of 0.5% you can save Rs 3.83 lakh. This will provide much-needed relief to old home loan borrowers, who have been troubled by the increase in their EMIs in the last 3 years.


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Detroit Pistons owner Karen Davidson says the sale of the team is going well and a new owner could be in place by the start of the NBA season.
Davidson didn't provide any great sound bites during an event with Pistons forward Jonas Jerebko to purchase supplies for Oakland County Schools, keeping her answers mostly to "yes."
Basically, the sale is progressing and there is a "front-runner" to buy the team. Detroit opens the season on Oct. 27, so for Davidson to say the sale could be done by then is a pretty good indication she has an idea who she wants to sell to. The speculation I'll leave up to you.


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Changes to the Personal Information Protection Act will become law on May 1. The changes include breach reporting and notification requirements, the first such law in Canada.
PIPA governs the collection, use and disclosure of personal information by businesses, and was amended by the Alberta Legislature in 2009. One of those amendments is mandatory breach notification, which means that organizations will be required to report to the Commissioner a privacy breach where there exists “a real risk of significant harm” to an individual.
Information and Privacy Commissioner Frank Work says breach reporting and notification is an important step forward in protecting personal information. “Now an organization has to report significant losses to my Office. I can then require notification of affected individuals. Our experience has been that most businesses already notify people affected by losses and we encourage this. This is not necessarily a matter of making businesses liable for losses of information; it is about warning people so that they can take precautions. Hopefully it will make businesses more aware of the need for reasonable security measures.”
Other changes of note include provisions regarding personal employee information and the retention of personal information. Organizations will also be required to notify people when they will be transferring personal information to a service provider outside of Canada. Time periods and offence provisions were also changed.


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Gasgoo Daily: NIO’s Vehicle Engineering business reportedly taken over by Executive Vice President Zhou Xin
With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.
NIO’s Vehicle Engineering business reportedly taken over by Executive Vice President Zhou Xin
Danilo Teobaldi has reportedly left his position as Vice President of Vehicle Engineering at NIO to become the chief vehicle engineer of NIO Europe. At the same time, Zhou Xin, NIO's executive vice president and chairman of the company's product committee, is said to take over the vehicle engineering operation of NIO, according to a local media outlet.
Photo credit: NIO
EVE Energy to build lithium iron phosphate cylindrical battery project in Yunnan Province
China’s battery maker EVE Energy announced on Jan. 19 that it intends to pour 5.5 billion yuan in building a lithium iron phosphate cylindrical energy storage & power battery project in Qujing city, Yunnan Province. The project will feature a designed production capacity of 23GWh.
Honda Accord PHEV to hit Chinese market in 2023
The all-new plug-in hybrid electric vehicle (PHEV) variant of the popular Honda Accord was recently included by a catalogue released by China’s Ministry of Industry and Information Technology. The vehicle will be installed with a 2.0L engine and electric motor, and expected to hit the Chinese market in 2023.
NIO Co., Ltd., an affiliated company of Chinese electric vehicle (EV) startup NIO Inc., has applied for the registration of the trademark "NIO PHONE", according to the corporate information inquiry platform Qichacha, a sign that NIO is preparing for the future launch of its smartphones.
On January 18, SAIC Volkswagen ("SAIC VW"), the joint venture between SAIC Motor and Volkswagen Group, saw its 26-millionth vehicle roll off the production line at the automaker’s new energy vehicle plant in Anting Town, Shanghai.
CATL (Shanghai) Intelligent Technology Co., Ltd. ("CATL Intelligent Tech"), a wholly-owned subsidiary of CATL, on Jan. 18 signed an agreement with the Management Committee of Yichun Economic & Technological Development Zone for a CIIC (CATL Integrated Intelligent Chassis) manufacturing project, according to a post on CATL's WeChat account.
Chinese motor vehicle manufacturer Lifan Technology announced on Wednesday it was anticipated to record an annual net profit attributable to shareholders of around 150 million yuan ($22.126 million) in 2022, which should surge 170% compared to the previous year.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:firstname.lastname@example.org Service:email@example.com


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Sony Interactive Entertainment appoints Hermen Hulst head of Worldwide Studios; Shuhei Yoshida leads new independent developer initiative
Sony Interactive Entertainment has announced the promotion of Guerrilla Games co-founder Hermen Hulst to head of Sony Interactive ...
8 days ago
The Washington Post:
His predecessor, Shuhei Yoshida, will oversee a newly formed division in the company focused on "nurturing external independent creators.”
With the PlayStation 5 due next year, PlayStation is no doubt keen to get its ducks in a row.
PlayStation Is 'Always Looking' for New First-Party Studios
Shuhei Yoshida speaks at E3 2013 | AFP via Getty Images Guerrilla Games’ Hermen Hulst promoted to new head of Worldwide Studios ...
Guerrilla Games boss Hermen Hulst is PlayStation's new head of Worldwide Studios (WWS). He takes over from Shawn Layden, who departed ...
The Guerrilla Games co-founder will be taking up the role of President of Worldwide Studios overseeing PlayStation's internal developers.
There’s definitely something going on behind the scenes at PlayStation. Recent departures include PlayStation boss Andrew House, SIE ...
Following the departure of chairman Shawn Layden, Sony has named Hermen Hulst, Guerilla Games' director and co-founder, as the new head ...
Sony Interactive Entertainment announced that Hermen Hulst, co-founder and managing director of Horizon Zero Dawn developer Guerrilla, ...
Welcome the new Sony's Worldwide Studios President!
Horizon Zero Dawn studio director now leads PlayStation branch
PlayStation's CEO on the globalisation of Sony Interactive Entertainment
Shuhei Yoshida will meanwhile be heading up a new indie-focused initiative.
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Sony to close optical drive manufacturing division as part of ongoing restructure
Thursday, August 30, 2012/
Sony has announced that it intends to close its Sony Optiarc optical drive manufacturing division by March 2013 as part of a broader restructure.
According to Tom’s Hardware, the division predominantly manufactures DVD burners, BluRay players and other optical drives for desktop PC manufacturers.
However, despite controlling around 15% of the market, the division has delivered losses due to tough competition and price pressures.
Sony is currently in the middle of a major restructure that will see 10,000 jobs cut, representing 6% of its global workforce. The restructuring was announced after Sony reported a record annual loss of $US6.4 billion.
The news comes after speculation emerged earlier this month that Apple might ditch optical drives in its next-generation iMac and Mac Pro devices, as consumers increasingly turn to high-speed broadband networks and cloud storage to store and transfer files.
Be honest about your situation: How vulnerability helps businesses thrive Sue Parker DARE Group founder
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Why you should find the right role for the right person — not the other way around Bruce Stronge Outfit founder


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By David South, Development Challenges, South-South Solutions
Meeting the South’s energy needs will be crucial to achieving radical improvements in quality of life and human development. It is estimated that 1.7 billion people around the world lack electricity (World Bank), of whom more than 500 million live in sub-Saharan Africa.
Africa’s greater global engagement and economic growth in the past few years has started to draw attention back to the continent’s dearth of reliable power sources and inadequate power infrastructure. With demand for electricity growing fast, it is people running small enterprises and organizations – especially in rural areas – who often get cut out.
Being able to see at night unleashes a vast range of possibilities, but for the very poor, lighting is often the most expensive household expense, soaking up 10 to 15 percent of income.
There’s a direct link between lighting and economic development. Each 1 per cent increase in available power will increase GDP by an estimated 2 to 3 per cent.
A reliable power supply helps people to work longer, important for small businesses, and this increases the amount of wealth that can be created. Lit streets are safer at night, and lure people outside to do business and seek entertainment. It makes it easier for students to study into the night, and in consequence improve their grades.
To take up this challenge, entrepreneurs are using different approaches across the South, to make solar power affordable and able to reach millions of poor people.
Marrying new lighting technology such as compact fluorescent light bulbs (CFLs) and light emitting diodes (LEDs) with solar power generation, opens up the possibility to bring clean, portable, durable, low cost, high quality lighting to Africa’s poor. These new lighting systems also come with huge health and safety benefits, compared to gas alternatives.
In Kenya, more than 80 percent of people lack access to the national grid and depend primarily on fossil fuels for their lighting needs, leading to respiratory diseases and environmental hazards associated with indoor air pollution.
Kenyan solar entrepreneur Charles Rioba of Kodesha Mwangaza – Rent a Light is impressed by the interest in solar power solutions. An expert in renewable technologies with 15 years’ experience teaching in universities, he “realized that to reach the lower end of the market, one had to design an affordable solution.”
“The biggest challenges faced are still affordability, and very little disposable income from the potential end users,” he said. “We are currently discussing with a number of micro institutions who have expressed interest on coming on board on rolling out the project.”
Rioba’s business provides rental solar-charged Powerpacks designed to make electricity affordable for the majority of urban poor, rural households and slum dwellers. The rental system allows the consumer to rent a fully charged Powerpack from designated distributors in the neighbourhood, without having to invest in an off-grid power source, such as a solar panel. The project will set up 100 distribution agents and 10 service centers for the Powerpacks to reach approximately 8,000 households within 18 months. In addition the Powerpack will be used for mobile charging and powering radios, and hopes to create a new market concept for portable electrical energy distribution among the poor in Kenya.
“My model targets to reach the lower end of the market,” Rioba said. “We are doing this by using existing businesses and groupings without creating new ones. We are also sourcing directly from the suppliers and we are working our project on numbers. In this way the margins are very low but aimed at achieving high usage hence return on investment.”
Rioba has just been awarded funding by the World Bank’s Lighting Africa initiative, which aims to provide up to 250 million people in sub-Saharan Africa with access to non-fossil fuel based, low cost, safe, and reliable lighting products and associated basic energy services by the year 2030. It uses equipment that can weather long-term use in remote and difficult areas, trains people to service the equipment, and comes up with commercially viable business models to make all of this affordable to the rural poor.
Rioba says that “for solar to be more attractive in Africa, there are a number of challenges. On the technology side, to make products which are both durable and affordable to the masses. Such new products such as LED lighting may ultimately reduce the size of the solar system and hence the cost.”
In Laos, the rental mode is also proving effective. Only 48 percent of the country’s 5.7 million people have access to electricity, and most turn to firewood and kerosene for light and energy. Over 74 percent of people live on less than US $2 a day and could not afford to buy a solar-power system outright.
The company Sunlabob rents solar-powered lanterns for prices beginning at 35,000 kip (US $3.80) per month, lower than the 36,000 to 60,000 kip (US $4.00 to US $6.60) per months households typically pay for kerosene fuel. After 10 hours’ use, the lanterns are recharged for a small fee from the village’s central solar-power collection facility. All fees go towards maintaining the central solar recharging station. The equipment is rented to a village-appointed Village Energy Committee, which sub-leases it to households at prices it sets. Rent covers all costs, including replacements and operational servicing costs. In the event of breakdowns, rent payments are suspended until repairs are made.
Sunlabob has installed over 5,600 solar power systems since 2000 in over 450 villages and is also working in Cambodia and Indonesia.
“Sunlabob really works well with local people,” says Bouathep Malaykham, head of the Lao Government Rural Electrification Program. “Because they are a private company they can make things happen quickly.”
In Bangladesh, more than 230,000 households are now using solar power systems thanks to the government’s Infrastructure Development Company Ltd. (IDCOL), giving rise to opportunities for a whole new generation of entrepreneurs to make use of this new power supply for the poor. IDCOL is run by the Ministry of Finance, and is on course to install 1 million Solar Household Systems (SHS) using solar panels by 2012. The Bangladeshi government is hoping to bring electricity to all its citizens by 2020 – meaning this is now a prime time for entrepreneurs specializing in providing energy efficient products to the poor.
The Executive Director of IDCOL, Ehsanl Haque, told a recent press conference: “SHS system, containing photo voltaic panels, battery, charge controller, solar lamp and switch, is a convenient mode for supply of power for small electrical loads such as lights, radio, cassette players and black and white TV.”
It doesn’t provide electricity 24 hours a day, but Haque says even with a few hours of electricity available each day, the rural economy is being transformed. “Now they are using SHS for income-generating activities and working hours have been increased for small businessmen, weavers, tailors, hairdressers, and makers of handicraft items.”
Among the many benefits of the electricity has been the ability to listen to radio and watch TV: an activity women reported made them feel safer at night.
Published: September 2008
- Lighting Africa: this website run by the World Bank is a virtual business community and has forums, market intelligence, access to grants, network and partnership opportunities.
- D.light Design is dedicated to bringing modern lighting and power to over 1.6 billion people globally currently living without electricity. They aim to be the number one player in off-grid lighting and power solutions worldwide.
- Solar Power Answers is a one-stop-shop for everything to do with solar power. It has a design manual and guides to the complex world of solar power equipment.
Development Challenges, South-South Solutions was launched as an e-newsletter in 2006 by UNDP’s South-South Cooperation Unit (now the United Nations Office for South-South Cooperation) based in New York, USA. It led on profiling the rise of the global South as an economic powerhouse and was one of the first regular publications to champion the global South’s innovators, entrepreneurs, and pioneers. It tracked the key trends that are now so profoundly reshaping how development is seen and done. This includes the rapid take-up of mobile phones and information technology in the global South (as profiled in the first issue of magazine Southern Innovator), the move to becoming a majority urban world, a growing global innovator culture, and the plethora of solutions being developed in the global South to tackle its problems and improve living conditions and boost human development. The success of the e-newsletter led to the launch of the magazine Southern Innovator.
This work is licensed under a
Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.
ORCID iD: https://orcid.org/0000-0001-5311-1052.
© David South Consulting 2022


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After what has been months of admiring the construction of the delightful new behemoth which has been springing up along NairobiÃ¢â‚¬â„¢s Mombasa Road, Toyota Kenya yesterday launched their brand new state-of-the-art showroom at the automobile firmÃ¢â‚¬â„¢s headquarters opposite the Nyayo National Stadium.
Boasting revitalised interiors which include functional and differentiated spaces for the used cars and new cars displays, a larger customer lounge and childrenÃ¢â‚¬â„¢s section, VIP meeting facilitates and an overall Ã¢â‚¬Ëœmore intimateÃ¢â‚¬â„¢ customer care experience, the new showroom meetÃ¢â‚¬â„¢s ToyotaÃ¢â‚¬â„¢s International construction guidelines and is set to reaffirm the countryÃ¢â‚¬â„¢s position as a premier auto-capital for not just Toyota but car manufacturers and dealers in general.
Ã¢â‚¬Å“Purchasing a car is a special moment; it is not something you do daily. So, we at Toyota would like to provide our customers with an overwhelming experience, as well as a consistent commitment to quality,Ã¢â‚¬Â Naoki Takeuchi, Managing Director Toyota Kenya said at the launch.
He went on: Ã¢â‚¬Å“The future of Kenya is promising especially with a growing young population, high education standards, a stable market and the government commitment towards Vision 2030. We would like to contribute to the development of Kenya through investment and provision of comprehensive automotive services.Ã¢â‚¬Â
In addition to the opening of the new showroom, Toyota Kenya also launched the Ã¢â‚¬ËœTunawashukuruÃ¢â‚¬â„¢ sales campaign. This will see customers who buy any new Toyota model receive one free year of maintenance service and what representatives say are some of the most attractive interest rates on purchases with flexible down payments and a structured monthly payment scheme.
Also in attendance during the showroom launch were Dr. Johannes Van Zyl, the Managing Officer of Toyota Motor Corporation and Mr. Sachio Yotsukura, the General Manager of Toyota Tsusho Corporation; both of who applauded Toyota Kenya for the iconic milestone.
Source : abdas.org


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ET Now reports that Foxconn, the largest manufacturer of iPhone for Apple, is exclusively going to set up a manufacturing plant in Maharashtra. The Chinese company is looking for a 1,200-acre of land to open the factory that will reportedly cost $10 billion to build.
Once the deal has been finalised, the factory will take around 18 months to be built and fully functional.
Apple has also been planning on opening its direct retail stores in India for which it recently received an approval from the Indian government panel. However, the company’s proposal to sell refurbished iPhones in India was rejected by the Indian government. Apple is also reportedly opening a research and development centre in Hyderabad for $25 million where it will employ 150 employees.
Apple has been rapidly expanding its operations in India over the last couple of years. While the market is still not as big as China for the Cupertino company, it still has a huge potential for growth here. By setting up a manufacturing plant in India, Foxconn will be able to take advantage of the Indian government’s ‘Make In India’ program that will entitle it to some benefits.
During its Q2, 2016 earnings call, Tim Cook had praised the Indian smartphone market and said that the economic reforms from the government have made it a “very good business environment.” He also noted that the company’s revenue in India grew by 38 percent, with iPhone sales growing by an astonishing 76 percent. This is remarkable since Apple noted a decline in iPhone sales across all the major markets of the world, including the United States and China in the same quarter.
[Via Economic Times]


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This story is part of the Transport Dive Outlook on 2021, a series on the trends that will shape the industry in 2021. For a look at the business trends affecting other industries, see the Dive Outlook on 2021.
Knowing which relatively new companies working in and for the trucking industry to keep an eye on in 2021 is a bit like separating the wheat from the chaff. So many exist in a wide variety of categories.
New services range from safety technology and driver retention, to operational efficiency and the continued goal to go paperless, said Brian Fielkow, CEO of Jetco Delivery. The total funding for logistics startups in 2019 ran around $6.3 billion worldwide, according to a McKinsey analysis.
When fleet managers read news about startups and consider partnering with them, they should look for words that inspire confidence in an investment, said John Esparza, president and CEO of the Texas Trucking Association.
"Have a conversation with them. Learn about their product and their company culture," Esparza said. "Research the founder’s background to see what successes and failures they’ve had along the way."
Once managers find a startup they think they'd like to partner with, Locomation CEO and co-founder Cetin Mericli recommended making sure firms see the benefit of their product or service.
"Try out the technology. See it, feel it and mingle with it," Mericli said.
"Try out the technology. See it, feel it and mingle with it."
CEO and co-founder of Locomation
Because there isn’t a universal definition of a "startup," Transport Dive set a few parameters of its own for startups to watch in 2021. The startup had to be located in North America, be less than 6 years old and have under $1 billion in funding, according to Crunchbase data.
Transport Dive asked trucking experts which innovative transport businesses they thought would make a mark. Couple the experts’ opinions with lots of research, and the results follow in no particular order.
Funding: $23 million | Launched: 2018
This company focuses on autonomous trucking solutions. Mericli said commercialization of its product — human-guided autonomous convoys — is right around the corner.
Locomation received its first purchase order from Wilson Logistics for about 1,100 autonomous technology kits, and Mericli reports those will be delivered and installed in the second half of 2022.
Autonomous trucks are expected to help alleviate the driver shortage, reduce downtime and improve fuel economy.
"We are able to optimize and reduce operating costs by 30% and at the same time increase a fleet’s overall safety," said Mericli.
Funding: $648.1 million | Launched: 2015
In July 2020, this autonomous trucking technology startup launched what it said is the world's first Autonomous Freight Network, making it possible for freight to move safely and reliably from point-to-point using self-driving trucks. The company will continue to expand the AFN in 2021 by adding new autonomous lanes and shipping partners.
TuSimple has partnered with Navistar to develop L4 autonomous trucks. The vehicles are expected to be available for the North American market in 2024, according to Jason Wallace, marketing director for TuSimple.
Funding: $40 million | Launched: 2018
Kodiak delivers freight daily between Dallas and Houston, autonomously on the middle-mile portion of the route.
"Kodiak’s experienced team has developed the industry’s most advanced technology stack, purpose-built especially for long-haul trucks," said Daniel Goff, head of policy at the company. "We are partnering with Fortune 100 shippers, carriers, fleets and freight brokers to build the future of freight."
Funding: $665.5 million | Launched: 2015
With a goal of fostering a more efficient and sustainable trucking industry for shippers and carriers, Convoy created Guaranteed Primary in 2020, which replaces traditional requests for proposal.
The company has accelerated programs that automate inefficient practices. These include automated lumper payments, dedicated freight offers in an app, an expanded digital freight network that includes cross-border freight with Canada, and a discount program.
Its TruckYeah Savings program gives carriers savings of up to $35,000.
Funding: $47 million | Launched: 2016
Founders Greg Price and Jason Traff knew there had to be a better way to strategize shipments than what was currently in use. So, they created an ecosystem that combines transportation management, visibility, and a partner network for mid-market and enterprise shippers in a cloud-based platform.
Through artificial intelligence and machine learning, Shipwell offers freight tracking and analytics that aim to improve efficiency and save companies and their customers millions of dollars in shipping costs.
"Since the pandemic began, companies' supply chains have become top of mind. They now realize that logistics operations are mission-critical rather than back-office drudgery," said Traff in an email.
Funding: $51.5 million | Launched: 2013
The Trucker Path app solves many inefficiencies and problems for drivers, including where to find a truck stop and available truck parking, and updating the status of routes.
Another product offering, Truckloads, helps brokers and carriers connect within their own private network.
Funding: $11 million | Launched: 2016
The founders, all Carnegie Mellon graduates, plan to make trucking safer.
This software-as-a-service company collects information on a company’s drivers so they can predict potential traffic accidents before they happen and avoid nuclear verdicts. The software also reduces insurance costs and decreases driver turnover.
Funding: blood, sweat and tears | To launch: 2021
Co-founder Susan Fall described Ten5 as an app-based interactive voice experience designed to create a closer connection between drivers and their employers.
"Drivers want more meaningful communication particularly during the first 90 days of employment, when they are most vulnerable to isolation and inclined to leave for another company," said Fall. "We’re providing a simple and effective way for them to stay connected and be less susceptible to leaving."
Each Ten5 ivex, a word coined by the founders, comes with clips that include everything from safety and health tips on the road to highway hero stories, she said.
Drivers also can get instant answers to job-related questions, and they can use the app to review and rank shipping and receiving facilities.
The first carriers are set to roll out with this app in the first quarter of 2021.
This story was updated to include Locomation's most recent funding.


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In a speedy show of consensus, the European Union’s three law-making institutions have agreed on new rules that will cut mobile-phone roaming charges for consumers.
Digital Agenda Commissioner Neelie Kroes put forward proposals for new caps on charges and on Wednesday announced that a preliminary deal had been agreed to with the European Parliament and the Council.
Although a formal vote must still be taken by the Parliament, the new agreement should come into force on July 1.
Under the new rules, the cost of a call would be no more than €0.29 (US$0.38) per minute to make and €0.08 per minute to receive. After July 2014, that would drop to €0.19 to call and €0.05 to receive. The cost of a text message between E.U. countries would be no more than €0.09, and €0.06 from July 2014.
The law would also cap retail data-roaming charges for the first time. The cost of downloading from the Internet on a mobile device in another E.U. country would be no more than €0.70 per megabyte from July and no more than €0.20 from July 2014.
These 2014 caps will remain in place until June 2017.
From July 2014, customers will also be able to choose a stand-alone roaming phone service without having to change their number. Each time customers cross a border, their phone will switch to their preferred roaming provider which they can choose at home or when they arrive. The Commission believes that this will drive down prices as customers shop around for the best deal.
On the operator side, virtual mobile providers, which do not have their own networks, will be able to access other operators’ networks at regulated wholesale prices from July 2012.
In short, it appears that Kroes is standing by her word to give customers a better deal following a public spat with Vodafone CEO Vittorio Colao in February. He claimed that caps on roaming charges would cost jobs, but she said she would not be threatened.
Follow Jennifer on Twitter at @BrusselsGeek or email tips and comments to firstname.lastname@example.org.


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PARIS: December 15, 2015. L'Autorité de la concurrence, France's Competition Authority (FCA) has fined 20 logistics companies and their trade association, L'Union des Entreprises de Transport et de Logistique de France (TLF), a total of €672 million for alleged price fixing between September 2004 and 2010.
In announcing its decision, the FCA claimed the companies met regularly at the TLF to agree prices they would charge their customers: "The discussions were secret and were not subject to any official record," it said, adding that "instead of playing its role of vigilance in compliance with competition rules, [the TLF was] actively involved in the organization of illicit trade and the protection of confidentiality."
The companies fined by the FCA are: Alloin, BMVirolle, Chronopost, Exapaq (now France DPD) Ciblex Dachser France, DHL Express France, FedEx Express France, Gefco, Geodis, GLS France, Heppner, Lambert and Valletta XP France, Norbert Dentressangle Distribution, Normatrans, Jewel-Schenker, TNT Express France, Transport Henri Ducros and Ziegler France.
Geodis topped the list of fines at over €196 million followed by Chronopost with €99 million and DHL Express France at €81 million.
In calculating penalties, the FCA said it had taken into account behavior duration, severity and the damage caused to the French economy - particularly SMEs which it said were the main "victims" of the alleged price fixing.
The TLF responded saying the fines, 10 years after the fact, were "particularly heavy" and didn't reflect the possible damage done to the market. It added that because of declining prices and revenue over the past 15 years, bankruptcies in the logistics sector have multiplied with more than 15,000 jobs lost.
Noting that large companies will be able to survive the fines and the two unnamed whistleblowers will gain a competitive advantage, the TLF concluded "SME's will come out very weakened [and] penalties imposed today will further exacerbate the structural crisis facing the industry."
In a statement, TNT said it had been ordered to pay €58 million for "alleged anti-competitive behaviour in the French parcel delivery sector". The company, which is due to merge with FedEx Corp. next year, said the case relates to activities that took place before 2010 and it had cooperated with the FCA to reach a settlement during the third quarter of 2014. TNT added it would review the merits of today's decision.
Kuehne + Nagel (K+N) has also responded to the FCA fine of the Alloin Group, a groupage operation it acquired in 2009. K+N said €31 million of the €32 million penalty (see table) is attributable to the period before it purchased Alloin: "Kuehne + Nagel dissociates itself from such business practises, has a comprehensive compliance programme in place, which is continuously improving, and has been cooperating with the French Competition Authority since 2010," it declared. The company added it is considering an appeal and possible action against the Alloin family, the previous owners.


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A Volvo badge and parking-assist camera on the grille of an automobile at a Volvo Cars AB dealership in Stockholm, Sweden, on Thursday, Aug. 19, 2021.
Mikael Sjoberg | Bloomberg | Getty Images
Volvo is recalling 460,769 older model cars worldwide due to faulty airbags that could be deadly in the event of a crash.
The problem occurs when the airbag is activated because of a crash. Fragments of the inflator inside the air bag may, in certain cases, project out and in worst case strike you, potentially resulting in serious injury or death, the company told U.S. safety regulators.
Volvo is aware of one rupture incident that resulted in a fatality due to the problem, according to documents filed with the National Highway Traffic Safety Administration.
The vehicles impacted are older-model Volvos. They include the 2001-2006 S80 and 2001-2009 S60. The vehicles were produced between May 2000 and March 2009.
More than half of the vehicles – 259,3838 – were sold in the U.S.
Volvo said the problem occurs over time if the airbag inflator propellant tablets are subjected to elevated moisture levels and frequent high inflator temperatures. The tablets can start to decay and form dust particles, which increases the pressure and “burn rate” of the devices. Those factors could cause the inflator to rupture and spray metal fragments at occupants.
“In the event of a crash where the driver airbag is activated, fragments of the inflator inside the air bag may, in certain cases, project out and in worst case strike you, potentially resulting in serious injury or death,” according to Volvo.
This is breaking news. Please check back for updates.


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The last twelve months have seen a sea change in politics. The UK voted to leave the European Union, the United States elected Donald Trump despite what the polls predicted; the Philippines elected hard-man Duterte as president, Turkey voted in a referendum to overhaul its constitution—and the list goes on.
And, as recently as two years ago, Greek bailouts caused consternation in Europe — with protests both in support of and in opposition to — yet when the next €86bn bailout installment was agreed at the beginning of May, the deal hardly got a headline. We’re now a week away from a UK General Election and President Trump has vowed to decide his, and by default America’s, position on the Paris Agreement. You can see why people are turning towards Bitcoin amongst financial turmoil.
With political upheaval introducing so much instability into financial markets, one could be forgiven for waxing nostalgic about the good old days of straightforward bailouts for Greece, GM, Bank of America, and Citigroup to name just a few.
From such volatility, it follows that investors and private citizens are keener than ever to have at least some of their assets in non-traditional financial investments, and Bitcoin and other cryptocurrencies have begun to fill that niche in a big way, either by design or through sheer luck.
Although Bitcoin’s value stuttered for much of its early years (it’s worth pointing out the cryptocurrency is at this point just shy of being a decade old) it has gone from strength to strength of late. As recently as late March of this year, the value of Bitcoin was just under $1000 USD, down from its then-peak of $1290 USD on 3 March.
April and May saw phenomenal growth in the value of Bitcoin and it reached an all-time high of $2900 USD just last week before losing about 200 in the following days, though still feeling comfortable in its new $2500+ home.
It’s little surprise that industry has started to take notice with more and more companies, from UK plumbers to US pizza restaurants and Belgian cafés, now accepting Bitcoin. Nor is its acceptance relegated to the forward-thinking private enterprises. Sizeable companies and multinationals such as chain retailers Sears and CVS accept the cryptocurrency as well as supermarket Whole Foods and sandwich chain Subway. And as early as late 2014, the Republican Party of Louisiana began accepting party donations in Bitcoin. The 118-year-old big box department store K-mart is another company happy to trade in Bitcoin.
Although large retailers like Target might stand to expand their market share by accepting Bitcoin (they do), it’s online industries as opposed to bricks-and-mortar storefronts that are the most adroit at adapting new technologies.
For example, casinos and the world of online bingo are two markets poised for tremendous gains. While gamers can already easily sign up to play bingo with companies like Sun Bingo, for example, Bitcoin could revolutionize the industry. The fact that Bitcoin transactions do not require an intermediary such as a bank in traditional online transactions means that it would be possible for players to buy in or cash out rapidly. Bitcoin’s built-in blockchain feature, which effectively renders forgery impossible, also has obvious advantages for anyone concerned with security. At the moment Sun Bingo accepts most major credit cards and by using Skrill (formerly Moneybookers), customers can convert Bitcoin to US dollars, for example.
Beyond that, the notion of cryptocurrencies as something of a “backup currency,” a sort of bulwark against political and economic tumult in traditional currencies like the euro, dollar, or yen, for example, is an attractive selling point. In an increasingly interconnected and globalized economy, the appeal of a universal currency is profound.
Not dissimilar to online industry, travel is a market that in recent decades has had to evolve rapidly to meet new customer demands. Flag carrier LOT Polish Airlines recently began accepting Bitcoin, following suit with airBaltic who became the first airline to accept the cryptocurrency in July of 2014. For companies that by definition do business in multiple countries, like airlines, a currency that is independent of national politics could prove to be a liberating boon.
Despite its international appeal, which is indeed growing, Bitcoin is hardly likely to replace currencies like the dollar or euro as a reserve currency any time soon. However, with its current hefty value Bitcoin seems highly unlikely to vanish overnight and with more and more companies accepting it, the possibility of its value continuing to grow seems probable especially with all this financial turmoil.


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Car companies are already releasing teasers for their 2013 Super Bowl commercials.
The Corvette was revealed in New York City to the press earlier this week. Here are the pictures.
The minivan is back in all of its sliding door glory. At the 2012 North American International Auto Show in Detroit, Chrysler unveiled a futuristic minivan that was so unexpected, it even surprised the Chrysler communication staff according to The Car Connection.


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Construction crews are laying of sewer and fire lines, domestic water lines and the exterior surrounding block property wall at Las Vegas Centennial Subaru dealership, which will open in November.
Lexus of Henderson is offering customers $20 off their service bill if they bring in two pet items for donation to the Henderson animal shelter.
Towbin Auto Group teamed up with Iced Out Barber Shop during the holiday season to provide toys to children of Southern Nevada.
During a 2,789-mile journey spanning 13 states and 26 promotional stops, one of which was at Towbin Kia in the Valley Automall, Kia America presented the 2022 Numerals to New York City for the Times Square ball drop on New Year’s Eve. Towbin Kia capitalized on the tour stop by launching its own Electric Vehicle Education Center at its dealership.
Serving the Las Vegas Valley since 2000, Team Lincoln features a 5,000-square-foot showroom, cafe and complete service department.
Second-floor shoring is nearing completion at Centennial Subaru, Las Vegas’ newest automotive dealership. It is under construction at Centennial Center Boulevard and U.S. Highway 95.
Johnny Legends Mitsubishi is partnering with KSNV-News 3 and The Salvation Army Southern Nevada to help collect items that make a difference in Las Vegas. The dealership will serve as a drop-off location for The Salvation Army Southern Nevada Toy and Food Drive this holiday season.
Findlay Volvo Cars Las Vegas opened its doors at its new location, 6385 Roy Horn Way, Nov. 15. The move places the dealership right next to other Findlay stores.
Lexus of Las Vegas and Lexus of Henderson are doing their part to reduce food insecurity in Southern Nevada, donating $10,000 to Three Square Food Bank.
Lexus of Las Vegas and Lexus of Henderson are hosting a toy drive this holiday season to benefit Families for Effective Autism Treatment.
For the past three years, Chapman Dodge Chrysler Jeep and Ram has sponsored the Elite Youth Aerobic Gymnastic team and played a key role in their successful rise to become the top team representing America in international competitions.
CardinaleWay Mazda recently hosted its inaugural “Mazda Car Meet-Up” to showcase the brand, attract Mazda owners and connect with the local community.
Findlay Automotive CFO Tyler Corder was named Best Buddies’ Champion of the Year, along with his mission partner Michelle Desrochers of Findlay Toyota. Tyler and his fundraising team set an all-time national record by raising $231,206 for Best Buddies International.
The Ascent Automotive Group broke ground in October on Centennial Subaru at the corner of Centennial Center Boulevard and the U.S. Highway 95 ramp in northwest Las Vegas. The dealership will open in November 2022.
Findlay Automotive’s Burton Hughes of Subaru of Las Vegas was honored with the prestigious Great Friend to Kids Award at the Discovery Children’s Museum annual gala, The Magic of Discovery.


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Top stories in today’s VentureWire:
BlueRun Ventures is raising a new $150 million fund, VentureWire has learned, with plans to advance the strategy that led to successful sales of portfolio companies Waze Inc. and Topsy Labs Inc. this year. BlueRun will use the new fund, which it hopes to close in the first quarter of 2014, to back more early-stage U.S. startups built around the use of real-time data generated by smartphones.
Just Fabulous Inc. just keeps raising more money, pulling in another $15 million at a valuation north of $500 million, VentureWire has learned. The fresh infusion–disclosed in a regulatory filing–comes just a few months after the subscription fashion service acquired its largest competitor and raised a round to bankroll expansion across Europe and Asia.
Also in today’s VentureWire, Despite the hype around cloud computing, file-sharing and synchronization company Egnyte Inc. bets there will always be some information that companies want to keep out of the cloud. Now Egnyte has raised another $29.5 million on that bet as it moves toward a possible IPO in 2015…Invitae Corp., a clinical-diagnostics company led by former Genomic Health Inc. Chief Executive Randy Scott, has raised $40 million to speed its development of genetic tests for hereditary conditions…and Antimicrobial garment maker Vestagen Technical Textiles Inc. says it has raised a Series A add-on of $7.3 million to beef up its staff and continue with its plan to get the Food and Drug Administration to approve its clothing as an actual medical device.
(VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)
Elsewhere around the Web:
A group of Boston entrepreneurs and investors is staging an impromptu event today in response to a “pay-to-pitch” conference that charges attendees for access to venture investors, the Boston Globe reports. YoungStartup Ventures has been holding its paid events in the Boston area for a while, but this time it has drawn the ire of members of the startup community who are holding Unpitch Boston in Cambridge’s Kendall Square.
Wall Street Journal blog Tech Europe considers the effect of political protests in Ukraine on the country’s entrepreneurs. Kiev, parts of which are occupied by protesters, last week hosted a startup conference.