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Flexibility, clear communication and the need to strengthen relationships and partnerships were some of the key take-outs from Nielsen Sports’ first annual ‘Sponsorship Outlook Report’ carried out in South Africa.
This follows research conducted by the local arm of the global player in sports intelligence and measurement. This research involved engaging a healthy sample of senior leaders representing the rights-holder, brand and agency sectors within the South African sports and entertainment sponsorship industry.
“In 2020, with an ever-changing media landscape and the growing impact of social media and digital, and on the heels of a global pandemic, it’s important to have a clear view of the sponsorship industry and its challenges,” says Jean Willers, Managing Director of Nielsen Sports South Africa. “This report provides a snapshot of the sponsorship industry, focusing on current and potential challenges, and the concerns of key stakeholders. The results are revealing, to say the least.”
According to the ‘Sponsorship Outlook Report’, current sponsorship category spend in South Africa is focused approximately 64% on sport and less than 1% on esports/gaming.
Further, the corporate brands polled indicated that close to 60% of their total annual sponsorship spend was allocated to rights fees, with roughly 30% allocated to leveraging/activation, and 4% spent on evaluation and research.
“This means that brands are spending only 50c on leverage against every Rand spent against rights fees, which is significantly lower than we see in most global markets,” says Willers.
Looking ahead, and unsurprisingly, in the wake of the COVID-19 pandemic and resulting impact on spend in the market, those corporate organisations projected an estimated 46% decrease in their investment/spend in sports sponsorships in their next financial year.
“Interestingly, those corporates also pointed to an estimated 62% increase in their investment/spend in esports/gaming sponsorships in the same period, but this is off a very low base” says Willers.
Taking a step back to evaluate sponsorships as a whole and the approach of corporate brands when assessing sponsorships, Nielsen Sport South Africa’s research revealed that the three most important rights elements for these brands are:
- digital and social integration opportunities: 95%
- media coverage (not broadcast opportunities): 89%
- flexibility of benefits throughout the contract: 84%
“Whilst our research shows that brands and rights-holders agree on the importance of digital and social integration opportunities, there does appear to be a disconnect regarding the leveraging of sponsorships and the flexibility of benefits,” says Willers. “Whilst the rights-holders polled clearly place great value on the opportunities to leverage around an event and mass reach (relevance to a broad target market), the brands rate flexibility of benefits throughout the contract as third most important, versus the rights-holder view, which has this element down in 10th position.”
Another interesting takeout was the brand/sponsor view on the factors they regard as ‘most important’ when evaluating/reviewing the performance of their existing sponsorship properties. The results were as follows:
- sales impact
- brand impact metrics
- brand exposure
- direct revenue
- brand advocacy
So, what about the short-term future of sponsorship in South Africa and what is the view of the country’s rights-holders, brands and agencies, as it relates to how long they feel it will take for the sponsorship industry to recover from the impact of COVID-19, once play resumes and venues are re-opened?
Again, the results are revealing, with 48% of the industry indicating they believe it will take longer than 12 months.
It’s clear that uncertainty remains the single biggest challenge facing brands/sponsors, as a direct result of the COVID-19 pandemic. That’s with the sponsorship industry as a whole predicting a time frame of more than a year for the industry to recover, after play resumes and venues re-open.
“With this in mind, it’s clearly critical for rights-holders to address the guaranteed delivery of a flexible set of rights in the interim,” says Willers.
That, however, according to Willers, can only be achieved if there is clear communication between brands and rights-holders, and the partnerships that exist in the South African sponsorship space are strengthened by the recognition that the environment has evolved and the needs of the various parties have changed.
Nielsen Sports South Africa represents all the major players – brands, rights-holders and agencies – in the sponsorship industry and the goal of the first annual ‘Sponsorship Outlook Report’, says Willers, was to drive greater mutual success in the industry by ventilating some of the key issues and strengths, as well as identifying opportunities for improvement.
For a copy of the summary report of Nielsen Sport SA’s ‘Sponsorship Outlook Report’, contact Jean Willers at email@example.com or on 082 49 44 083.


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Support the news
By Larry Abramson (NPR)
Lenders, worried that borrowers may soon be out of work and unable to pay, are cutting the limits on credit cards. But consumers are fuming because the lower limits can hurt their credit ratings.
Texas-based flight attendant Lilli Durbin used to have six credit cards, which is fairly typical for this country. She couldn't pay them off, but she says she always played by the rules: "Always paid more than my minimum balance, always paid it a week or two in advance."
Nevertheless, Durbin was notified late last year that the bank behind two of those cards was going to drop her credit limit — from about $10,000 to $4,000 for each card. That was right around the average balance she'd been holding. She called the bank to fight the decision and she didn't mince words.
"I said, you know, just because you guys screwed up with mortgages, don't go and take it out on people ... that have been good."
The bank didn't budge. Durbin was particularly upset that the change meant her credit score would drop, because her balance was suddenly bumping up against her credit limit. She feared that might complicate her effort to refinance her house.
Banks Gauging Risk Of Lending
This tale of woe is pretty common. Most lenders told the Federal Reserve in the most recent survey they are tightening polices for credit cards and other consumer loans.
Why would lenders pick on conscientious borrowers like Durbin? Well, right now it's not so easy to tell the good risks from the bad.
"This is the problem with unemployment that doesn't seem to be abating," says David Robertson, publisher of the Nilson Report, a trade journal for the credit card industry. He says companies are poring over unemployment and foreclosure reports, trying to predict which borrowers in which parts of the country will run into trouble in the near future.
"They're trying to determine who the customers might be who today look perfectly good — able to pay their bills — but 60 days from now will unfortunately be out of work," Robertson says.
So, upstanding, bill-paying citizens might face a precipitous plunge in their credit card limit because of something that hasn't even happened yet.
Nessa Feddis of the American Bankers Association says there's another force at work: Lenders are still having a hard time raising money from investors, so they have less money available for consumers to borrow.
"Because of the increased risk that the loans won't be repaid, the investors are either demanding to be paid more for the increased risk or they're not lending money at all," she says.
Watching Your Credit Score
Banks are not required to give any advance notice if they lower your credit limit, though many do. When the ax does fall, consumers do have some recourse. They can simply jump ship and find another card — low-rate offers still inundate the nation's mailboxes.
But Leslie McFadden of the Web site Bankrate.com says your credit score may suffer if you switch cards too often.
"How much it affects your credit depends on a number of things, including for how long you've had credit," she says. "So if you only have a very thin [credit] file, the effect could be larger."
You could do what Durbin, the flight attendant, did.
"You might as well refinance your house and get the money, pay off the credit cards and cut them up," she says.
Whether it's because of frustration, or a drop in income, consumers are turning away from credit cards. The Federal Reserve said Tuesday that credit card borrowing dropped by nearly 10 percent in February. Bills to improve protections for credit card users are moving through both houses of Congress.
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Manchester headquartered social media marketing company It’s Gone Viral has acquired Happiest Media Ltd for an undisclosed sum.
The deal is the latest addition to the growing number of social media brands owned by the firm, including pet related social page Go Fetch.
Founded in 2016, Happiest provides entertaining and uplifting content and real life stories to its nearly 3m followers across Facebook, Instagram and Twitter.
Also founded in 2016, It’s Gone Viral was founded by Matthew Thomas, Andrew Trotman and Ryan Williams.
“Happiest Media has a really strong emphasis on wellbeing and promoting inspiring stories which fits perfectly with our core values as a business,” said Trotman.
“Social media is often criticised for the harm it does, but it can also play an integral role in making people feel good about themselves. Happiest Media is all about doing just that so makes it the perfect fit for the It’s Gone Viral stable.”
It’s Gone Viral’s reach and viewing figures for the past year stand at 12 billion impressions. It now has over 6 million followers across its Facebook, Instagram, YouTube, Twitter, Tik Tok and LinkedIn accounts.
Its team of content creators, analysts and video producers make and then distribute video content and viral campaign adverts for international brands such as BBC Films, O2, Universal, Bud Light and Disney across its Facebook, YouTube, Twitter and LinkedIn accounts.


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JOSÉMIA JOHNNSON & CO. has announced new jewelry lines.
The new lines will focus on a few different categories of jewelry, including a new line for women that includes jacquard bracelets and earrings, and a line for men that will include a bracelet that includes a gold and platinum cuff link, and an earring that features a gold band that opens to reveal a gold chain.
All the jewelry in the new line will retail for $200.
The company says it is also launching an online store for the new jewelry, and that all the jewelry will ship via UPS.
The company also says it will be adding new types of jewelry for men to its lineup over time.
It also says its new line of earrings will include an embossed gold chain, which will be available for a one-time fee.
It says it plans to expand its earrings offerings over time with more unique styles.
The announcement of new jewelry comes at a time when some women are wearing jacquards as bracelets or earrings.
They have been popular with men for a while, and many men are now starting to wear them in their jewelry as well.JOSÉ MURRIETA and MARY JO MARZONE have been the two women to make the jewelry a signature of their jewelry line.
Both are very well known for their jewelry, which is often embellished with jacquas or other gems.JOSEPH JOHNHNSON is famous for his trademark jewelry.
The brand has been in the fashion industry for decades, but the brand’s roots are in the jewellery industry.
The most well-known of his designs are the jacquart bracelets, which are designed to be worn in conjunction with a bracelet or earring.
The brand also released a new jewelry collection called the “Sophie Collection.”
This collection features a bracelet, earrings and bracelets that are all hand-woven.


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An industry in change
When the economy shifts from a traditional banking structure to a digital, decentralized structure, what will happen to the banks?
In the report Banking Global Annual Review 2019 from the consulting firm McKinsey, which was written before the Corona crisis, describes how the global lending rate has slowed and not followed GDP growth.
The banking sector is often described as an industry in crisis with consumer credit, mortgages, lending to SMEs, mass payments and competitive asset management. In addition, financial advice will increasingly be handled by robots powered by algorithms and we will see a world where new financial data analyzes will be launched on the market.
Profitability in the Swedish banking sector is high in comparison with the European banks, but their earnings largely consist of net interest income and net commissions. The historically low interest rates mean that the banks will eventually be forced to raise their fees.
How many visitors do the Swedish banks have each month?
The traffic to the banks varies greatly between the Swedish banks. In Sweden, we have four major banks, but on the list of number of visitors, it can be seen that Avanza has the second most visitors and has taken an increasing digital market share over the past year.
Swedbank has the most unique visitors, followed by Avanza.
Avanza's organic development has increased by 11% during the Corona crisis, while the other banks' organic visibility has been more constant.
Picture the organic development from March 2020 to March 2021. Avanza also spends more on advertising and the number of paid keywords compared to competitors.
Users' behavior on banking sites
The traffic to the websites
It is clear to see that the direct traffic to Avanza is significantly greater, which indicates that they have a strong brand, ie the users do not do a Google search on Avanza but they visit the site directly.
It is also possible to see from which sources you visited before you visited the banks and where you go next. Direct traffic accounts for a very large proportion of visitors and it varies between the sites where you go next.
The digital channel organic search, ie using Google before visiting the site, works more efficiently for Avanza. If you compare the visibility index, it is much larger at Avanza than the traditional commercial banks. In total, Avanza appears in the search results of 80,810 keywords.
Searches for banks' company names on Google
In Google, we searched the brand searches for banks' company names over the past 12 months. With this survey, Swedbank is the bank that most people apply to, but during this year, 18% fewer searches were made on the term Swedbank. In second place is Nordea, where the decline is even greater and with a 33% decline. Avanza shares second place with Nordea.
|Keywords||Average search volume||Search volume February 2021||Trend|
|Swedbank||1 830 000||1 500 000||-18|
|Nordea||1 000 000||823 000||-33|
|Advance||673 000||823 000||0|
|Commercial banks||673 000||673 000||0|
|SEB||450 000||450 000||0|
The competition from Fintech companies
The Internet has fundamentally changed the banks' customer meetings and before the IT boom, customers were often forced to visit the offices physically to carry out their banking business.
Customers' needs and behaviors have changed radically in the new cashless society where it has become increasingly common for customers to manage their finances online.
The new financial technology companies are a global phenomenon. Digitization can change entire industries, not least in the banking sector where technological innovation is a driving force for change in both technology and digital marketing. The established banks have at the same time been employed with a legacy with older systems at the same time as the industry has received new regulations and regulations.
Several of the new fast-moving Fintech companies are innovative and they are relatively new to the market and they have with varying success niched themselves in completely new business areas.
The innovative companies have the greatest impact where they can use a technical platform that supports the business model in an effective way and they are characterized by easy-to-use services where it is possible to achieve a high conversion rate.
- Mass payments - The market for international digital payments is growing and we are seeing new payment solutions via mobile and digital through Apple Pay, Paypal, AliPay. In Sweden we also have Izettle and of course Swish.
- Blockchains and cryptocurrencies - Bitcoin is the most well-known digital cryptocurrency, but there are many more uses for the new blockchain technology.
- Digital Wallets - is used, among other things, to buy bitcoin.
- Digital currencies
- Direct payments and online payments and decentralized payment systems such as peer-to-peer transfers. Examples of companies Klarna, AliPay, Google Wallet, Payex
- Consumer loans and peer-to-peer loans from players such as Advisa, Lendo and Lendlink.
- Digital loans: lending to small and medium-sized enterprises SME market as well as crowdfunding and digital marketplaces such as Toborrow
- Wealth management and private banking can change through social media and automation examples of companies are Nutmeg, OurCrowd
- Invoicing services as Fakturino (Bonniers) and Fakturabörsen (Schibstedt)
- Fund company
- Daytrading platforms
In addition to the above banking services, new fintech services will be developed in various areas such as debt collection operations, insurance and stock trading, which are excellent for automating and developing online.
We believe that the price of bitcoin and digital assets will only continue to increase as inflation affects other asset classes. More and more banks and investors want to put some of their assets in digital assets and Bitcoin has become a safe haven instead of the traditional gold. The threat is that central banks jointly regulate the crypto markets with legislation - but that threat decreases as more people invest in Bitcoin and blockchain technology.
How can banks compete effectively against fast-moving Fintech companies?
The big challenge for the banks will be to respond to the increased competition while at the same time wishing to retain their customer base. If customers receive better service with another player, it is very likely that they will change service.
Those who work with digital innovation must convince business managers and not least management. Then they must be technically able to implement the new ideas in an extremely technical environment that is enormously complicated with legacy, ie old systems that also contain several levels of security layers.
The competitors, who are entrepreneurs, use the latest technology with simple and fast tools where they do not have to take into account existing technology and office policy. In a startup, there are few decision-makers and they work agile. The decision-making process is not complicated and they run, which means that they can be significantly faster and more agile than the established players who need to be recast from scratch.
The importance of a digital strategy for banks
The difficulty with the old banks is that they have a legacy with old IT systems. A digital strategy means that banks must change processes, commitments, digital competence in the boardroom and management and adopt new business models through digital competition monitoring. It needs to exchange skills with specialist competence.
It is inevitable that more and more banking services will eventually be digitized.
The new services that succeed in the market will be user-friendly, extremely search engine optimized and adapted for digital marketing with different types of digital advertising.
Banks must set up parallel strategies for new business.
While they need to improve and strengthen their current sites, we believe they need to set up parallel strategies. It is easier for banks to initially set up small units or tribes who are commissioned to work freely in each segment where they face digital competition.
Every such device needs a handful of web developers, a web analyst, a digital marketer who knows SEO and Google Ads as well as a business manager.
Lecture on the digitalisation of banks
We gave a lecture at Finansförbundet in September 2016 about new technologies such as PS2 and blockchain (bitcoin) and search engine optimization at the big banks.


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Mike Cantlay, chairman of VisitScotland, said that Edinburgh has an opportunity in 2011 to overtake struggling rival cities like Dublin that have been hit hard by the recession.
And he called on the Destination Edinburgh Marketing Alliance (DEMA) - the main body now responsible for promoting the city - to maintain the amount it spends on marketing. But the organisation is expected to face 11 per cent cuts to core funding from the city council in each of the next three years.
Mr Cantlay, who took over the post of chairman of the national tourism agency earlier this year, said that investment in tourism could help drive Edinburgh's recovery from the recession.
His comments came after a new analysis of tourism data showed that hotels have enjoyed a strong year despite pressures like the ash cloud and bad weather, which both led to Edinburgh Airport being closed.
He said: "Our 'guerilla' marketing campaign (a series of campaigns designed to take advantage of uncertainty among tourists this summer) had a return of 20 for every 1 spent and a 20-1 return is the minimum we expect from any marketing activity.
"If you want to stimulate the economy, where would you get a better return?
"We all need to keep the foot down in terms of marketing spend and be confident because it will help drive economic recovery.
"VisitScotland (faces] a budget cut but I am still hoping we can maintain marketing spend through efficiencies."
New data compiled by VisitScotland today showed that hotel occupancy was up on last year in all but two months so far this year.
In the 2009/10 financial year, sales of the tourist smart card 'Edinburgh Pass' also soared by a third on 2008/09, to 12,500 sales.
Visits to the Princes Street visitor information centre declined by 1.1 per cent, to 406,673. However, it is thought that the decline could be down to the growth of use of the internet and mobile phone applications by visitors.
The business case for Marketing Edinburgh, which is currently being formed by the merger of DEMA, Edinburgh Film Focus and the Edinburgh Convention Bureau, states that, while total council funding is expected to decline by 37 per cent to 1 million over the next three years, total funding is forecast to rise from 3m next year to 5m in 2013/14 because of increased private-sector contributions.


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Common Bond's quest to serve macarons and croissants to every part of Houston recently took another step forward. In the past few days, the growing restaurant opened two new locations of its quick service concept, Common Bond On-The-Go, at the San Felipe Place office building in River Oaks and in Midtown at the Drewery Place luxury high-rise.
First introduced last year in The Heights, Common Bond On-The-Go slims down the offerings served at the larger bistro locations to a core menu of items that can be delivered quickly such as breads, sweets, and pastries along with savory items like sandwiches and salads. The two new locations are the third and fourth On-The-Gos to open this year, joining outposts in Garden Oaks and Spring Branch.
On the sweet side, expect all of Common Bond's signature items such as croissants and other viennoiserie like kouign-amann along with cookies, macarons, and small cakes. Savory items include croissant sandwiches, salads and a roast beef po' boy. Beverage choices include a full coffee program — making it a compelling alternative to national chains — as well as wine and beer.
The River Oaks location (2229 San Felipe St.) occupies the former Rossini Caffè Italiano that was once slated to be home to a healthy eating concept from Brasserie 19 owners Clark Cooper Concepts. Open Monday through Friday from 7 am-6 pm, it will serve tenants such as the Kinder Foundation and area residents including River Oaks Elementary parents looking for a quick bite after carpool drop off. Those looking to satisfy a Common Bond craving on the weekends will take comfort in knowing that the Montrose bistro location is only about a mile away.
“Common Bond is excited to continue to expand our roots in the heart of Houston,” owner George Joseph said in a statement. “We’re proud to call San Felipe Place our new home and look forward to growing our team and Common Bond’s presence in our hometown.”
Midtown's location (2850 Fannin St.) joins Kanau Sushi and Earthcraft Juicery in the 27-story tower. It offers 2,000-square-feet of interior space along with a patio that has a view of Midtown Park. Its open daily from 7 am-6 pm.
"Our team wanted to find a dining option that offered high-quality food for those who may be running to their next appointment, as many of our residents are full-time doctors, nurses and lawyers," Emma Alexander, acting COO of Drewery Place developer Caydon USA, said in a release. "We noticed a rise of the ‘grab-and-go’ trend and strategically partnered with the local favorite, Common Bond On-TheGo, to offer quick dining options with fresh food and locally sourced ingredients.”
Common Bond has had a busy 2021. In addition to four new On-The-Gos, the restaurant recently opened its elevated brasserie location in downtown's Bank of America tower. In 2022, it will add another On-The-Go in The Ion mixed-use development.


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Dutch retail giant Ahold has cut the forecasts for its retail operations in 2006, reporting lower-than-expected results for the fourth quarter and for fiscal 2005.
Net profit fell by 82% for 2005 to EUR159m (US$190m), while net sales for the full year remained more or less stable at EUR44.50bn against EUR44.61bn in 2004.
For the fourth quarter, Ahold posted an 85% fall in net profit to EUR113m compared with EUR758m in 2004. The lower-than-expected results were attributed to tough competition and higher costs and Ahold said it would be reviewing under-performing operations.
Operating profit for the quarter reached EUR292m, including EUR92m in insurance proceeds, against EUR257m in the corresponding quarter last year. Sales in the fourth quarter rose by just 0.3% to EUR10.83bn.
“2005 has been a difficult year with mixed performance in our key business areas,” said Ahold’s president and CEO Anders Moberg. “We continue to experience strong competitive pressures in our retail operations, with considerable challenges at the Stop & Shop/Giant-Landover Arena. Tops (in particular in northeast Ohio) and the Central Europe Arena continue to underperform.
“On the other hand, our repositioning programmes at Albert Heijn and ICA have resulted in strong market leadership and growth, and we launched our long-term strategy to drive the profitable growth of US Foodservice. In addition, we achieved a number of important strategic milestones, most importantly the preliminary court approval of our settlement of the securities class action and the conclusion of our EUR3.1bn divestment programme, enabling us now to focus fully on managing our businesses for the future.”
Momberg added that financial targets originally set for retail in 2003 had become “increasingly challenging”. The company has reduced its retail net sales growth forecast for 2006 to between 2.5% and 3.0% (at constant exchange rates, and excluding divestments made in 2005). In addition, it expects retail operating margins will be between 4.0% and 4.5% in 2006. It had previously forecast an operating margin of 5% for this year. However, Ahold added that its US Foodservice targets remain unchanged.


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Study: Popularity of retail medicine soars
Retail medicine is hot.
A new study by University of Pittsburgh researchers found that the number of pharmacy and grocery story clinics quadrupled to almost 1,200 between 2007 and 2010 while visits to clinics spiked an average of 102 percent annually to 5.97 million visits in 2009. The study focused on MinuteClinic, TakeCare and LittleClinic, which operate 81 percent of the retail clinics nationwide.
And the retail clinic idea has been gaining popularity among older people.
When compared to 2000 to 2006, the study found that people age 65 and older were more likely to be retail clinic patients from 2007 to 2009. Preventive care – in particular flu vaccines – increased at the clinics between 2007 and 2009, according to the study, which appeared in the online edition of Health Affairs on Wednesday.
Conducting the study were University of Pittsburgh Associate Professor Dr. Ateev Mehrotra, who is in the Division of General Internal Medicine, and Judith Lave, a professor of health economics in the Department of Health Policy.
The issue is especially important in western Pennsylvania where two health systems have opened retail clinics of their own as a way to improve patient access to medical care while two others dropped extended-hour clinic plans after a test drive. Heritage Valley Health System in Beaver has six clinics, including ones in Wal-Mart stores, and Monongahela Valley Hospital opened a clinic in a grocery store last year.
Excela Health tried out extended-hour clinics and Jefferson Regional Medical Center opened clinics in two Wal-Marts, but both health systems had abandoned the effort by the end of last year.
Kris Mamula covers health care, insurance and employee benefits for the Pittsburgh Business Times. Contact him at email@example.com or 412-208-3825.
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Diet Coke celebrates its 30th anniversary
By John Reynolds, marketingmagazine.co.uk, Wednesday, 16 January 2013 12:14PM
Diet Coke celebrates its 30th anniversary in the UK and Europe this year and is to put the occasion at the heart of its marketing, in order to engage with its core female target audience in the aftermath of the Olympic Games.
Diet Coke was launched in 1982 in the US, and in the UK and Europe the following year.
In the US, the brand organised celebrations last year, including experiential activity involving guerrilla gangs of brand ambassadors throwing 30-second street parties for Diet Coke drinkers.
A similar level of activity is planned for the UK and Europe this year.
Here Marketing looks at some of Diet Coke's most memorable campaigns and iconic cans.Follow @JohnReynolds10
This article was first published on marketingmagazine.co.uk
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The tech giant has also revealed certain key details about what to expect from the event
Various reports suggest that the Xbox is gearing up for a showcase event. Following this, Microsoft has revealed the event's time and date. In a blog post made on Xbox Wire, it was revealed that the virtual stream would air on the 29th of this month at 5 a.m. PST. The tech giant has also revealed certain key details about what to expect from the event. The blog stated that it is an undeniable fact that games bring people closer, and players are now invited to celebrate the community of gaming and joy with the company. Just like the previous year, this show is expected to be curated only for players in Japan and Asia.
Only updates related to the local community will be revealed in the event, and no new global debuts can be anticipated from the company. Updates regarding the previously announced games that are relevant regionally will be given, and no world premiere will be heard during the event. This doesn't mean that the event won't feature premieres. In last year's event, there were several gameplays for Monster Hunter Rise, Hyrule Warriors: Age of Calamity, and much more. The full schedule for the event is available on the official site.


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6 Biggest Facebook IPO Surprises
From Mark Zuckerberg's security detail to a robust mobile payments forecast and a heavier-than-expected reliance on Zynga(:ZNGA), prospective investors were given some revealing insights into Facebook's world.
1. Slowing Growth
Despite boasting over 845 million users across its network, Facebook says in its so-called S-1 document that it expects its active user growth rate to decline over time as it achieves higher market penetration and increased competition. These signs are already starting to show.
While the number of users in Brazil and India continues to climb -- representing increases of 268% and 132%, respectively -- growth in the U.S. has slowed to 16%. Facebook's ability to increase its user base is critical to revenue growth by influencing the number of ads that the site shows, the value of those ads and the number of payment transactions that occur.
"If we are unable to maintain and increase our user base and user engagement, our revenue, financial results, and future growth potential may be adversely affected," the S-1 said.
2. Mobile Revenue
One of the most surprising elements of Facebook's S-1 is that, despite the company's heavy reliance on mobile platforms, it does not make any money from its mobile products.
Of the $3.71 billion in revenue Facebook generated in 2011, no "meaningful" revenue was generated from its mobile platforms, the company said.
Facebook had more than 425 million users accessing Facebook through its various mobile products (iPhone, Android, iPad, and BlackBerry apps) in December 2011. The company said that it expects mobile growth will actually surpass the growth rate of overall users (845 million) as it continues to focus on developing mobile products. "We do not currently directly generate any meaningful revenue from the use of Facebook mobile products, and our ability to do so successfully is unproven," the filing said.
3. Greater-Than-Expected Reliance on Zynga
FarmVille maker Zynga generated 12% of Facebook's revenue in 2011 through payment processing from the sale of virtual goods as well as advertising purchased through the social gaming firm. If Zynga chooses not to feature its games on Facebook's platform or if Facebook fails to maintain a solid relationship with Zynga, its business could be severely hurt.
Zynga users must use Facebook Credits -- the social network's virtual currency -- to pay for goods on the site. Facebook then keeps a 30% cut of goods purchased from Zynga's games.
4. Advertising Revenue Slowdown
Advertising revenue growth slowed markedly from 2009 to 2011. Growth dropped from 144% from 2009 to 2010, to 68.9% from 2010 to 2011. Facebook generated $764 million in advertising revenue in 2009, $1.89 billion in 2010, and $3.15 billion in 2011.
5.Payments Platform Details
Despite some of the caveats seen in the S-1, Facebook does expect big things from its Payments platform.
Facebook expects the market for virtual goods to increase over 100% from 2010 to 2014, jumping from $7 billion to $15 billion. Facebook takes a 30% fee from Zynga for the virtual goods sold for games such as FarmVille, Mafia Wars and other games. The company said that it may seek to extend its Payments platform to "other types of apps in the future," but did not say exactly what types of apps it planned to expand into.
Revenue from Payments and other fees rose from $106 million in 2010 to $557 million in 2011.
6. Zuckerberg's Security Detail
Famed for living modestly in northern California, Zuckerberg now has to contend with some of the headaches of being a public figure. "Because of the high visibility of our company we have implemented a 'comprehensive security program' for Mr. Zuckerberg to address safety concerns resulting from his position as our founder, Chairman, and CEO," explained Facebook, in its S-1. "We paid for the initial procurement, installation and maintenance of security measures for Mr. Zuckerberg's personal residence, and we pay for the annual costs of security personnel, neither of which constitutes taxable income to Mr. Zuckerberg."
--Written by Olivia Oran and Chris Ciaccia in New York.


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The reengineered ‘super enzyme’ can gobble up plastic bottles and break them down into their building blocks in just a few days.
"If you drive here at certain times of night, it smells like death."
IceStone's owner said that he has known Weiner for several years and even visited him in prison before offering him a job as the company's CEO.
Electronic pregnancy tests use paper test strips that are connected to computer chips, raising the question of what you're paying for.
Since the 1980s, redemption centers have served as a lifeline for thousands of New York City residents who collect bottles and cans for a living—especially during economic crises.
It's putting recycling-facility workers, who sort trash by hand, at risk.
As oil prices rapidly drop, recycling centers remain shut and plastic personal protective equipment becomes biohazard waste, the pandemic could worsen the already serious plastic pollution problem.
“At this rate, plastic is set to outweigh fish in the ocean by 2050,” the complaint reads.
If it works, the technology could be used to make all plastics recyclable.
Electric vehicles can help save the planet, but their batteries pose a serious challenge to the world's recycling infrastructure. We need to improve and scale up recycling methods now, scientists say in a new paper.


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By Babajide Komolafe, Economy Editor
FBN Holdings, the parent company of First Bank Limited has declared a 99.1% growth in profitability to N166.7 billion for the full year ended December 2021.
The Company disclosed this in its audited financial statements for the year ended December 2021, adding that the growth in profitability which defied decline in net interest income, was driven by 96.1% upsurge in Non Interest income during the year, to N364.6 billion in 2021 from N185.9 billion in 2020.
Among other things, the audited results showed that gross revenue rose by 28.2% to ₦757.3 billion in 2021 from N590.7 billion in 2020
This follows a 30.0% growth in loans and advances to ₦2.9 trillion from N2.22 trillion in 2020, as well as a 19.5% increase in Customers Deposit to N5.9 trillion in 2021 from N4.9 trillion in 2020.
Furthermore, the company recorded a 16.2% growth in total assets to ₦8.9 trillion in 2021 from N 7.7 trillion in 2020.
Also enhancing the profitability growth, was improvement in the Asset Quality and Risk Management of the company, which led to further reduction in Non-Performing Loan (NPL) ratio to 6.1% from 7.7% in 2020.
Commenting, Group Managing Director, FBN Holdings Plc, said: “Our performance over the course of 2021 is reflective of the resilience of the Group and underpins our growth strategy to generate sustainable value for all our stakeholders. As a Group, we are acutely aware of the macroeconomic challenges facing businesses and remain focussed on carefully navigating the environment through innovation and by putting our customers at the centre of our attention.
“As a financial service holding company, driving synergies remains a critical part of our strategy and has been integrated into every aspect of our delivery model. We pride ourselves in the uniqueness of our diversified portfolio and the collaborative ecosystem that we have built around our lines of business, our customers, and the unique value proposition that we deliver. We are also increasingly leveraging technology – artificial intelligence, robotics, and other next-generation technological advancements, to deepen collaboration and further drive operational efficiency across the Group.
“In 2022, our strategic focus is on revenue generation through digital channels and retail product offerings, further driving our synergy potential as well as continuing to improve our operating model to deliver more efficiencies”.


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Coronavirus pandemic has affected many businesses around the world. This has resulted in a complete block of cash flow and income for most of the companies. Fortunately, there is a plus point to this as many new business plans going into action. Swiggy, online food ordering and delivery platform is planning to deliver alcohol to its customers. Even though the Swiggy Super program is shut, the alcohol delivery scheme looks bright. Previously, its biggest competitor – Zomato also expressed its plans to start delivering alcohol amid the coronavirus lockdown.
Termination of Swiggy Super
According to a report, the current Swiggy Super users can avail of the services, but further registrations and subscription facilities are closed. The food-tech giant decided to terminate the Swiggy Super scheme as COVID-19 has taken a toll on the business. The number of subscribers slowly started to diminish as most of the people feared to order from restaurants because of the virus. But, the termination plan is not yet confirmed and is still in the planning stages.
Home delivery of alcohol
Swiggy is currently discussing this idea with the government and still seeking permission for the alcohol delivery scheme. The rival, Zomato, is also debating the alcohol delivery plans with the International Spirits and Wines Association of India (ISWAI). This is done because it would prompt the consumption of alcohol while maintaining social distancing.
Before the pandemic, delivery platforms like Dunzo had the alcohol delivery system. However, the High Court banned it last year.
The ISWAI and many other alcoholic beverage federations of India pleaded to the government to allow the home delivery of alcohol. The government is considering this as the income revenue generated by the sale of liquor weighs up to 35 percent of the total revenue generated.


text: Gold was extremely overbought, rallying more than $300 in a little more than a month, and most experts were calling for a correction. This one came fast and furious. Gold also sank Tuesday falling as much as $80 from its intraday high of $1,917 an ounce, as worries over margin hikes hit markets and as investors opted for stocks. The Dow Jones Industrial Average rose more than 300 points on Tuesday, an uptrend which tentatively continued today. Concerns that the Chicago Mercantile Exchange could raise the cost of purchasing an 100 ounce futures contract were still rattling gold prices a day after the Shanghai Gold Exchange raised margins by 1%. George Gero, senior vice president at RBC Capital Markets, said that sell-stops, where traders are forced to sell positions, were triggered at $1,850, $1,825 and $1,800, which accelerated the selling. "The rapid selling did not counter ready buyers in an already overbought technical picture." David Banister, chief investment strategist at ActiveTradingPartners.com, who said that gold could pivot at $1,907 an ounce, says the big support level is at $1,620 an ounce. "This is only year 10 in a 13-year bull cycle, Banister says, there are "still 3 years left, but this should be a multi-month consolidation." Lower prices should bring out the physical gold buyers. In early trading on Wednesday, the physical market found some support particularly from India, as reported by Commerzbank. "The price slump has obviously been used for physical buying, as confirmed by the Bombay Bullion Association, which estimates that precisely such price falls are increasingly being used for physical buying ahead of the festival season in India." Over the past 11 years the gold price has averaged an 11% gain from mid-August through the end of December, mainly because the fall is a seasonally strong buying period. There is an array of festivals in India which gives consumers a reason to buy gold. Commerzbank also said that Kazakhstan's central bank will buy the country's gold production -- 30 tons last year -- that otherwise would be exported. Although the country isn't a huge exporter, it underscores the trend that central banks are continuing to buy, not sell, gold, adding a key demand factor to the market. "The price of gold should initially sustain its upward trend," said the note.


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This week’s wine news: The country’s second biggest distributor, RNDC, is going to merge with the fourth biggest, plus Italians stick up for local wine and red wine drinkers are much cooler than white wine drinkers
• RNDC tries again: RNDC, the country’s second biggest distributor, will merge with No. 4 Young’s Market. This comes in the wake of RNDC’s failed merger with No. 3 Breakthru Beverage in the spring, which the federal government said would violate anti-trust law. The story in this link calls the merger “a distribution joint venture,” but read it all the way through and it says Young’s will become a division of RNDC. Which sounds like a merger, but I’m not the one RNDC executives have to convince. That would be the Justice Department. Regular visitors here know how I feel about this stuff; it’s a great deal for the distributors, allowing them to cut costs and increase margins, and not so good for the wine drinker and too many wineries that aren’t Big Wine. But it’s all part of the thrill and excitement of the three-tier system.
• Local wine means local wine: Farm house bed and breakfasts in the Italian region of Lombardy must serve only local wine to their guests, reports the The Local, an Italian news site. “Under a new amendment to the regional law. … the more than 1,600 agriturismi– farms offering tourist accommodation in Lombardy will have to prioritize local specialties. They will be limited to getting 20 percent of their products from outside the region, and none of their fish or wine (though wines from vineyards directly adjoining Lombard soil are considered acceptable).” The story doesn’t explain why the law was passed – no doubt it was caused by a particularly Italian dispute.
• Red vs. white: Red wine drinkers are much cooler than white wine drinkers, according to a recent poll. “Nearly half of red-wine drinkers considered themselves ‘wine aficionados’ compared to 31 percent of white-wine drinkers. And red-wine drinkers also showed they knew slightly more about wine in a series of follow-up questions compared to white-wine lovers.”And who took this poll? None other than Coravin, the $250 wine opener whose target audience, not surprisingly, is expensive red wine drinkers. This is yet another example of someone paying for a study to get certain results, something I have written about many times before. And, to her credit, the woman who wrote the story in this link mostly did just that.


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"We just feel like we can make a go of it," he said. "We believe that there is more than enough to make the golf course survive, and you manage it accordingly."
Alexandria landmark expected to reopen in the spring →
"That creates a very good transmission where you can have very many gear ratios. It's a big advantage," Adams said. "I want to make the most fuel-efficient, gas-powered vehicle ever made. It has that possibility."
Belmont business works to build better bicycle →


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New Delhi:Shares of Tata Motors climbed over 2 per cent in early trade on Monday after the auto major on Friday posted 57.67 per cent increase in total sales at 52,464 units in November.
The company had sold 33,274 units in the same month last year, Tata Motors said in a statement.
Domestic sales of commercial vehicles (CV) jumped 71.91 per cent to 35,307 units last month as against 20,538 units in the same month last year.
The scrip was trading 2.27 per cent up at Rs 408.20 around 9.45 am (IST). Shares of the company opneed at Rs 408 and touched a high and low of Rs 408.50 and Rs 403.45, respectively, in the trade so far. Benchmark BSE Sensex was up 30 points, or 0.09 per cent, at 32,863 at around the same time.
In another announcement, Tata Motors on December 2 said it has delivered 50 new buses to Bengaluru Metropolitan Transport Corporation (BMTC). The new delivery is a part of the larger order of 1,385 buses bagged by Tata Motors earlier this year, the company said in a statement.
On the BSE, 1.36 lakh shares were traded on the counter so far as against average daily volumes of 5.09 lakh shares in the past one quarter.
The stock had hit 52-week high of Rs 553 on January 27, 2017 and 52-week low of Rs 357.95 on August 11, 2017.
Lithium-ion batteries are currently used in most electric vehicles because of their high energy per unit mass relative to other electrical energy storage systems. They also have a high power-to-weight ratio, high energy efficiency, good high-temperature performance, and low self-discharge. Most components of lithium-ion batteries can be recycled.


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Earlier this month I attended IBC2009 in Amsterdam to give a presentation on how media companies are embracing the mobile industry. The session I participated in, “Mobile media: Managing and delivering the content,” was well received. Delegates were keen to learn about what happens when the media and mobile worlds meet.
When I wasn’t presenting, I listened to some of the keynote sessions. It was interesting to hear some of the challenges and opportunities facing media companies in the next few years. The evolution of high-definition TV and the introduction of 3D TV were a couple of key themes, backed up by several companies showing off their latest products in the exhibition area.
IBC claims attendance was 45,547, a fall of about 7 percent from last year. Regular attendees noted a distinct drop in numbers, but it’s still encouraging to see so many people turn out in difficult economic conditions. The media world’s having a rough time at the moment as revenue has been hit, especially from advertising.
Perhaps in response to these tougher conditions, media companies are trying to reach more people, more of the time. Mobile technology is a good way to do this. I sense that the focus on mobile topics will be even sharper next year.
We’ve already seen a surge in Web-based catch-up TV services. At IBC, the BBC announced it might open its iPlayer platform to third parties. People are starting to want this kind of service on their mobile phone, creating traffic management problems for mobile network operators. We may even see some operators accelerate plans to roll out next-generation networks.
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Shaded by ragged squares of canvas, amid choking dust and the noise of hawkers, shoppers in Nairobi’s Gikomba market can turn up Tommy Hilfiger jeans or a Burberry jacket for a fraction of the price in London’s Regent Street or New York’s Fifth Avenue. But there’s a catch: the clothes are all secondhand, discarded as worthless at charity shops or thrift stores in Europe or the United States and then shipped thousands of miles to another continent, occasionally in such pristine condition that an original price tag is still attached.
Kenya imports about 100,000 tonnes of secondhand clothes a year, providing the government revenues from customs duties and creating tens of thousands of jobs. It also offers quality clothes to Kenyans, many of whom earn less in a month what a pair of new Ralph Lauren khakis costs in the West. To critics, the business raises the perennial problem of how Africa can build its own industry when it is flooded with cheap imports. But traders in Gikomba do not see it that way. “It’s a source of employment,” said Clement Shuma from behind a pile of secondhand trousers – his specialty – that includes British high-street makes like Topman and Next, and sometimes more internationally well-known labels like Levis or Benetton. “Even that person who’s not well, who’s earning little, at least can afford a piece of cheap (clothing), at a lower price instead of buying new,” he said, adding prices ranged from 400 to 1,000 shillings ($4.50-$11.20) per item, depending on quality and brand. It is a common scene across Africa, with Ghana, Tanzania, Benin, Uganda and Kenya among the biggest markets.
They provide clothing to many on a continent of 1 billion where economies may be growing many Africans struggle to get by. “Before, if you see our people, the knees are torn…you can see the thighs,” said Regina Wanjiku, a used clothes importer and wholesaler at Gikomba, describing the sartorial challenge before the business took off two or three decades ago when Kenyans depended on more expensive local products. How the trade has grown, in part, reflects the economic changes that have swept the continent.
Until the 1980s, high tariffs protected home grown garment and other businesses. Then economic liberalization programs, backed by the World Bank and International Monetary Fund, started taking hold in Kenya and elsewhere. Tariffs were lowered and local factories had to contend with new competition. Many failed and shut. Some industrialists say importing secondhand clothes, known in Swahili as “mitumba”, undermines Kenya’s own garment makers.
“That has hurt badly the domestic market,” said Rajeev Arora, executive director of the African Cotton & Textile Industries Federation. He said 85 percent of Kenya’s textile plants had closed since the early 1990s, while cotton output was a tenth of 1990s levels. Other experts say it was not the used clothing imports that drove factories out of business, but inefficient production. Dorothy McCormick, a University of Nairobi professor who has researched Kenya’s textile trade, said locally produced clothing was highly subsidized by the government and had always been too expensive to supply the domestic market. “Mitumba” filled a gap in the market, cheaply, she said.
Kenya, a nation of 44 million people, is now building up a new garment-making business, but the focus this time is on exports. Kenyan factories exported garments worth $335 million in 2013 and the business employed 40,000 people, says Jaswinder Bedi, a Kenya-based director of the International Textile Manufacturers Federation. In part, the export business has grown because of a trade pact between the United States and Kenya, was well other African states, giving them duty free access to the U.S. market. Nairobi City Council estimates that about 65,000 people work in Gikomba, Kenya’s largest “mitumba” market, with some people sharing stalls or working on different days of the week. In addition, there are a dozen or so smaller markets in Nairobi, and other markets around the country, creating more employment. The informal nature of much of the trade makes it difficult to estimate precise numbers, though researchers and officials suggest it may employ hundreds of thousands.
Banks have spotted an opportunity and, since 2007, several have opened branches next to Gikomba to serve the traders. “We actually follow the customer, from maybe a hawker to an importer,” said Benjamin Karanja, a spokesman for Family Bank, which operates at the market. “So as they grow, we also grow.” He estimated the market’s turnover was $1.1 million a month. The route from donor to new owner, described by officials, exporters, wholesalers, traders and academics, takes the used clothes halfway around the world with the money made at each point racking up to a multi-million dollar global business.
“It creates new livelihoods and it creates new value in a commodity, which otherwise would have been dumped,” said David Simon, a geographer at the Royal Holloway, University of London. Charity or thrift shops in the West sift donated items, often keeping just a quarter of the items. The rest are sold to exporters for up to 90 U.S. cents a kg, then wrapped in 45-kg bales and packed in containers – a standard 40-foot container holds about 550 bales, equivalent to about 25 tonnes of clothes. At Kenya’s Mombasa port, customs agents collect duties of 1.2 million shillings or more per container, officials and traders say.
Although officials did not have total revenue figures, the state statistics agency said imports amounted to 100,000 tonnes worth about $90 million in 2013 alone. This would mean at least 4,000 containers and potential duties amounting to 4.8 billion shillings ($54 million) a year, according to a Reuters estimate. At market, Nairobi City County profits by charging a 50 shilling fee each day from informal hawkers. Bigger shacks or shops pay 4,000 to 15,000 shillings a year. Experts estimate there are about 10,000 shops and stalls in Gikomba. “Many families depend on Gikomba,” said Wanjiku, the Gikomba wholesaler, sipping tea in her warehouse as porters unloaded bales from a delivery truck outside. Many people start with as little as 1,000 shillings, she said, enough to buy a clothes bundle that will earn a small profit. “And then he has food for his children,” she said.
The global used clothes trade a perfect business model, which transforms something otherwise unwanted into an income-generating source for millions. At the same time, the environment gets a double reprieve: used clothes are diverted from landfills or incinerators and valuable natural resources (water and land) are spared by reducing demand for new clothes. And to think it all starts with a simple donation of a kid’s shirt or a pair of too tight designer jeans. It is this small act repeated by many across the nation that sets in motion a synergistic ripple effect, creating multiple benefits for people and the planet. ( By Edmund Blair and Robin Pomeroy from TheBusinessOfFashion.com )


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The Texas Chain Saw Massacre is another asymmetrical horror game that competes against Dead by Daylight. Dead By Daylight continues to be undefeated in this genre despite all attempts to make competition. Games like Friday The 13th, Last Year , Re: Resistance, and Home Sweet Home: Survive tried but they failed. Fans claimed those games will be the next Dead by Daylight. Well, it never happened. One biggest disadvantage of The Texas Chain Saw Massacre Game, Leather Face is already a playable killer in Dead By Daylight. So Why play this new title if the main killer of this game is already playable there?
With the release of the second piece of DLC for Destiny in the form of House of Wolves, a fan of the game has actually created one of the weapons featured in the shooter. Not just any gun though, this fan has recreated the most powerful gun in the game through the company Faltion Prop Works.


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Tuesday, 15th June 2010
In Events In Japan,
Bank of Japan reveals loan scheme
The Bank of Japan has announced it is to offer a new loan scheme worth $33 billion (£22.3 billion) to try and boost the country's economy and encourage growth.
The money, which is worth around three trillion yen, will be offered to commercial banks who will in turn, hopefully lend the cash to private firms struggling with the ongoing impact of the economic downturn. The money will be offered at a low interest rate to further boost interest.
As well as the downturn, Japan has been hit by deflation and the recession it suffered as a result of the global financial crisis was its worst since the end of the second world war.
Staples of the Japanese economy, such as cars and electrical items, also suffered lacklustre sales throughout the downturn.
In a statement, the bank said that while the nation's economy "shows further signs of moderate recovery", its "most critical challenge" is to raise the economic growth rate and boost productivity.
Written by Kimberley Homer.
Related news stories:
Japanese banks to boost ATM availability for tourists (17th March 2015)
Finance minister says 'poor English' saved Japanese banks (1st July 2013)
Japan bank files for bankruptcy (13th September 2010)
Japan banks scrap merger (14th May 2010)
Bank of Japan helps with economic bolstering (10th May 2010)


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#MATS: Volvo hybrid truck, Mean Green, to attempt world speed record
LOUISVILLE, Ky. – Who said hybrids can’t be fast? Volvo had Mean Green, the world’s fastest hybrid truck and its record setting owner and driver, Bojje Ovebrink, at its booth here and used the event to announce an attempt to reach speeds in excess of 260 km/h (165 mph) April 27 at Wendover Airfield in Utah. Mean Green will be trying to best its own world speed records.
The Volvo-built hybrid currently holds speed records in the standing 500 meter (one-third mile), standing kilometer (two-thirds mile) and flying kilometer – international speed standards.*
“Mean Green is a prime example of Volvo’s technical capabilities and our continued focus on merging technologies. Our engineers developed the world’s fastest hybrid truck utilizing the same Volvo hybrid drive system powering hundreds of Volvo buses throughout the world, including London’s double-decker buses,” said Ron Huibers, president, Volvo Trucks North American Sales & Marketing.
In building the Mean Green, Volvo’s team of hybrid technology experts adapted Volvo’s hybrid driveline to the chassis requirements of a truck built for speed. Engineers then outfitted Mean Green with a highly tuned Volvo D16 engine and a modified version of Volvo’s automated I-Shift gearbox, which interacts with the hybrid’s electric motor.
“The result is a lightning-speed boost from start-off without any of the customary diesel-engine delay,” said Ovebrink. “It’s like a champagne cork, but without the sound effects. For the first couple of seconds the truck just makes a slight whistle until the diesel engine, which runs on renewable liquid rosin diesel, starts delivering with explosive force.”
In total, Mean Green pumps out a massive 2,100 horsepower and nearly 5,000 lb-ft. torque – of which, 200 horsepower and 885 lb-ft. of torque come from the electric motor. Aerodynamics also plays a vital role in achieving top speed, so Volvo designers selected a North American VN cab and sculpted the aerodynamic shape for the truck.
Mean Green features modified versions of the following Volvo production components:
• Volvo hybrid motor
• Volvo hybrid battery
• Volvo D16 diesel engine
• Volvo I-Shift automated manual transmission
• Volvo VN cab and frame
• Rear axle with 1.85:1 ratio
During its North American tour, Mean Green will also visit Truck World, April 19 to 21, in Toronto, and the Volvo Ocean Race, May 17 to 20, in Miami.
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New research from PayPal and Ipsos shows that mobile commerce is growing at more than double the rate of overall e-commerce in Canada.
From 2013-2016, the compound annual growth rate for mobile commerce in Canada is projected at 34 per cent versus only 14 per cent for overall e-commerce, including mobile commerce.
This growth presents opportunities for Canadian retailers, as mobile commerce spend had already reached $3.45 billion in 2013 – a number which is predicted to grow by 142 per cent next year.
“We are at the dawn of a mobile-first era,” said Alexander Peh, head of mobile and market development at PayPal Canada. “At PayPal, we’ve seen our mobile growth rise from less than one per cent of our payment volume in 2010 to more than 20 per cent in 2014.”
According to the research released today, a fifth (19%) of online shoppers surveyed report having purchased from their smartphone in the past 12 months, and 15 per cent reported making a purchase from an Internet-enabled tablet.
Millennials are the primary driving force behind the surge in smartphone commerce with more than half (52%) of smartphone shoppers between 18-34 years old. This same age group accounts for only 31 per cent of total online shoppers, which highlights the need for smart mobile e-commerce solutions for a forward thinking retailer.


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The use of blockchain technology can make certain aspects of the financial market easier to navigate, whether this pertains to the production of goods or the trading of those goods on an exchange.
Nigerian Exchange Limited is almost done with the final steps needed to launch a platform for trading. It launching will be in 2023 that will only use blockchain technology.
According to TechEconomy’s the company’s first electronic share offering, which MTN Nigeria issued in the previous year, was 1.2 times oversubscribed, and the majority of the investors were under the age of 40.
However, once it receives approval from the relevant industry regulators by 2023, the Exchange intends to seek a strategic collaboration with a technology company.
The Chief Executive Officer of Nigerian Exchange Ltd Temi Poopola sees blockchain technology as a way to improve the financial market because it enables an “effective way of trading financial assets.”
He also mentioned that its deployment would provide the young investors with easy and quick access to the market,” as the majority of users of cryptocurrency in Nigeria are young people.
Blockchain technology can make certain aspects of the capital market more accessible, like creating new products or making it easier for people to trade on the Exchange.
Cryptocurrency trading hasn’t been backed by the government in Nigeria yet, and the government has told Nigerians severally not to trade. Hence, the CBN issued an order mandating commercial banks within the country not to help with processing any cryptocurrency transactions
The cryptocurrency market is going to be directly involved with the Exchange. In that case, it is required to conduct its business by the regulations of the Security Exchange Commission of Nigeria and the CBN.
The agency pointed to cryptocurrency as a potential threat to the existing monetary system. In the meantime, Nigeria’s Securities and Exchange Commission (SEC) said it is ready to protect e investors.


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The coronavirus pandemic made most of us homebodies offering free time for those out of work or working less.
Yet as the saying goes, idle hands are the devil’s playground and for some North Dakotans, they’ve been victims of COVID-19 related fraud.
“You pay and get nothing in return. That’s the ultimate goal,” Bao Vang of the Better Business Bureau for Minnesota and North Dakota said.
The Federal Trade Commission ranked North Dakota third among all 50 states for the median fraud loss due to COVID-19 and stimulus fraud.
North Dakotans were especially hit hard when buying items online.
According to the agency, people have purchased masks but the business never delivers and the seller ends up ghosting them.
Vermont and Idaho are the only two states ahead of North Dakota in the median fraud loss category.
Median means the middle value in a given set of numbers, in this case fraud losses.
For North Dakotans the median loss was $538. Nationwide it was $283 and in total Americans have loss $71 million.
The overall FTC reports of fraud in North Dakota are 82. However, those who’ve been scammed have lost a lot of money compared to other states.
“There are no COVID-19 cures, medicines. The FDA has not authorized any home test kits,” Assistant Attorney General Parrell Grossman said.
Grossman is the director of the consumer protection and antitrust division for the North Dakota Attorney General’s office.
He expressed concern with contact tracing scams.
Contact tracing is used when someone tests positive for the novel coronavirus. A health department official will call everyone that person came in contact with to warn them of the diagnosis.
“Contact tracers will never ask for money,” Grossman said.
The Better Business Bureau warns people to be smart when making purchases through the internet.
“Online shopping scams are only one ploy and that is to lure you in with some sort of catch, some sort of really enticing deal, or product, or claim,” Vang, the communications director for the BBB, said.
A few tips are to look at the website’s refund policy and its contact section.
Moreover, check the date on when the website was launched. If it just launched, you may want to avoid the site.
If you believe you’re the victim of any fraud, contact the North Dakota Attorney General’s consumer protection hotline at 1-800-472-2600.
Get your CompTIA A+, Network+ White Hat-Hacker, Certified Web Intelligence Analyst and more starting at $35 a month. Click here for more details.


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The new Tata Safari 2021 was launched this year on Republic Day. The car has already become popular in the market and among enthusiasts. Tata managed to dispatch 1,707 units of the vehicle within the first month of its launch, reported India Car News.
The most popular competitors of the new Tata SUV appear to be the new MG Hector Plus and the new Mahindra XUV500. However, Hyundai’s Alcazar is expected to compete with it too. It remains to be confirmed when the company will reveal its features.
Both Mahindra XUV500 and Hyundai Alcazar are expected to launch soon.
The new Tata Safari comes with a capability of OMEGARC, an architecture derived from the renowned D8 platform of the Land Rover. It will be available in two seating configurations: 6- and 7-seater.
It uses a Kryotec 2.0 Turbocharged Diesel Engine, which produces 170 PS Power & 350 Nm Torque. It houses six-speed automatic and manual transmission.
Tata Safari is priced between Rs 14.69 lakh and Rs 21.45 lakh (ex-showroom price Delhi).
The all new Mahindra XUV500 comes with a 2.0 litre petrol and 2.2 litre diesel engine and produces a power of 152.87 bhp with 360 Nm Torque. It will be available in both automatic and manual transmission variants.
Along with 7-seat configuration, it is expected to get features like ADAS technology, wireless charging, etc.
It is likely to be available with a starting price tag of Rs 18.27 lakh.
Hyundai is set to reveal its SUV, Alcazar, on 6 April 2021. However it is expected to launch in May 2021, reported India Car News. It is likely to come with a 1.4-litre turbo-petrol and a 1.5-litre diesel engine, similar to Creta.
As per the reports, features of this new SUV are expected to be same as Hyundai’s 5-seater Creta, but it may come with a new design. Since it will be a 7-seater car, as confirmed by the company’s website, it is likely to be taller and longer than Hyundai’s Creta.
Further details of the same will be revealed by the company soon.


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Kazakhstan Economic Outlook
February 6, 2018The Minister of National Economy stated that the economy grew around 4.0% last year at a recent government meeting, according to local media reports. While official data has yet to be released, the reading would mark a notable jump from the 1.1% and 1.2% expansions in 2016 and 2015, respectively, if confirmed. Growth was likely driven by an upturn in oil prices in the second half of 2017, which resulted in a substantial boon for the oil sector and a ramp up in production to cash in on bigger profit margins. Activity was also supported by Russia’s exit from recession, which fueled higher demand for exports; Russia is one of Kazakhstan’s top trading partners. Retail sales bounced back in the year, growing at a markedly higher average rate compared to the previous year. In addition, a significant drop in inflationary pressures from 2016 boosted households’ real purchasing power and shored up private consumption.
Kazakhstan Economic GrowthThe economy is set to expand at a steady pace this year thanks to rising exports, a pick-up in domestic demand amid an expected fall in inflation, and higher inflows of investment. Growth is expected to hover below pre-crisis levels, however, as the commodity-dependent economy remains susceptible to external shocks. Diversifying the economy and improving financial stability by reducing the share of non-performing loans on banks’ balance sheets are much-needed reforms. Met the why particular panelists project 3.4% growth in 2018, which is up 0.1 percentage points from last month’s forecast, and 3.5% growth in 2019.
Kazakhstan Economy Data
5 years of Kazakhstan economic forecasts for more than 30 economic indicators.
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Kazakhstan Economic News
February 2, 2018
Consumer prices climbed 0.6% over the previous month in January, a marginally smaller increase than the 0.7% month-on-month rise in December.
January 16, 2018
Industrial production expanded 5.4% over the same month of the previous year in December, up from 5.0% year-on-year growth in November.
January 15, 2018
The National Bank of Kazakhstan (NBK) decided to cut the one-day repo rate—also known as the base rate—by 50 basis points to 9.75%, with a corridor of plus or minus 1.0%, at its 15 January monetary policy meeting.
January 3, 2018
Consumer prices rose 0.7% over the previous month in December, down from a 0.9% month-on-month increase in November.
December 29, 2017
GDP grew 4.2% in the January–September period compared to the same period of the previous year, according to a breakdown of GDP by expenditure released by Kazakhstan’s Statistical Institute on 29 December.


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Hats off to the bosses at Lego for how they have successfully grown their brand into the 21st Century. Go back a few years and the toy-manufacturing giant were under pressure. With the growth of video games, it seemed that kids were moving away from the traditional past-time of making houses, space-stations and trucks from small plastic bricks and switching to entertainment that was less hands-on.
With this move came the very real possibility that the ubiquitous smile that graced their yellow-headed Lego figures would turn to a frown as, for the first time in decades, children didn’t want to spend hours putting their popular toys together. Sure, they had tried to expand their age-range with technical Lego at one end of the range, and larger blocks at the other end for pre-school children, but it still looked like their core audience was going to leave them high and dry in favor of new technology.
S, what did the heads at Lego do? Did they ignore the signs and try to continue as they always had, like so many other toy manufacturers? No, they saw that the writing was on the wall, and they adapted.
In a genius move, the people at Lego decided to embrace rather than shun the move to video-gaming. With the release of their ‘Star Wars’ franchise Lego video-game, they not only entered the video-game market themselves, but also offered a boost to their physical toy line. Who could resist the joining of legendary Star Wars characters with the unique style of Lego? The video games caught on like wild-fire as children and adults alike were drawn to the combination of classic movie and Lego. Indeed, it could easily be argued that it was twenty and thirty-something parents who helped push Lego back to their core market. After the computer games took off, Lego were able to release associated toy-ranges. It was a case of ‘you’ve seen the movie; you’ve played the video-game, now buy the Lego toys.’
Of course, movies and toys have gone hand-in-hand for decades – including the original Star Wars trilogy and figures – but Lego smartly integrated themselves into the game by re-imagining the movies in their own style for gamers.
From this early exploration, the Lego / movie / video-game combination has flown; with Harry Potter, Indiana Jones, Batman, Pirates of the Caribbean, and now, The Lord of The Rings all enjoying the Lego make-over. In fact, it seems that the combinations will just keep rolling, much to the delight of fans, young and old.
There can be no doubt that Lego have to be applauded for their ability to see and exploit a gap in the market, just when it looked like things could turn bleak for them. Indeed, as I said at the top of this piece – (Lego) hats off to them!
Hats off to the bosses at Lego for how they have successfully grown their brand into the 21st Century. Go back a few years and the toy-manufacturing giant were under pressure. With the growth of video games, it seemed that kids were moving away from the traditional past-time of making houses, space-stations and trucks from small plastic bricks and


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Shares of PMTS stock opened at $2.53 on Friday. The stock has a market capitalization of $29.02 million, a price-to-earnings ratio of -3.24 and a beta of 1.38. CPI Card Group has a 52 week low of $1.93 and a 52 week high of $4.18.
CPI Card Group (NASDAQ:PMTS) (TSE:PNT) last announced its quarterly earnings data on Thursday, May 9th. The credit services provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.26. The company had revenue of $66.87 million during the quarter, compared to the consensus estimate of $57.99 million. On average, equities analysts forecast that CPI Card Group will post -0.88 EPS for the current year.
CPI Card Group Company Profile
CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through U.S. Debit and Credit, U.S. Prepaid Debit, and Other segments. The U.S. Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing banks in the United States.
Further Reading: Stock Split
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Students Should Withdraw from Some Credit Card Programs
Charlene Crowell | 4/16/2014, 3 p.m.
Now with so many colleges and universities entering into contracts with debit card providers the opportunity for these lucrative fees to strip away needed student aid is at hand. The DOE faces a major decision. Should the Department restrict schools from entering into partnerships with financial institutions that allow students to overdraw their accounts with the swipe of a debit card? If so, that decision would be consistent with the Department’s existing policy to disallow disbursements of student aid onto debit cards or accounts that can be used or converted into a credit instrument.
Allowing consumers to spend more than they have in exchange for a fee is the equivalent of offering them a loan to be repaid with interest.
Until DOE finalizes its rulemaking, students and their parents should set out on a mission to better understand the terms of the college debit cards issued. If review of the ‘fine print’ details lead to more questions, those concerns should be brought to the attention of the debit card providers, college officials and if necessary, to the Consumer Financial Protection Bureau through its online complaint forms. Those forms can be found at www.consumerfinance.gov.
Just as the United Negro College Fund slogan advises that ‘a mind is a terrible thing to waste’, so too is financial aid. Funds disbursed to support higher education should not be snatched away for private gain.
Charlene Crowell is a communications manager with the Center for Responsible Lending. She can be reached at Charlene.email@example.com.


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KMART’S VICE CHAIR BOZIC TO RETIRE OCT. 31
TROY, Mich. — Kmart Corp.’s vice chairman, Michael Bozic, is retiring Oct. 31, and his responsibilities will be dispersed among four executive vice presidents, the company said Wednesday.
Kmart has been undergoing a management reorganization under its new chairman and chief executive, Chuck Conaway, a 39-year-old former drug store executive who joined Kmart last June, succeeding Floyd Hall. The 59-year-old Bozic was at one time considered a contender for the top job.
Bozic, a 37-year retail veteran, has held high-level posts at mass retailers. He spent most of his career at Sears Roebuck & Co., where he rose to chairman and ceo of the merchandise group. For four years after leaving Sears in 1991, he was president and ceo of Hills Department Stores, and from 1995 until joining Kmart in December 1998, he was chairman and ceo of Levitz Furniture Corp.
Conaway credited Bozic with developing cross-functional solutions to improve the supply chain and flow of goods and developing a systematic approach to fixing the infrastructure and upgrading technology. Kmart in the Nineties lost market share to more nimble competitors Target and Wal-Mart, both said to have better systems for managing and delivering goods to the stores and tracking sales.
Bozic joined Kmart with responsibility for finance, technology, distribution, construction, facilities management and supply procurement, legal and E-commerce.
His duties will be dispersed among the following executive vice presidents: chief financial officer Martin E. Welch will now report directly to Conaway and handle supply procurement and all financial matters; Randy Allen, chief information officer and supervisor of strategic planning, will become the lead executive for BlueLight.com; David Rots, human resources and administration, will oversee the legal department, and Mark Schwartz, store operations, will handle facilities management and construction.
In other key changes at Kmart this week, Anthony D’Onofrio, formerly with Michael’s Stores, was named executive vice president and chief supply chain officer to oversee merchandise flow, distribution and logistics. He reports to Andy Giancamilli, president and chief operating officer.
Also, Michael Frank joined as vice president and general merchandise manager for Super Kmart, with responsibility for all grocery buying functions for the 107-unit supercenter chain.
Mariana Keros was named divisional vice president of trend and product development. She was with Dayton Hudson Department Stores and The Limited.


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JULY 3, 2021 | 2PM-5PM
After nearly 18 months of COVID restrictions, Eastern Market Main Street was honored to host our a third annual neighborhood tasting tour - previously known as Constitutional(n) - with a cultural & historic twist. EMMS highlighted local restaurants, retail businesses and regional drinkeries; while celebrating the reopening of DC and capturing the July 4th spirit. Best of all, proceeds from Independence! go towards EMMS' work to support small businesses and keep the corridor vibrant and welcoming. Thank you to the 101 participants who made this event such a success!


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It’s pretty rare these days to find a letter in your mailbox. With the electronic age dominance, most physical mail a person receives is junk mail or packages. A new system by the United States Postal Service allows you to get delivery notifications with photos of what’s being delivered, so of course, criminals have found a new opportunity to steal.
The United States Post Service expects to deliver more than 900 million packages in the month of December alone. Their new alert system allows you an early look at what’s coming in your mail and when. Mail is photographed as it’s sorted at the post office, and that photograph is then sent to anyone who has signed up for informed delivery. But what if that person isn’t actually you?
Scammers are now picking up the delivery information. Despite security measures put in place by the USPS that ask questions such as prior addresses and the sales price of a person’s home, thieves are still jacking your information and pretending to be you. All of that information could be on the dark web according to Cybersecurity expert Adam Levin. Adam goes on to say that some of this information is often available via social media too.
In a KrebsOnSecurity report regarding this new system, it was noted that in several states scammers were ordering credit cards in the names of the victims, signed up as those victims on Informed Delivery, and then simply picked up “their” mail upon delivery. Chris Torraca was one victim. He had his identity stolen during a 2015 database breach. The scammer obtained his hacked information, ordered the cards, and then followed his postal delivery person on the date the cards were to arrive.
The US Postal Service is quick to note that the actual Informed Delivery database has never been hacked, and Informed Delivery is one of their most heavily monitored programs. The best way to protect yourself is to simply sign up for your address using your email. Once that is done, the address is locked and available only to you.


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Coinsource , a leading bitcoin ATM network, recently surpassed the 100 machine milestone with an early year push in the state of New York, in which it added 14 new kiosks in the state since January. The company’s portfolio surged from 70 of 103 machines, 30 of which are located in the Empire State, allowing it to control over one-third of the market in the Big Apple.
New York is now Coinsource’s second largest market, and in it customers can buy and sell bitcoins directly from the ATMs, which can be found, for example, in the John F. Kennedy International Airport, the fifth busiest one in the country. The company’s CEO and co-founder, Sheffield Clark, said that New York was the place in which Coinsource had its first successful bitcoin ATM, adding that they are proud to offer the lowest rates in the market.
The company’s surge comes at a time in which bitcoin hits a new historic all-time high above $2,100, helping it reach new customers who can now easily have access to the world’s highest performing currency. Coinsource’s kiosks can be found in California, Louisiana, Missouri, Nevada, New Jersey, New York, Pennsylvania, Tennessee, and Texas.
According to Sheffield Clark, reaching the 100 machine milestone was part of the company’s business plans, and even though it was reached earlier than expected, the company, which currently has machines spread access nine states, has more in store for 2017.
CCN.com spoke to Bobby Sharp, co-founder of Coinsource, about his company’s success:
CCN.com: How did Coinsource come to exist?
Bobby Sharp: “We locked in on the space when we felt there was a need for people to immediately be issued bitcoin as opposed to going thorough exchanges. Our goal has been to provide our customers with the most convenient access to the world’s most valuable digital asset, and that’s why we are continuing to add machines in key markets across the country, as fast as we can.”
CCN.com: How does Coinsource decide where to install new ATMs?
Bobby Sharp: “We decide on where we will put ATMs mostly when we get focused customer demand from a specific area. If there are a multitude of phone calls from one particular area, we do the research and due diligence on that particular area and commit resources to commence placement. We commit machines to areas depending on the strength of demand.”
CCN.com: Any challenges you had to overcome?
Bobby Sharp: “Challenges are common in this industry, but we pride ourselves on our ability to overcome them when they arise. I wish it were a plug in play, but it is more difficult than one would think. Compliance is key when we place new machines, particularly because regulations vary state by state, but we commit a large portion of our budget to maintaining industry best practice and first class legal support.”
CCN.com: How well are Coinsource’s ATMs doing in the state of New York?
Bobby Sharp: “New York is a fantastic market and does well consistently for our company. We now have 30 machines in the state, each with healthy volumes.”
CCN.com: Coinsource controls 36% of the market in New York, how can it still thrive despite the state’s BitLicense? Has it even affected the company?
Bobby Sharp: “We are one of the few operators that welcome and embrace regulation. We are in this for the long haul and want digital currency to continue to gain popularity. The New York BitLicense is a good thing.”
CCN.com: What plans does the company have for the upcoming future?
Bobby Sharp: “Our main focus this year is to continue our exponential growth across the country. In late 2016 and the first quarter of 2017, we were installing machines at a rate of about 2.2 per week. We hope to tap into as many new markets as possible, and scale at the same rate bitcoin is growing. We have many surprises in store for this year as well.”
CCN.com: Is there anything else you want to share with our readers?
Bobby Sharp: “I think I’ve covered it all, and thank you for the opportunity.”
Featured image from Coinsource.


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A slide in profits at DFS Furniture is set to illuminate the slowdown in big-ticket spending from squeamish British customers this year.
The firm, which fell out of the FTSE 250 last year as its sales dwindled, has already warned that its earnings for the year to the end of July will fall by at least 13 per cent.
Updates from rival sofa specialist ScS and decorating retailer Topps Tiles this week will offer a further glimpse at whether precarious consumer confidence, which has slipped to levels last seen after the EU referendum, has caused further damage to spending on home improvements.
Full-year results from DFS, the country’s biggest sofa retailer, on Thursday are expected to show a 1.7 per cent rise in sales to £997.2m, producing earnings of £82.1m, according to analysts at Peel Hunt. This forecast is at the bottom of the company’s own profit range of between £82m and £87m.
Peel Hunt also expects a dividend cut next year, down from the 11p expected this year to 8p, as the firm pays for its recently-agreed purchase of Sofology.
Read more: Take a seat: DFS has warned of a “challenging market”
“The problem is that DFS is not on form right now. Granted, industry conditions are difficult but we don’t see DFS turning the corner back to positive LFL [like for like sales] or forecast momentum any time soon,” they said in a recent note.
DFS has tried to extend its reach by agreeing to buy rival Sofology for £25m in August, two years after it snapped up smaller competitor Dwell.
Another attempt to cushion the blow of weak sales has come from a trial of new smaller store formats, offering DFS an entry into central London and other town centres. The group has also tried to rejuvenate its range through collaborations with French Connection, Joules and Country Living.
DFS has struggled since returning to the stock market in 2015, following more than a decade in the hands of founder Lord Kirkham and later the private equity group Advent. The group’s shares have sagged from the 255p float price to 220p last week.
The shares have recovered some ground after a pummeling in the wake of a profit warning in June, when the firm said softer consumer spending was to blame for slow spring sales.
The UK’s upholstery market remains smaller than it was before the financial crisis in 2008. DFS sells more than a quarter of all upholstery in the country from its 100 stores and fast-growing website. About two-thirds of its sales are made on interest-free credit.
Read more: Furniture giant DFS is set to unveil a deal to buy smaller rival Sofology


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* Q3 net profit 2.17 trln won vs 2.13 trln won fcast
Q3 revenue up 3.6 pct to 19.6 trln won
* Sees European autos market falling 8 pct this year
* Hyundai shares up 3.9 pct after recent battering
By Hyunjoo Jin
SEOUL, Oct 25 (Reuters) - Hyundai Motor Co increased its quarterly net profit by 13 percent to $2 billion, squeezing overseas capacity to keep sales going despite damaging labour strikes at home.
The South Korean firm, which with affiliate Kia Motors is the world's fifth-biggest car maker, has outperformed in an industry battered by Europe's debt crisis - even Volkswagen and Daimler are feeling the pinch - but investors are concerned about a go-slow strategy on expanding capacity.
Hyundai has not announced plans for a new plant for at least two years, as it focuses on brand and quality rather than aggressively chasing market share - but this has left it short of cars to sell into a recovering U.S. market, where Japanese rivals have muscled back in, as well as in emerging markets.
In a summary note this week, Standard & Poor's forecast Hyundai and Kia would lose global market share by 2014.
``With its growth rate moderating on limited capacity and the global economy weakening, it'll be a challenge for Hyundai to come up with a magic growth formula,'' said Ohm Joon-o, a fund manager at Kiwoom Asset Management, which holds Hyundai stock.
On Thursday, hours after a bleak day for European brands - with Ford announcing a plant closure, Peugeot accepting state aid and Volkswagen posting a big drop in profits - Hyundai said its July-September net profit rose to 2.17 trillion won, a touch above market forecasts and up on last year's 1.92 trillion won.
GROWTH ENGINE STALLING
Hyundai, led by founding family member Chung Mong-koo, bucked the industry slump in Europe and drove up sales in China as Japanese rivals were hit by a popular backlash in a dispute over islands in the East China Sea. Chief Financial Officer Lee Won-hee acknowledged Hyundai benefited from the Japan-China dispute, and would this year report higher-than-expected sales in the world's biggest autos market.
``Hyundai will return to record earnings in the current quarter,'' said Kim Seung-hwan, analyst at Golden Bridge Investment & Securities. ``But the problem is next year. Investors are concerned that Hyundai's growth momentum will stall, which is reflected in the recent share price slump.''
Hyundai shares closed up 3.9 percent on Thursday - their biggest one-day gain in 6 weeks - but have slumped 10 percent this month, underperforming the KOSPI index and Japanese rivals Honda Motor Co Ltd, Nissan Motor Co Ltd and Toyota Motor Corp, as investors fret over the group's long-term growth strategy.
HITTING THE SKIDS
Hyundai expects the global autos market will grow at 3.6 percent next year, slowing from an expected 5.1 percent this year. The European market will shrink by 8 percent this year, b u t by less than 2 percent next year, it said. Hyundai last month slashed its European targets for this year and next, in no way immune from the chill winds of the region's debt crisis.
Overall, Lee said Hyundai would beat its global sales target of 4.29 million vehicles this year.
Analysts warned of a potential earnings hit from an appreciating won currency, which on Thursday broke through the 1,100 level versus the dollar - its strongest in more than a year.
``If the won appreciates further, Hyundai's earnings will decrease,'' said Jung Sang-jin, a fund manager at Dongbu Asset Management, adding Hyundai's earnings will dip next year as the autos market sees ever tougher competition.
While earnings should pick up speed in the current quarter as buyers like the value-for-money a Hyundai car offers in a weak economy, the company's reluctance to expand capacity significantly has investors worried about its ability to sustain strong profit growth over the long-term.
Global sales growth this year and next will be some way below the double-digit growth in 2009 to 2011, according to analysts' estimates compiled by Reuters, and net profit growth is seen slowing to 8 percent next year, from an estimated 14 percent this year and 35 percent last year.
Hyundai is the first of Asia's global automakers to report quarterly earnings. Honda comes out on Monday, with Toyota and Nissan due on Nov. 5 and Nov. 6, respectively.