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Indian Fintech Market Is Expected To Reach $150 Billion By 2025, Says Pankaj Chaudhary The minister of state for finance said India's fintech adoption rate is 87 per cent as against the global average of 64 per cent
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Pankaj Chaudhary, minister of state for finance, speaking at a conference on Wednesday said the growth of Indian fintech startups has been exponential and the market is expected to reach $150 billion in valuation by 2025, as he inaugurated Assocham's international fintech festival. Top officials of the major fintech companies also participated in the conference. The minister said the financial sector in India is going through a transformation and has emerged as one of India's immensely growing sectors. It has also gathered increasing interest from all stakeholders, both within and outside the country.
"A majority of the Indian fintech startups are not even a decade old, but the progress and growth shown by these firms has been exponential over the past few years. Indian fintech market is expected to reach $150 billion by 2025. India's fintech adoption rate is at 87 per cent as against the global average of 64 per cent," Minister said in a statement.
Saurabh Garg, UIDAI CEO, in a news report as quoted as saying, "Aadhaar enabled payment system in a way has revolutionized banking by doing away with the need for having a brick-and-mortar branch. More than 50 lakh of banking correspondents across the country are carrying out 'cash in-cash out' kind of transactions using the system. Aadhaar also offers the ability to easily onboard customers."
Speaking at the conference, Ambarish Kenghe, Google pay vice-president said, "The unified payments interface has made it easy for people to carry out the transactions and the technology is successful because various partnerships have been put in place to deploy it. Partnership is absolutely critical to success."
Highlighting the scope of market expansion through credit card penetration, Kenghe said, "As of 2021, credit card penetration remains less than five per cent in India, while it is one of the biggest retail forms of credit for consumers in India. That figure in the US is 300 per cent because people have multiple credit cards. Crucially, this can also become a key revenue driver for banks and fintech players, which will allow them to fuel more innovation."
According to reports, the global fintech market size was valued at $110.57 billion in 2020, and is expected to reach $698.48 billion by 2030 at a CAGR of 20.3 per cent.


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ALA MOANA (HawaiiNewsNow) - Day three of on-and-off power at Ala Moana shopping center. At two o'clock Tuesday afternoon, electricity was finally restored to the entire mall – but not before some merchants had to think out-of-the-giftbox to stay in business.
80 percent of stores at Ala Moana opened, as usual, for business, but about 50 stores were powerless well into the afternoon.
"It's devastating for business," says Chantal Migita, store manager at Bag'n Baggage.
To compensate, Bag'n Baggage had the bright idea of using flashlights to shop. They escorted customers in and around the store, a few at a time.
When asked how much money she thinks the store is losing, Migita answered, "Tens of thousands. Tens of thousands. And I'm not alone. So I feel really, really sorry for everyone who lost power."
Monday was supposed to be Bag'n Baggage's biggest business day of the year, but after days in the dark, sales figures will likely be way off. They don't know yet if they'll file a claim against Hawaiian Electric Company for lost business or damages. The power company says any claims will be evaluated on a case-by-case basis. Management at Ala Moana says it just wants to get through this critical time.
"We've been really focusing on the actual power outage, trying to get our merchants up and open for business time - the last four days 'til Christmas," says Francis Cofran, general manager of the shopping center.
The problem originated at a HECO substation a block away from the shopping center. HECO workers burrowed under Kapiolani boulevard to repair cables that service the ewa end of Ala Moana.
HECO spokesman Darren Pai says, "We really regret this inconvenience for customers. We have extra crews on duty, and they've been working around the clock to try and restore power."
Shoppers say they're just happy to get in some last-minute gift buying.
"We called before we came to make sure that some part was still open," says shopper Jessica Wallace.
Power outage or not, crowds still turned out in large numbers - squeezing in whatever shopping they could.

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Xiaomi has resumed the Android 8.1 Oreo update for the Mi A1 smartphone. Xiaomi has also added July 2018 security patches with the new OTA update. Xiaomi is rolling out the new update in batches as always and the users who're on the Android 8.0 Oreo will receive an OTA update very soon. As of now, it's unknown whether the users who're already on the Android 8.1 Oreo will receive this update or not. Several users who updated their device to 8.1 Oreo last month confirmed the issues such as battery drain, SMS wiping and more.
Xiaomi rolled out the delayed Android 8.1 Oreo update to Mi A1 users late last month with June 2018 security patches, but the update was immediately pulled because of a critical bug that wiped the SMSes. While some Mi A1 said the update did not wipe their SMSes, most of them noticed that they have lost the SMSes post the Android 8.1 Oreo update. That said, users did not post any bugs after updating to the update with July patches.
The Xiaomi Mi A1 was the company's first Android One device which ran Android 7.1.2 Nougat out of the box. The phone received Android 8.0 Oreo update at the end of 2017, but that too was plagued with issues.
In other news, Xiaomi will be launching the Mi A2 and Mi A2 Lite smartphones on July 24 in Spain. The Mi A2 could be the rebranded Mi 6X handset which was unveiled in China in April 2018. The Mi A2 will also boot Android 8.1 Oreo out of the box, however, Xiaomi will likely announce Android P Beta program for the handset right at the launch event itself. The Mi A2 Lite, on the flip side, is expected to be powered by the Snapdragon 625 SoC and said to be a rebranded version of the Redmi 6 Pro.


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The first-ever esports island has been launched, offering gamers the chance to experience parachute landing just like in the popular game Fortnite. True Gamers partnered with SWNS to create this unique experience.
The island provides an immersive gaming experience for esports enthusiasts, allowing them to test their skills and strategies in a real-world scenario. With the rise of esports as a global phenomenon, this initiative aims to bring the virtual world into reality.
Talker, the author of this innovative project, emphasizes the importance of bridging the gap between virtual and real-life gaming experiences. Through the esports island, gamers can now physically engage in the thrill of parachute landing, enhancing their gameplay and overall enjoyment.
This groundbreaking development showcases the evolution of esports and its impact on the gaming industry. As technology continues to advance, projects like the esports island serve as a testament to the limitless possibilities of the gaming world.


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Awareness of our plastic waste problem continues to grow, prompting campaigns and corporate action around the world. To name but a few recent examples, the Welsh Government and National Geographic are each leading campaigns, Sky is funding solutions for ocean plastic pollution, Unilever, Co-op and Waitrose are developing packaging alternatives, and 42 CPG giants are working with WRAP to eliminate packaging waste in the UK.
This month, Seventh Generation released improved packaging for its dish liquid, while The North Face and Tetra Pak announced new initiatives to reduce disposable cups and plastic straws.
Seventh Generation’s design upgrade for the packaging of its Natural Dish Liquid includes a new bottle and cap that the company says are the first of their kind on the market. The bottle is now entirely made of post-consumer recycled materials (excluding colorant) and the cap – which is now green in color – is made from recycled goods and packaging.
Meanwhile, The North Face is working to eliminate disposable cups from its Endurance Challenge Series (ECS) events. In an effort to reduce waste over the series of 5 races, Hydrapak has been named as the official hydration sponsor of the series and will provide reusable Hydrapak Speedcups™ to runners to use in place of disposable cups through the series.
Content creators for good
Join us as we explore a brand guide to collaborating with influencers and their audiences, as well as the role of content creators as brands themselves in the behavior-change movement, at Brand-Led Culture Change — May 22-24 in Minneapolis.
“We designed the SpeedCup when we saw how much waste was being generated at aid stations during races,” said Morgan Makowski, Director of Marketing at HydraPak. “We’re excited to be partnering with The North Face ECS, which will be our largest cupless partnership in the world, to continue to reduce waste among the trail running community.”
In the past, the ECS has dispensed approximately 140,000 cups per year across its five races. The trend for “cupless” racing is prominent across Europe and a growing movement in North America to minimize debris and offer faster, more efficient aid stations. Joining this movement, The North Face and Hydrapak are providing each registered runner with a lightweight and collapsible Hydrapak Speedcup to reuse at aid stations.
“Reducing our environmental impact in the ECS is an important step, not only are we reducing waste with reusable cups, but we’re helping educate runners and other event hosts about different environmental impacts,” said James Rogers, Director of Sustainability at The North Face.
Aid stations will remain fully staffed and stocked to keep runners fueled and hydrated throughout the races. This year’s ECS kicked off in Washington, D.C. on April 28th, followed by a race in New York on May 5th. Upcoming races include Massachusetts on June 9th, Wisconsin on September 15th and California on November 17th.
The North Face has also been targeting waste from single-use cups and plastic bottles in other ways, such as with its new Bottle Source collection of clothing and tote bags made from cotton and recycled plastic bottles collected from National Park waste streams.
Tetra Pak is also looking at reducing waste from single-use drink containers. Tetra Pak aims to launch a paper straw that is suitable for its portion-sized carton packages before the end of the year, as part of a broader program aimed at addressing the issue of plastic straw waste.
The company has previously worked to encourage customers to push straws “back in the pack” once empty so they can be collected for recycling. Now, it is developing a paper straw that has the strength and safety properties needed to be used on portion size carton packages.
“It sounds simple enough, but there are a number of challenges to producing a paper straw with the required properties,” said Charles Brand, Executive VP, Product Management and Commercial Operations at Tetra Pak. “That said, our development team is confident they can find a solution, and that we’ll be able to offer a paper alternative before the end of the year.”
“Our cartons are already, on average, about 75 percent paperboard, so paper straws are something we know makes sense.”


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Samsung launches 2 Galaxy duos phones
- IPL spot-fixing case: Net widens, police watching 3 more players, other bookies
- IPL 2013: Imperious Brad Hodge powers Rajasthan Royals to qualifier
- Sonia Gandhi, PM Manmohan Singh slam BJP for disrupting Parliament, stalling bills
- IPL spot-fixing: 'Bookie' Vindoo was close to BCCI chief's son-in-law, say cops
- Jessica Lall case: Shayan Munshi to face perjury trial
Samsung Electronics Co Ltd today announced expansion of its `dual sim' smartphone portfolio with the launch of two new models. The launch of `Galaxy S Duos' and `Galaxy Y Duos Lite' would spur the growth of dual sim handset market in India, Asim Warsi, Vice president, Samsung Mobile said at a press conference here.
With the new launch, Samsung now offers 5 dual sim smartphones and a total of 13 smartphone models priced between Rs 6,990 and Rs 42,500, he said, adding that the company expected the smartphone segment to contribute more than 25 per cent to its total mobile volume this year.
Warsi said that in partnership with Reliance, Samsung was offering a deal of 1GB 3G data or unlimited 2G data free per month for six months to all Samsung Galaxy Y Duos Lite buyers.
The company also aimed at a 60 per cent market share in smartphones in India, he added.
- Paddy shortfall blamed for mystery death of procurement officer
- 'Bookie' Vindoo was close to BCCI chief’s son-in-law: cops
- Net widens, police watching three more players, new set of bookies
- Suspected Islamists behead soldier on London street
- Malegaon 2006 case: NIA names four right wing terror suspects
- BJP invokes 'sarcasm, ridicule' against PM


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Mashable: "Smartphones are one of the most talked-about and hotly debated consumer electronics on the block these days, and manufacturers are pumping out more of these devices each month.
So, how are these devices measuring up in the arena of public opinion? A few 140-character user reviews can say a lot about a phone’s early success or failure, and we’ve got details on what social media junkies are saying about a few Android devices, including the Droid X, the HTC Evo, and the HTC Incredible.
In the past year or so, we’ve gone from “smartphones” to “superphones” — slick, sexy pieces of hardware with huge screens, HD capabilities, powerful cameras, zippy processors, impressive browsing capabilities and more apps than you can shake a stick at. Technology has accelerated quickly over these months, and Android devices are competing nicely with Apple’s iPhones. How they compete amongst themselves, however, is another story."


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The Monetary Authority of Macau (AMCM) says “favourable prospects” regarding the city’s exports of services “would underpin Macau’s economic recovery”.
“External demand is expected to pick up as Macau and its neighbouring regions have lifted entry restrictions and moved towards full reopening of borders,” the city’s de facto central bank said in its latest ‘Monetary and Financial Stability Review’, released this month.
The institution added that it expected promotional campaigns to be launched by the Macau authorities with the aim of “attracting regional and international visitors”, in order to “speed up the recovery of inbound tourism”.
Macau should be one of the Asia-Pacific tourism destinations that will benefit soonest and most significantly from the easing of outbound travel arrangements for Chinese, since the mainland authorities discontinued their ‘zero-Covid’ approach at the turn of the year, said Fitch Ratings Inc in a Thursday report.
On January 24 – the fourth day of the latest Chinese New Year holidays – Macau recorded 90,391 arrivals, its highest daily total since early 2020, contributing to a surge in holiday-season arrivals.
The AMCM stated in its latest review of the city’s economic outlook: “Given the low base effect, Macau’s economy is expected to rebound at a double-digit rate for the whole year of 2023.”
But it cautioned: “Nevertheless, as a small open economy, Macau’s economic recovery would hinge on the evolution of the pandemic and development of major export markets.”
Macau’s gross domestic product (GDP) declined by 33.4 percent year-on-year in real terms in the third quarter of 2022, according to official data. The figures showed that exports of services in the three months to September 30 fell by 46.7 percent year-on-year. Of those, exports of gaming services and other tourism services declined by 72.5 percent and 45.9 percent year-on-year respectively.
The city’s GDP had also decreased in the first two quarters of 2022, after growing by 18.0 percent year-on-year in full-year 2021.
As Macau’s new gaming concessions came into effect on January 1, the monetary authority said it expected the city’s six concessionaires to “roll out gradually their investment projects in non-gaming segments, generating new impetus for growth”.
The six Macau operators have as a whole pledged to the government to spend in aggregate a minimum of MOP108.7 billion (US$13.5 billion) on non-gaming and exploring overseas-customer markets during the fresh, 10-year concessions.
Nov 29, 2023Miriam Adelson (pictured in a file photo), the largest shareholder at casino group Las Vegas Sands Corp, is selling US$2 billion of her shares, to be used toward “the purchase of a majority...
Nov 28, 2023
”There’s been a 20 percent or 30 percent increase in our testing staff to handle globally the amount of extra work that we’ve got, and the Philippines and Macau have definitely contributed to that overall growth”
Chief commercial officer of testing and certification firm GLI


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Bon Appetit released the 50 finalists for its annual list of the best new restaurants in America on Tuesday, and two Cambridge restaurants with an emphasis on noodles made the list.
Pammy’s, an inviting spot in between Harvard Square and Central Square that offers a variety of house-made pastas, is one of two local nominees for the food and drink magazine’s “Hot 10.” Named The Boston Globe’s restaurant of the year in 2017 and Boston Magazine’s best new restaurant in 2018, Pammy’s is the debut restaurant from husband and wife duo Chris and Pam Willis.
The second local restaurant to earn a nod from Bon Appetit is Yume Ga Arukara, a Porter Square eatery that opened in the Porter Exchange building in fall 2017 and specializes in savory beef udon bowls. The restaurant is down the street from another noodle spot with the same ownership team, ramen restaurant Yume Wo Katare.
Elsewhere in New England, two restaurants based in Portland, Maine, made the top 50: Drifters Wife, a wine bar serving New American tapas, and Rose Foods, a modern Jewish deli renowned for its bagels.
Bon Appetit will reveal the final Hot 10 list on Aug. 14.


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MADRID – Kazakhstan will join on April 1 the ATA Carnet System, an international customs system that allows for the duty-free and tax-free temporary import and export of goods for up to one year.
“The implementation of the ATA system shows the commitment of Kazakhstan to promoting economic growth and trade facilitation,” Ruedi Bolliger, chair of the International Chamber of Commerce-World Chambers Federation World ATA Carnet Council, said in an ICC press release.
The Chamber of International Commerce of Kazakhstan will become the 76th member of the ATA Carnet System, according to the ICC.
The ATA Carnet allows for the temporary international transfer of goods without the need to undergo each country’s specific import and export formalities, thus expediting and reducing the cost of the process, the Spanish Chamber of Commerce says.
This system is especially used by businesses temporarily importing professional equipment for projects and events, providing samples to customers or exhibiting at trade fairs.
More than 180,000 carnets are issued each year worldwide for goods with a total value of more than $21 billion.


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Feldstein on U.S. Saving
My Harvard colleague Martin Feldstein boldly ignores this piece of wisdom in his article in the May/June 2006 issue of Foreign Affairs. Here is his punchline:
What can be safely anticipated is that the savings rate of American households will start to increase. It is not clear when that increase will begin, but household saving cannot continue indefinitely at a zero or negative level. Saving will begin to rise because the forces that have promoted rapid consumption growth and depressed saving over the past decade will not continue....
This coming rise in household saving will eventually be good for the U.S. economy. It will make the United States less dependent on capital from the rest of the world and permit American businesses to raise the rate of investment in the equipment, software, and structures that increase productivity and the future standard of living. But a higher U.S. savings rate will also pose a challenge for the rest of the world, because it will mean a reduction in the exports to and an increase in the imports from the United States.


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Alibaba has partnered with Valentino to create an virtual 3D store that can be browsed by visitors to Alibaba’s Tmall Luxury Pavillion.
The store will be mirrored in real life by a pop-up in Beijing’s fashionable Sanlitun district, as the two brands look to integrate the online and offline shopping experience.
Tmall Luxury Pavillion is aimed at showcasing the products of luxury brands, with the virtual store promoting Valentino’s Garavani Candystud range.
Jessica Liu, president of Tmall said: “Valentino’s simultaneous running of a physical Candystud Factory pop-up store in Beijing and online with a Pavilion Tmall Space is a perfect illustration of how luxury brands can leverage Alibaba to engage their consumers and take advantage of the New Retail opportunity.”
The virtual store opens its doors on Thursday whereas its real life counterpart opens on Friday, coinciding with New York Fashion Week.
Alibaba is looking to engage with more brands in this way as it looks to challenge it’s main rival JD.com.


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According to Thomson Reuters which tracks 23 retailers, September comparable store sales, or same store sales, increased 5.1%. That’s better than analysts’ average estimate which expected a 4.6% increases. Comparable store sales increase in September 2010 was 2.7%.
Reasons for the increase varied: from late back to school shopping, increased promotions to get consumers into stores and increase transaction amounts to Hurricane Irene’s hitting the East Coast in late August and perhaps pushing sales into September.
Said Ken Stumphauzer, a retail analyst for Sterne Agee & Leach Inc.:“It’s incongruent with what’s going on in the market. It suggests that theU.S.economy is fine.”
While retailers reported an array of positives and negatives reflected in their figures, retail analysts said the relative strength is a positive sign heading into the crucial holiday shopping period.
“It’s setting up well for retailers, barring an implosion in Europe,” Ken Perkins, president of Retail Metrics, said. “Retailers are pulling out all the stops to drive traffic with deep discounting. Consumers need to be enticed to shop and that’s what is happening.”
Holiday Sales: Still at Risk?
Among the better performers were specialty chains catering to teens, young women and families such as Zumiez, Buckle and Limited Brands did much better than expected. Target Corp and Kohl’s Corp, both of which launched new exclusive lines, also beat Wall Street’s forecasts.
Others, such as Wet Seal and JCPenney, fell short of expectations. The largest percentage decline reported today was a 4% drop at Gap Inc.
“The customer is making choices, but importantly is showing for the second straight month that they could handle price increases…they will just buy one or two fewer units,” Brian Sozzi, retail analyst at Wall Street Strategies. However, Sozzi said there’s potential softness in “commodity-type women’s offerings which has middle America budget and job pressure written all over it.”
“To become excited, more retailers have to be doing well, and doing well on a more consistent basis month to month,” Sozzi said. “Even with those retailers beating consensus sales and earnings forecasts for third quarter, customer traffic is spotty, and as further higher ticket prices hit, may become spottier, hence elevating the risk to the holiday season.”
September’s comp sales may indicate that in a number of cases significant amounts of pre-holiday products were bought—at big markdowns in many cases—allowing for extra floor space.
“Looking at consumer confidence, employment and stock market volatility, I would think sales would begin slowing going into the holiday season,” Barbara Kahn, director of the Jay Baker Retailing Center at the Wharton School, told the Wall Street Journal. “That makes the holiday season itself hard to predict.”
Among the retailers who today reported monthly sales figures were:
●Macy’s Inc. reported a 4.9% growth in comparable store sales, beating analysts’ average estimate for 4.4%. Total sales rose 5.3% to $2.3 billion, from $2.18 billion last year. Online sales were especially strong, rising 43.3%.
Terry Lundgren, ceo, said “our business remains on track, despite the persistently negative macroeconomic news. We are feeling quite confident that we will continue to gain market share as we head toward the holiday selling season.”
Macy’s said expects third-quarter comparable store sales increases at the high end of its previous guidance of 4% to 4.5% and it still expects fourth quarter comparable store sales to be in the 4% to 4.5% range.
●JCPenney posted a 0.6% decline in comparable store sales while analysts’ average estimate expected a 0.6% increase. Last September, JCPenney had a 5.1% comparable store increase. Total sales declined 3.6% to $1.426 billion, from $1,480 billion last year.
While sales overall were softer than anticipated in September, children’s apparel and women’s accessories were the better performing merchandise. The southeast region was the top performing geographic region.
The department store retailer now expects its third quarter comparable store sales to be flat instead of the previously forecast 2% to 3% increase.
●Kohl’s reported a 4.1% in its comparable store sales, nearly double the 2.2% increase that was expected. Total sales increased 5.8% to $1.63 billion. Kevin Mansell, ceo, credited the launches of the Jennifer Lopez and Marc Anthony collections as “generating excitement” that brought in consumers. Kohl’s also opened 31 new stores in September.
●Dillard’s Inc. reported that its comparable store sales increased 3%. Total sales, which excludes the company’s CDI Contractors LLC construction business, rose 2% to $542.5 million from $532.3 million last year. Sales in the centralU.S. had the strongest showing, while sales in Eastern states were slightly below the overall gain. Sales in the West were the weakest.
● Nordstrom Inc. said its comparable store sales surged 10.7% easily beating analysts’ average forecast for a 5.2% increase. Total sales rose 16.3% to $943 million. For the quarter to date, comparable store sales climbed 9T. Total sales increased 14.6% to $1.63 billion
●Saks Inc.’s comparable store sales rose 9.3%, topping analyst estimates for a 6.5% increase. Total sales rose 7.3% to $275 million from $256.4 million a year ago. Best performing classifications included women’s footwear, handbags, fashion jewelry, cosmetics, women’s contemporary apparel, and men’s apparel, shoes, and accessories. Saks Direct also performed well during the month.
●Bon-Ton Stores said its comparable store sale dropped 3.6%. Total revenue fell 4.1% to $286.9 million. “Although our comparable stores sales performance did not meet our expectations, our strategic initiatives of footwear expansions, increased penetration of updated merchandise, and pilot store renovations with the ‘re-discover’ branding in those markets gained traction,” said Tony Buccina, vice chairman/president.
Best performing classifications included cosmetics, footwear, hard home and men’s furnishings.
●Stage Stores reported its comparable store sales declined 0.7%. Total sales of $118 million were flat compared with last year. Best performing classifications included cosmetics, footwear, home & gifts and junior’s. Geographically, the Southeast and Midwest regions had comparable store sales gains.
●Target posted a 5.3% increase in its comparable store sales better than the 3.9% analysts’ average estimate forecast. Total sales rose 6.5% to $5.92 billion from $5.56 billion last year.
Gregg Steinhafel, ceo, said the results were “somewhat” above the store management’s own expectations. “We experienced strong sales results throughout the month and across a broad array of merchandise categories,” he said, citing beauty and clothing as best sellers in addition to groceries. The discount retailer also said shoppers spent more at Target and more browsers were converted into buyers.
The company predicts its October comparable stores sales will rise in the low- to mid-single digit percentage range.
●Gap Inc. reported its total comparable store fell 4% which followed analysts’ average projection for a 3.8% decline. Total revenue edged up slightly to $1.35 billion from 1.34 billion a year ago.
But comparable store sales declined across divisons with international sales sliding the most, down 13%. Gap North American’s comparable store sales fell 4%, Banana Republic and Old Navy both declined 1%.
Glenn Murphy, chairman/ceo, acknowledged that the results were unimpressive, but remained optimistic for the future.
“While there were some bright spots across our brands and business units, we’re clear and focused on the steps necessary to improve our business performance going forward,” he said.
●Limited Brands Inc. reported a comparable store sales increase of 11%, more than double the 4.6% increase analysts’’ average estimate forecast. Total sales rose to $818.6 million from $735.8 million last year.
●Destination Maternity said its comparable retail sales, which include online sales and same store revenue, climbed 2.4% in September. Online sales surged 35.5%. For its fourth quarter, comparable store sales declined 4.1%. Total revenue rose 4.2% to $129.4 million.
Ed Krell, president/ceo, said the quarter’s performance was hurt by promotions and additional markdowns instituted to drive sales and manage inventory. He also said that the company’s leased department expansion with Macy’s likely hurt its fourth-quarter same store sales by between 1 and 2 percentage points and hurt its full-year performance by about 1 percentage point.
●Buckle Inc. reported a 10.3% increase in comparable store sales, sailing past the 3.8% that analysts’ average expected. Total revenue sales climbed 13% to $98.4 million. For the year to date, comparable store sales gained 8.7%, with total revenue up 12.2% to $646.2 million.
●Zumiez posted a 10.1% increase in comparable store sales, below the 17% increase in September 2010 but ahead of analysts’ average estimate for a 3.2% increase. Total sales rose 18.3% to $52.9 million. The company reported an increase in transaction amounts. Best performing categories were men’s footwear, accessories and clothing for boys and juniors, but sales of hard goods were soft.
Zumiez expects its third quarter net income a share will range from 40 cents to 41 cents, up from a prior estimate range of 37 cents to 39 cents on sales between $150 million to $152 million.
●Wet Seal Inc. posted a 0.3% drop in its comparable store sales when analysts’ average estimate expected a 3.8% rise. Total revenue rose 4.8% to $53.6 million.
Business slowed at Wet Seal and Arden B stores after the Labor Day weekend, said Susan McGalla, ceo, who added that margins on merchandise improved because of “disciplined and more strategic” promotions and inventory management. Online revenue fell 22% as the company focused on selling more items at full price.
Wet Seal said it expects to earn between 5 and 6 cents a share in the third quarter in line with previous forecast. But it said comparable store sales will be “slightly below” its outlook of “mid-single digits” growth.
●Ross Stores raised its third quarter earnings estimate after posting a stronger-than-expected September when comparable store sales increased 5%. Analysts’ average estimate expected a 3.4% increase. Total sales rose 9% to $726 million.
“September same store sales were ahead of our expectations for a 1% to 2% gain as our value-focused offerings continue to resonate with customers,” said Michael Balmuth, vice chaiman/ceo. “Juniors, dresses and shoes were the strongest merchandise categories, whileFloridawas the best-performing market.”
The company now expects to earn between $1.16 and $1.18 a share in the third quarter, up from its previous estimate of $1 to $1.04 per share.
●Stein Mart said comparable store sales fell in 1.7 % as sales in the Gulf Coast and Southeast slowed. Total sales fell 2.5% to $98.9 million. The company said its weakest results came in the Gulf Coast and Southeastern states other than Florida, while sales in California and the Midwest were better than in other regions. Best performing categories included dresses, intimate apparel, costume jewelry, men’s furnishings, and home textiles.
●Cato Corp. said its comparable store decreased 3% from the prior-year period. Total sales declined 2% to $70.7 million, from sales of $71.9 million last year.
“September same-store sales were in line with our recent trend and reflect the very challenging retail apparel environment,” said John Cato, chairman/president/ceo.
While the September figures were below original estimates, the company said it still expects third quarter earnings to be at the low end of the range of 18 to 21 cents a share.
●TJX Cos., which operates T.J. Maxx, Marshalls, and HomeGoods, said comparable store sales rose 4%, exceeding company expectations. Total sales were up 6% to $2.2 billion. Noting that Marmaxx, the division with T.J. Maxx and Marshalls, posted a 5% comparable store sales increase, Carol Meyrowitz, ceo, attributed the increase to sales of brand name apparel and home furnishings.
“We continue to see customer traffic increases and believe our above-plan comp store sales speak to the draw of our great values. It’s important to note that our September sales were not promotionally driven and merchandise margins in September remained solid,” Meyrowitz said.
●Costco Wholesale Corp. reported a 12% rise in September same store sales, ahead of 10.1% analysts’ average expected. Nonetheless the warehouse club saw its margins hurt and said it is raising its membership fees by 10% on Nov. 1.


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SEOUL -- Hyundai Motor Co. posted a fall in quarterly profits on Tuesday because of a sixfold jump in spending on research and development, aimed at boosting sales with new models.
But it is hoping for a profit rebound later this year on brisk sales of its new models, which include the EF Sonata sedans, particularly in the United States, where it is increasing sales faster than its Japanese rivals.
The European Union is another good bet, Hyundai's Chief Financial Officer Chae Yang Ki told Reuters, with the company taking advantage of the strength of the euro against the won.
"The first quarter was the worst for Hyundai. But the situation seems to be getting better from April," said Choi Yong Kyu, a fund manager at KEB Commerz Investment Trust Management.
BEAT ANALYSTS' FORECASTS
The maker of Santa Fe sports utility vehicles and Elantra compacts earned 417.6 billion won ($350.6 million) for the three months ended March 31, compared with 586.6 billion won a year ago. The profit beat analysts' forecasts of 336.6 billion, because Hyundai provisioned less than expected on warranty costs.
Research and development spending in the first quarter jumped to 58.5 billion won from 9.7 billion won a year ago.
Affiliate Kia Motors Corp. saw profit rise more than 40 percent thanks to brisk sales of recreation vehicles and forecast a bright outlook for the year.
Hyundai is betting on exports, mainly to the United States, to drive growth this year in the wake of weak demand at home.
"We plan to boost our brand value in the large passenger car segment in the U.S. market," Chae told investors.
At present, its bread-and-butter models in the United States are compacts and mid-sized automobiles. It lacks a wide range of models to compete with rivals in the large car segment.
Chae said Hyundai, 10-percent owned by U.S.-German auto maker DaimlerChrysler AG, would reach its sales targets largely by "creating demand through new models and incentives."
The South Korean carmaker said it expected 28.2 trillion won in sales this year, which excludes sales from its overseas plants, up from 26.3 trillion won last year.
The carmaker hopes to sell 1.82 million vehicles this year versus 1.72 million a year ago, with a strong rise seen in exports to North America.
It also expects operating profit to rise 44 percent in 2003 from a year ago to 2.3 trillion won and plans 2.6 trillion won in investments, up 73.3 percent.
"Sales rose mainly due to strong demand for higher-value-added automobiles such as the Santa Fe sports utility vehicle and the New EF Sonata mid-sized sedan," it said.
Hyundai's sales rose to 6.09 trillion won in the first quarter from a revised 5.69 trillion a year before. A weak South Korean won against the euro in the first quarter also helped sales in Europe, making Hyundai cars cheaper to buy.
Chae told Reuters Hyundai planned to boost European exports "as much as capacity allows", taking advantage of a strong euro.
Hyundai ranks seventh in U.S. sales with a 2.5 percent market share, just after Nissan Motor Co. and above Mitsubishi Motors Corp. Both Japanese auto makers saw U.S. sales decline last month.


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In 1970, the Postal Service delivered fewer than 85 billion pieces of mail. Thirty years later, mail volume had more than doubled to nearly 208 billion pieces of mail — average growth of about 3 percent per year. The Postal Service relied upon this dependable growth in mail volume to finance the expansion of its network. The traditional business model worked.
As the COVID-19 pandemic continues to unfold, the importance of the Postal Service has never been so evident. But did you know the Postal Service historically has played an important role in our nation’s response to natural disasters and emergencies?
A new...Read More


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Computers, sports memorabilia, rare coins, designer fashions, and even cars.
These are just a few of the items offered for sale every day on legitimate online auction sites. They're also just a small sample of the items used to lure unsuspecting victims into online auction fraud schemes.
Most of the one million-plus transactions that take place each day on these websites are legitimate; just a fraction actually result in some type of fraud.
But even that fraction adds up. According to the latest report of the Internet Crime Complaint Center (IC3), more than 70,000 complaints made to IC3 last year -- about one in every four -- involved online auction scams.
There are a variety of auction frauds, but here are some of the more common ones to watch out for:
What are they? Find out after the jump...
- Overpayment fraud targets the seller. A seller advertises a high-value item--like a car or a computer--on the Internet. A scammer contacts the seller to purchase the item, then sends the seller a counterfeit check or money order for an amount greater than the price of the item. The purchaser asks the seller to deposit the payment, deduct the actual sale price, and then return the difference to the purchaser.
- Wire transfer schemes start with fraudulent and misleading ads for the sale of high-value items being posted on well-known online auction sites. When buyers take the bait, they are directed to wire money to the crooks using a money transfer company. Once the money changes hands, the buyer never hears from them again.
- Second-chance schemes involve scammers who offer losing bidders of legitimate auctions the opportunity to buy the item(s) they wanted at reduced prices. They usually require that victims send payment through money transfer companies, but then don't follow through on delivery.
And needless to say, in all of these schemes customers never get what they pay for.
Who is behind the scams. Mostly individuals. However, there are exceptions: criminal enterprises from West Africa are especially fond of the overpayment scams, while Romanian crime groups favor the second-chance schemes.
We're working to address the problem. We've had a number of successful auction fraud investigations, worked collaboratively with other agencies, including


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Artificial Intelligence (AI) is quickly finding a place at the heart of the enterprise, with it set to affect 25 percent of technology spend going forward, according to Accenture. Enabling better-informed decisions by augmenting human intelligence with powerful computing and precise data analysis, and then automating the tasks that follow, AI and automation – like an AA battery – have the power to energise business and help them drive towards success.
Their rapid emergence has been driven by three factors. The cloud has made huge amounts of computing and processing power available, on demand. The data deluge – where 90 percent of the world’s data has been created in just the last two years – has brought the critical mass needed to power the smart algorithms that drive these new capabilities. New AI tools that can easily be integrated into a business as an engine for innovation, are helping organisations more easily adopt them and gain benefit.
With so many potential applications for AI, where should companies start, especially given Forrester’s caution that in 2018, 75% of AI projects will underwhelm because they fail to model operational considerations? Here are five key areas for consideration:
1. Driving value from data: We live in a world where data is big and insight needs to be in real-time. As data sets become larger, new, automated, AI-enabled tools will speed up the ability to find the needle in the haystack and then ensure appropriate action is taken. These tools will also have an incredibly powerful role to play in how data is managed. Taking on the tasks of running, patching and optimising databases and data warehouses, these new offerings will deliver unprecedented availability, performance, and security—at a significantly lower cost by eliminating the cost of human error stemming from manual processes.
2. Rebalancing the cyber warfare: Another area where humans can’t keep up is around the rapidly expanding challenges inherent to enterprise cybersecurity. There are too many devices, too many applications, too many users, too many infringements and too many megabytes of log files for humans to make sense of it all, and then react in a timescale that would make a difference, in today’s world, that potentially could be milliseconds. Businesses will need to rely on AI and automation to automate the detection, prevention and response to security breaches, performance anomalies, and vulnerabilities. Only by using machines to fight machines will companies be able to reprioritize and rethink about how they defend their information.
3. The search for operational excellence: Businesses are under increasing pressure to reduce time-to market for new applications and services. At the same time, they are overwhelmed by the distributed nature and volume of their operational systems, finding their siloed form hindering their ability to make good decisions, troubleshoot issues and drive cross business collaboration. Cloud, while simplifying things in certain areas has added an extra dimension, making it increasingly difficult for IT teams to optimise enterprise systems and prevent catastrophic failures. AI can automate the many various monitoring and control requirements needed to keep enterprise systems running at their best, helping identify anomalies that human teams would have missed, enabling new levels of optimisation.
4. Boosting business performance: Embedded AI capabilities within core business applications such as enterprise resource planning (ERP), human capital management (HCM), supply chain management (HCM), Sales and Marketing are helping make the decision-making process simpler and more efficient for business professionals across the organisation. In Finance this has the potential to improve activities like supplier negotiations, especially at times like end of quarter reporting when companies are also focused on optimising cash flow needs and balancing costs. In HR, recruiters would be better able to identify the best candidates in the shortest time. For Marketing professionals AI is already being used to help them run more personalised campaigns around next best offers.
5. Creating conversation from chat – Finally, as shown by Bajaj, a good area to start with AI is chatbots, especially given the rising importance of the customer experience set to be a key competitive battle ground for 2018. With new AI enabled platforms available that make it quick and easy to build and train Intelligent Bots without the need for specialist AI skills.
Without doubt, AI will be an increasingly important element of the business environment, and is not something that can be watched from the sidelines. Given that the benefits of AI are really quite simple – speed from automation and the ability to make better decisions – if the guy in front makes a better decision than you and does it faster, you are going to be outraced. You can’t afford to sit back and wait.
- Niral Patel, Managing Director Oracle South Africa
CES: So long, and thanks for all the beer!
Last week, the Las Vegas expo showed off its fun side with state-of-the-art technologies for enjoying beer, writes BRYAN TURNER
From craft beer-making machines to robots that pour beer, CES had more beer than usual in Las Vegas last week. And even free beer if you found the right stand. Stampede’s saloon-style booth offered beer to visitors who tried out its latest drones, virtual reality, and other gaming products. No beer tech, though.
Here are some of the beer technologies that stood out:
LG HomeBrew – Craft beer made at home
LG’s HomeBrew craft beer-making machine, debuted at CES 2019, brings the brewing process home thanks to single-use capsules, a self-cleaning feature, and an algorithm optimised for fermentation.
Like a Nespresso coffee machine, the beer maker uses capsules, which contain malt, yeast, hop oil and flavouring. At the press of a button, LG HomeBrew automates the whole procedure from fermentation and carbonation to ageing. A companion app lets users check HomeBrew’s status at any time during the process, from their handsets.
The beer machine not only offers a simple way to make craft
Designed with discerning beer lovers in mind, HomeBrew allows for in-home production of batches of more than 4 litres of beer in a variety of styles. The following five distinctive, flavoured beers are available now:
- Hoppy American IPA
- Golden American Pale Ale
- Full-bodied English Stout
- Zesty Belgian-style Witbier
- Dry Czech Pilsner
The only catch? It takes about two weeks to make, depending on the beer type.
“LG HomeBrew is the culmination of years of home appliance and water purification technologies that we’ve developed over the decades,” said Dan Song, president of LG Electronics Home Appliance & Air Solutions Company. “Homebrewing has grown at an explosive pace, but there are still many beer lovers who haven’t taken the jump because of the barriers to entry, like complexity, and these are the consumers we think will be attracted to LG HomeBrew.”
Click here to read about the party speaker that holds beer and robots that pour beer.
CES: Alienware gets Legend-ary
At CES in Las Vegas last week, Dell’s Alienware released a family of high-end, thin, light, and affordable machines for both amateur and professional gamers – and a new identity.
Alienware marked CES 2019 as a brand milestone with the debut of a new design identity, Alienware Legend. It aims to set a new bar of excellence for what gamers want most – performance and function. Alienware says it evaluated multiple concepts and chose one that was the biggest and boldest departure from its current look.
Alienware Legend, says the company, stays true to the brand’s core design tenets, taking cues from its deep roots in sci-fi culture and its early industrial designs, to distinguish the brand from the rest of the industry. The new Legend design is optimised with cutting-edge thermal cooling technology to achieve and sustain overclocking power, improved AlienFX lighting, and ultra-thin screen borders. It also unveiled a new “three-knuckle hinge” design that reduces the overall dimension while creating a stronger assembly, all combining to yield a better gaming experience.
“We’re excited to come to this year’s CES with some truly groundbreaking products, next-gen software and strategic partnerships that will bring more people to experience PC gaming and advance the industry,” said Frank Azor, vice president and general manager of Alienware. “The legend design answers the call for more and better from our gaming community, and the new G Series laptops will make PC gaming even more accessible to those looking for high-performance gaming at a cost they can appreciate.”
Click here to read about Alienware Legend in action with the Area-51m and m-series laptops


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Like building more.
On the one hand, the BMW i8 is enjoying mass praise from both the media and driving public because, well, it's exceeded expectations. Many have described it as the blueprint for future high-performance sports cars. Others have heralded it due to its extensive use of carbon fiber and other lightweight materials. And despite its $136,650 base price, BMW simply couldn't meet buyer demand. There's actually a four month waiting list. Not bad at all for a car powered by two electric motors and a turbocharged three-cylinder engine.
But combined that's a total of 357 hp and a 0-60 mph time faster than an M3's. See why demand is so high? And now BMW has announced, according to Automotive News Europe, that it has doubled i8 production at its plant in Leipzig, Germany. That's means 20 BMW i8s per day will now roll off the line. Will that production boost satisfy demand? Probably not completely, but BMW does want to keep the i8 exclusive.


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Self-catering holidays in the UK may be allowed from April but foreign breaks won't be legal until May 17 at the earliest, Boris Johnson has announced.
The Prime Minister said by April 12 at the earliest self contained accommodation, campsites and holiday lets where indoor facilities not shared with other households, can reopen.
People can stay in a self catering cottage but only with their own household.
Foreign holidays will not be allowed until May 17 at the earliest as a review is conducted into the safety of reopening borders.
The travel industry has expressed relief at the prospect of people in England being allowed to take summer holidays.
Paul Charles, chief executive of travel consultancy The PC Agency, who co-founded the Save Our Summer campaign, said this was "the news the travel sector really wanted".
What do you think about the Boris Johnson's roadmap? Join the debate in the comments below
He went on: "I'm sure virtually everyone in the travel sector will be pleased with the greater clarity and a timeframe of May for enabling those who've been vaccinated to travel overseas.
"By then, there will be over 16 million people eligible to travel abroad to see family, or for business or leisure, in a safe and responsible way."
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Mr Charles said the 850 firms who backed the Save Our Summer campaign will "welcome the Prime Minister's boost to confidence".
He went on: "It means more consumers can be reassured that their 2021 summer trip can take place, or they can get a refund or refix their travel date.
"They can book knowing that this summer will be even safer than last.
"We will need to see the finer details in the future reviews for the sector's restart but the Prime Minister's comments are certainly far more positive and realistic than those made by some ministers just two weeks ago."
Earlier this month, Transport Secretary Grant Shapps said foreign holidays will remain banned until "everybody" has had a coronavirus vaccine.
His comments sparked an angry response from the travel industry, which accused him of undermining consumer confidence.


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Before coronavirus, Robert Wood Johnson medical student Shari Bodofsky spent her days in classes, working in a radiation oncology unit with breast cancer patients, and running a handmade toy company online in her spare time. Within a matter of weeks, that all changed. Now Bodofsky, a Cherry Hill native, is sheltering at home, taking classes online, and is using her sewing machine to make masks instead of toys. Her initiative, “Shari’s Butterfly Effect,” donates handmade masks to food pantries, food banks, nursing homes, rehabilitation facilties, and other places where “people are in close contact and should be wearing masks but are really struggling to get them,” Bodofsky said.
The decision to start making and donating masks was an easy one for Bodofsky. “When COVID-19 hit, I thought, I have a sewing machine, I have fabric, I know how to do this,” she said. “The opportunity presented itself to do a good thing. It’s an interesting transition from having a little toy business online to my whole apartment [filled with] stacks of fabric and scissors and irons and cutting boards.”
As a medical student, Bodofsky understood firsthand the need for safe health practices, and was inspired to


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Along with claiming the trophy for winning the inaugural Hamilton Sevens last week, the Fiji team also had some extra luggage to take home, thanks to Te Wānanga o Aotearoa kaimahi.
Kaiwhakarite Matua Messina Waitaci says the players – considered by many people the rock stars of the Sevens world – are often from rural villages where many people struggle to make ends meet.
“The cost of living is as high as New Zealand but they earn only one or two dollars an hour,” she says.
“They basically live off the land, and clothes are expensive there.”
So Messina organised a collection of used clothing from Te Puna Mātauranga kaimahi and ended up with more than 20 big bags of clothes for the players to take home with them.
The players had a 32kg baggage allowance each so she bought bags for them all to fill with donated clothes.
Kids’ rugby boots and women’s shoes – for the players’ girlfriends - proved the most popular finds, she says.
Messina has since spoken to whānau in Fiji and says they were overwhelmed with the generosity of those who donated the clothes.
“Families there love and really appreciate the donated clothing.”
It’s not the first time Messina has organised for clothing to be sent to Fiji, and it won’t be the last.
She has previously sent school sports uniforms over and every time she goes to Fiji, she takes as much clothing as she can.
Messina’s son Ekaki’s whānau is from the village of Vatukarasa and his uncle Ratu Josua Vakurinabili played in Hamilton last week.
Seeing someone from his village in Hamilton brought the rugby star to tears, Messina says.
“Josua took my son around, trying to spend as much time with his nephew as possible. Seeing the generosity from us Kiwis made him so happy.”
Soon after the team headed home, Messina was receiving messages and photos from Fiji of people wearing the donated clothes.
“They’re absolutely stoked,” she says.
Messina says anyone heading to Fiji should consider taking unwanted clothing and donating them to local villages.
The most popular items include baby, children’s and women’s clothing and rugby or netball clothing.


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The Outdoor Business Alliance of WNC are tremendously excited about North Carolina’s new Outdoor Recreation Director, a new position and office in the NC Department of Commerce starting in January 2018.
Lots of hard work from all kinds of great NC companies and national organizations went into making this happen, and we had tremendous support from our legislators. With support like this from the State, and a great network of Gear Builders and industry partners, we’re stoked to see what happens next. We look forward to working closely with the new Director to help them achieve great success in their work, and grow the outdoor industry across NC!
North Carolina Heads Outside With New Office of Outdoor Recreation
The Outdoor Business Alliance of WNC assist in the creation of new statewide outdoor position
Asheville, NC (July 1, 2017) – For North Carolina locals, the state’s beautiful beaches, rugged mountains and sparkling lakes have long been a must-visit playground for adventure seekers. As of June 28, 2017, the State is also recognizing the impact of its outdoor recreation thanks in part to efforts from North Carolina’s (NC) first organized outdoor coalition, the Outdoor Business Alliance of Western North Carolina (OBA).
During the 2016 SHIFT conference in Wyoming – an annual gathering working to protect our public lands – OBA Director Noah Wilson and founding OBA member Tom Dempsey met with officials from three Western States – Washington, Utah and Colorado – that had already piloted a state Outdoor Industry Director model. Recognizing its potential impact for outdoor industry and economic development in NC, Wilson, Dempsey, and OBA member Dave Petri worked with a dedicated group of local outdoor brands to help implement a similar program in NC.
“The SHIFT workshop was such an eye opener for us, and I remember leaving that conference with a strong conviction that this was something our state needs,” Wilson reminisces about his time in Wyoming. “It was also something OBA is uniquely suited to support and leverage, so we all got excited about how we could use our awesome natural recreation resources and our network of companies and supporters to grow the industry here in NC.”
The group’s efforts – that also included work from Mountain Khakis, VF Corp, Manning Fulton & Skinner, and Outdoor Industrt Association – paid off, with the North Carolina General Assembly officially creating the position of the Outdoor Recreation Recruitment Director on June 28th. The position will begin January 1st, 2018 as part of the Commerce Department, and will involve promoting economic development in outdoor-based recreation and manufacturing statewide.
“Less than one year ago this seemed like a long-shot dream. Thanks to the vision of our elected leaders and a committed group of outdoor industry pros, we’ve made this happen,” said Dempsey, President of SylvanSport. “I am proud to see North Carolina at the forefront of this effort to recognize and grow the outdoor recreation economy.”
Statistics aided their efforts, with a recent Outdoor Industry Association report stating NC generates $19.2 billion from outdoor recreation and 192,000 jobs. Legislation efforts were led by Senator Rick Gunn of Alamance County, with broad bipartisan support from around the state.
“As a North Carolina based outdoor industry manufacturer and brand, we are excited to see the state recognize the value of our industry. We look forward to working with the new director on growing our powerful economic impact,” said Petri, VP of Marketing at Nester Hosiery.


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Terveystalo prepares for prolonged exceptional situation by launching new co-operation negotiations
The exceptional situation that has begun due to the corona epidemic is still causing uncertainty. Terveystalo is preparing to continue its mitigation measures if demand does not recover during the summer.
In its Q1 interim report, Terveystalo stated that the market environment is still uncertain due to exceptional measures related to the containment of the COVID-19 epidemic, which decreases demand for Terveystalo's services in the short term. In April 2020, the revenue from corporate and private customer groups declined by approximately 30 percent year-on-year.
In May-June, restrictions to curb the corona epidemic have been gradually eased and lifted nationwide, but the progress of the epidemic and the pace of recovery in health care demand as a result of these measures remain difficult to predict.
“Despite the fact that this is a temporary change in demand caused by an exceptional situation, and the current environment is no longer as difficult as it was in April, we need to prepare for the possibility that demand does not recover to normal during the summer. Should that be the case, we need to continue adjusting our operations during the second half of the year,” commented CEO Ville Iho.
In order to prepare for the possible prolongation of the exceptional situation, Terveystalo will start companywide co-operation negotiations concerning temporary layoffs of up to 90 days in cases where the work is temporarily reduced or terminated.
Negotiations will start on 22 June 2020 and concern the whole group due to exceptional nature of the situation.
Terveystalo will also continue to make cost adjustments by, among other things, reducing external service purchases and re-prioritizing investments.
“It has been a long spring in the midst of uncertainty. I am sorry that this uncertainty continues and the fact that we have to prepare for fall by starting new co-operation negotiations", Ville Iho continues.
“Record high customer satisfaction during spring, our earlier success in switching to remote service channels and launching new services in the middle of the epidemic is a testament to our ability to find new opportunities even in the midst of difficult situations. We firmly believe that we will emerge from this temporary situation stronger than before,” Iho commented.
Terveystalo in brief
Terveystalo is a listed company on the Helsinki Stock Exchange. Terveystalo is the largest health care service company in Finland with net sales and network. The company offers versatile primary and secondary health care services for corporate and private customers and the public sector. The nationwide network covers 300 locations across Finland. The clinic network is complemented by 24/7 digital services.
In 2019, Terveystalo had approximately 1.2 million individual customers and approximately 3.7 million visits to a physician. Terveystalo employs some 13,000 health care professionals. www.terveystalo.com


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(Bloomberg) -- Staples Inc., which is in the process of bidding for the consumer business of ODP Corp., said Chief Executive Officer Sandy Douglas will step down from his post and be replaced on an interim basis by Chairman John Lederer.
The changes go into effect on June 18 and the board is looking for a permanent CEO replacement, Staples said in a statement Wednesday. The company and Douglas “mutually agreed” to the change, without providing further details.
Earlier this month, Staples, which is backed by Sycamore Partners, said it offered $1 billion in cash for part of ODP’s business that includes the Office Depot and OfficeMax retail stores and websites. ODP’s board said it is reviewing the proposal.
Lederer has served as chairman of Staples since 2017 and as a senior adviser at Sycamore Partners since the same year, the company said.
©2021 Bloomberg L.P.


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About 200 kilometers (125 miles) from Islamabad, the northeast town of Darra Adam Khel has been the center of the illegal arms trade in this corner of the world for more than 150 years.
Various types of firearms made in houses and workshops in the city are sold in more than 2,000 stores.
It is estimated that more than 25,000 people are involved in the manufacture of weapons, including pistols, specialized sniper rifles and automatic pistols.
Armed conflicts in the region and the lack of state authority until 2018 have played a major role in the rise of the illegal arms trade in the city.
Read more: Illegal industry thrives in Pakistan despite firearm import ban
A counterfeit gun can be cheaper than a cellphone in Darra Adam Khel, where most fake guns start at around 30,000 Pakistani rupees ($160).
A knockoff AK-47, one of the nation’s most in-demand firearms, costs around $110.
Besides guns, customers can also find different types of bullets, magazines, body armor, binoculars and other equipment.
Here, workshops are usually attached to stores selling weapons. While a gunsmith can make a gun in a few hours, producing a rifle can take up to six days.
Many gunsmiths, however, are killed due to the dangerous use of outdated technology and machinery.
Resident Mohammad Awais confirmed that gunpowder is a major cause of these deaths, especially in hot weather.
Yet the industry is a major source of income for many townspeople, he said, adding that the arms trade also employs a significant number of children.
Although the industry is illegal, most firearms produced here are sent to other parts of the country or even beyond the borders of Pakistan.
The city also attracts many local and foreign tourists, adding to Dara Adam Khel’s fame with videos and photos they take and share on social media.


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By Marianne Kelly
As Akshay Kakkar was asked more frequently by his parents to pick up takeaways, especially when guests arrived, he decided there had to be a better way which might also earn some money.
The result is a start-up on-line food delivery service, Quick Jandal, which has been formed by Akshay and three other Year 13 Ormiston College students.
The business is based on a mobile app through which users will be able to place an order from one of Quick Jandal’s signed up restaurants or takeaway outlets.
The venture is part of the nationwide Lion Foundation Young Enterprise Scheme. The team will take part in a Dragons Den event at the end of this month and hopes to launch the app at the start of next month (June).
Akshay, who is the group’s chief executive, says he thought it would be convenient and make his life easier if there was a service that could do his parents’ takeaway pick-ups for him.
“Also, taking into account the extremely busy lifestyles people lead nowadays, an online delivery service could potentially meet the needs of a large demographic,” he says.
“On sharing this thought with the group we came up with the idea of an online food delivery service that would serve the south-east Auckland area.”
Throughout this year’s first term the team conducted its market research reaching the conclusion that 50,000 people would actively purchase the app in the first year, with an average eatery receiving an estimated 15 orders a week in the first quarter.
They have targeted a five kilometre radius from Chapel Road encompassing Ti Rakau Drive in the north, through East Tamaki, Flat Bush, Clover Park and Otara.
So far the business has signed up 10 restaurants covering a variety of cuisines including Thai, Indian, and pizza. Operating hours will be 10am-10pm. The team expects to hire delivery people who will drive their mopeds, but they will also personally do deliveries in the weekends or when they get time off school.
Akshay says Quick Jandal hopes to continue the business operations after the Young Enterprise programme ends in November.


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The Tim Hortons restaurant chain has chosen the Dayton area as one of two test markets in the U.S. for its new panini sandwiches.
“Dayton, from our perspective, is one of our key growth markets,” said Mike Meilleur, senior vice president of U.S. operations for Tim Hortons. The company’s U.S. operations are based in Dublin, Ohio outside of Columbus. The other test market is Rochester, N.Y.
Tim Hortons has 23 locations in the greater Dayton area, including stores in Troy and Bellefontaine that were renovated last year to become concept restaurants for future store renovations, Meilleur said. The new panini sandwiches to be tested over the next few weeks in Dayton and Rochester were offered at the Troy and Bellefontaine stores after the renovations, and were “very well-received” by customers, Meilleur said. If the broader test-market reception is equally successful, the sandwiches will be rolled out nationwide, the vice president said.
The panini sandwiches being test-marketed here include Tuscan Chicken, Pesto Chicken, Chipotle Turkey, Smoked Ham & Cheese, Bacon, and Tomato & Cheese. The price is $4.29. Diners can order a half-sandwich and soup for $5.59. A Grilled Cheese Duo is also offered, for $3.29.
Tim Hortons, which is most associated with breakfast, has been moving more aggressively to capture a greater share of the lunch market, Meilleur said. Its restaurants offer deli sandwiches, wraps and toasted sandwiches, as well as macaroni and cheese menu item that also was initially test-marketed in Dayton. Lunch and dinner account for more than 70 percent of dollars spent at “quick-service” restaurants, which include fast-food chains.
The company kicks off a four-week print and broadcast advertising campaign in support of the panini sandwiches rollout today, March 28, Meilleur said.
Tim Hortons opened its first Dayton restaurant in 1997 in Centerville. Its stores employ more than 500 people in the Miami Valley, a Tim Hortons spokeswoman saidTweet


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What does the future hold for the electric car industry?
As electric cars drop in price and increase their range, they’re set to become an increasingly common sight on UK roads. The government plans to ban sales of all diesel and petrol cars and vans by 2040, pushing more drivers towards buying electrically powered vehicles. Yet there’s a possibility that the country’s transition to EVs may happen even sooner, as financial subsidies and falling costs continue to sway the public.
Household brands such as BMW, Volkswagen, Ford and Volvo have made pledges to become greener in the coming years, by making more plug-in hybrids or placing billion-pound investments in the production of fully-electric vehicles. These models are set to have improved performance – more torque and better handling – which will appeal to a wider market. Major supermarket chains such as Lidl and Sainsbury’s now often have outdoor charging points for electric vehicles.
Batteries that can hold more charge and allow longer-distance travel are being manufactured more frequently thanks to global investment. As batteries become cheaper, EVs are expected to fall in price, too. As electric cars are comparatively lightweight, future models are potentially set to be faster than conventional diesel or petrol models.
Combine this with the push towards driverless cars, advanced by tech companies like Tesla and Google, and there’s every chance that EVs will make the streets look quite different in 15 years’ time.
Thinking of pulling the plug on petrol and going electric? Read the guide to buying an electric car by motors.co.uk and find out if an EV could work for you.


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Rising Inflation and Cybercrime are the Biggest SME Fears for 2018
Rising inflation and cybersecurity are the most common fears among British SMEs for 2018, according to new research from Barclays Business Banking.1
SMEs believe these issues are most likely to negatively impact their growth in 2018, while consumer demand is most widely expected to have a positive impact.
Inflation, cyberattacks, and state of the UK economy more widely feared than Brexit
According to Barclays’ annual SME Hopes and Fears Index1, which asks decision makers at UK SMEs which factors they expect to help or hinder their business growth in 2018, inflation is most cited as a fear (by 43%). It can increase costs for a business, and also impact the wider economy, with 36% fearing the effects of prices rising faster than wages, which could put pressure on consumers.
Inflation is followed by the risk of cyberattacks (41%) and the state of the UK economy (40%). These factors are followed by fraudsters targeting small businesses (39%), and Brexit and UK politics (35% each), which rank sixth.
Top 5 SME fears for 2018:
|Factors SMEs expect to hinder business growth in 2018||Ranking|
|State of the UK economy||3 (40%)|
|Fraudsters targeting my business||4 (39%)|
|Price inflation outpacing wage rises||5 (36%)|
In May 2017, Barclays launched a major engagement campaign, Barclays DigiSafe, to raise awareness of cyberattacks, fraud and scams. It includes a £10m national advertising campaign, and provides customers with additional tools to protect themselves. Dedicated support for the bank’s one million SME clients has included free support clinics.
SMEs have high hopes for consumer demand and are more positive about technology
When it comes to the factors business owners expect to positively impact their business growth, consumer demand is most widely tipped to have a positive impact, with 50% expecting it to do so. This is a change from last year’s results2 when just 22% expected it to have a positive impact.
SMEs have become more positive about technology, with 48% expecting that availability of better technology will have a positive impact on their business (37% last year), and 42% expecting e-commerce/digital presence to do so (23% last year).
Top 5 SME hopes for 2018:
|Factors SMEs believe will have a positive impact on business growth in 2018||Ranking|
|Consumer demand||1 (50%)|
|Availability of better technology||2 (48%)|
|E-commerce/ digital presence||3 (42%)|
|Investment in the local area||4 (34%)|
|International marketing opportunities||5 (28%)|
Reflecting the uncertain times, there is a near even split among SMEs about the outlook for 2018, with 46% believing it will be a year of opportunities, and 49% predicting a year of challenges.
Most SMEs plan to maintain the same level of investment (65%) and employee numbers (68%) as for 2017. However, those making changes are generally positive, with 21% planning to increase the number of employees, compared with 5% planning a decrease, and 20% planning an increase in investment, compared with 8% planning a decrease.
Stuart Brown, Head of SME Scotland at Barclays Business Banking, commented: “The research reflects small businesses being empowered by new technology and e-commerce. Compared with a year ago, more think these developments will have a positive impact on their business. From our work with small companies, we see them making more use of data and online services, including our own, that help them manage their marketing and finances more easily and effectively. By making the most of these opportunities, SMEs can increase sales, cut costs and save time, strengthening their business.
“Inflation is clearly a worry, and in particular the potential for prices to rise faster than wages. Business owners are clearly taking a prudent and cautious approach to the year ahead. However, there are positive signs of SMEs investing more and hiring more staff.”
¹ 2017 research (looking at 2018 hopes and fears) was conducted by Opinium on behalf of Barclays, 500 online interviews with UK senior decision makers/business owners in SMEs defined as having 250 or less employees, between 9th– 16th November 2017.
2 2016 research (looking at 2017 hopes and fears) was conducted by OnePoll on behalf of Barclays, 500 online interviews with UK senior decision makers/business owners in SMEs defined as having 250 or less employees, between 12th– 19th December 2016


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Fingerprint sensors are all the rage these days on premium smartphones. You will not find a new high-end device launching without one. Even mid-rangers and low-end handsets are starting to offer this feature. That is, as long as they are not running Windows.
Fingerprint sensors are found on Android handsets and iPhones, but not on Windows Phone or Windows 10 Mobile devices. That is, in part, because Microsoft has not implemented support for this feature in its operating system. However, that is soon about to change.
Windows 10 Mobile will gain fingerprint sensor support this summer, according to a WinHEC presentation. This will be introduced as part of Windows Hello, and Microsoft says that it is able to recompile the same driver that is used on Windows 10 to work on the ARM-designed Windows 10 Mobile too.
The best approach when it comes to offering a fingerprint sensor is integrating it in the device itself, but Microsoft will also give hardware makers the option to offer it as a peripheral. I'm not sure if this is something that we will ever see on consumer devices, as users expect these sort of features to work without any accessories attached.
Microsoft also notes that there will be both touch and swipe support for fingerprint authentication. The former is the preferred and recommended option, as it works better in real life. If manufacturers want to implement a touch sensor, Microsoft recommends ones that measures 10 by 10 mm. A square sensor is not ideal for front positioning, so we may see vendors embracing other shapes.
We will have to wait until this summer for Microsoft to roll this feature out, presumably around the same time its Windows 10 Anniversary Update debuts and, hopefully, test it on some new hardware.


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GST remains a distant dream
There has been no mention of GST in the Union Budget 2016-17. But the industry still has hopes for long term benefits. Some experts share their views on how a better tax regime could have been a game changer.
Not a single mention of the goods and services tax (GST) in the Union Budget 2016-17 has left many with a mixed bag of emotions. Experts says that GST presents an opportunity to rationalise and re-engineer transportation and logistics networks, given the inefficiencies with taxes based on the crossing of administrative boundaries or border checkpoints.
The prevailing complicated tax structure in India means that logistics decisions, including the choice of setting up inventory and distribution centres, are taken based on the tax regime such as central sales tax and state valueadded tax (VAT) rates, rather than on operational efficiency.
GST has the potential to unleash a new era of developing logistics infrastructure and take investments to the next level. From the infrastructure point of new, this tax structure would reduce the number of warehouses but increase their sizes. Truck delays due to roadblocks, toll and other stoppages which add to the logistics can be reduced by this new tax structure. Secondly, the ‘ Make in India’ initiative also needs the much- awaited tax to enable the country to become a manufacturing hub. It is necessary that the foreign investors find it encouraging to do business here and indirect and complicated tax regime possibly will become the impediment to a smooth business. GST would also reduce the cost of manufacturing both from a tax perspective as well as on compliance front. Some experts express their views. Exceprts:
Arnaud Cauchy, Managing Director, Gefco India
“It has been a long wait but we have faith in the system and hope it takes a positive turn. It is definitely going to benefit the logistics industry as a whole and especially the shipping industry by bringing down the product prices.
The implementation of GST will promote the development of logistics parks, and free-trade warehousing zones will speed up formation of regional hub-based was expected to increase GDP by 1 per cent.
If not implemented, there may be financial losses due to investment made and underutilisation of resources.
Deferment of GST will drastically impact the several initiatives taken by the government for the growth of the economy, efforts of making the logistics sector seamless in the country and on ease of doing business.
GST has the potential to reshape the taxation in India and bring more clarity and transparency into the system.
Also, anticipated may shrink.”
Vineet Director, TCI
“GST is the most critical tax reform that India has been longing for. The investments in infrastructure and technology by the logistics players will be absorbed by market demands in coming time. The benefits of GST are immense in terms of reducing economic distortions, creating a nationwide single tax market, widening of tax
Managing Employment numbers, hoping for a successful ‘Make in India’ initiative, will also be hit badly.”
Shantanu Bhadkamkar, Managing Director, ATC (Clearing and Shipping)
“It is most unlikely that GST in its true form will be rolled out. GST coupled with ‘ Make in India’ would have given a big impetus to the manufacturing sector in particular and economy in general.
Logistics industry, particularly the organised logistics industry, greatly depends on the manufacturing sector for growth. Investments in logistics sector need to be done far ahead of the actual requirement and it needs to be factor while investing, unless the investors have speculated on any particular location. They will anyhow benefit by growth in the manufacturing sector.
GST in original form that is single window, single law, single declaration, single return, to name a few was expected to increase GDP by 1 per cent (which translates in to acceleration of growth rate by about 15 per cent) on count GST alone. This would have contributed hugely to improvement in ‘Ease of Doing Business Index’, and improvement in ranking of ‘Ease of Doing Business Index’ would result
Deferment of GST will impact several government initiatives for economic growth and efforts to make logistics seamless With a deferment, the opportunity for reduction of logistics transaction costs in India will be lost and this could prove costly


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Over the past year we have heard various verdicts, predictions and thoughts around artificial intelligence and its impact on society. Anyone from great scientific thinkers such as Stephen Hawking, to academics and scientists have expressed their thoughts around AI, and also emphasised the importance of providing sufficient information and knowledge around this ‘hot topic’. So where does the general public stand in this? Because after all, it will affect all of us – not only the thinkers and the writers.
The survey was conducted in June and included 2,100 consumers from five global markets, the U.S., Canada, the U.K., China and Brazil. The survey initially asked ‘what are your feelings around AI?’, involving questions ranging from what AI-powered devices they used, to their concerns around AI, and what sources they would trust for accurate information about the topic.
What the researchers found was surprising – not only to them, but potentially for a lot of people out there as the media paints the picture of the public living in general fear about robots taking over the planet and eventually our lives.
“Yes, consumers are worried about job loss, security issues, and privacy infringement. But, for the most part, consumers are accepting of AI”, Harvard Business Review writes.
The results from the survey revealed the following:
- The majority of the consumers asked view AI’s impact on the society as positive, rather than negative (45% and 7%, respectively) – This also relates to their personal life, where the majority asked believes the impact of AI will have a positive impact, rather than negative (52% and 7%)
- The understanding of AI varies – two thirds of those questioned claims to have some knowledge of AI whereas two in 10 knows a lot.
- Only 8% of the global respondents believes AI is science fiction, and will never materialise – 92% expects the arrival of AI to come eventually, where 52% believe it is still in its early stages, and 40% believe its fully developed.
- The trust in AI is very dependent on experience and expertise – this information is not new, as it has been mentioned frequently the past year, that the key to trusting AI, is in knowledge and education about its potential. The survey revealed that the most credible information comes from hands-on experience (46%), and technology experts (46%). In terms of handling AI, they would also rely on academics and experts within the field (39%), and product reviews (38%).
- Consumers are experiencing, or encountering with AI on a frequent daily basis, either via the media, Internet, social media, TV, movies and the news. 59% said they had either seen or read something AI-related within the 30 days prior to the survey. Surprisingly to some maybe, 82% of these consumers reported that their recent interaction with AI had left them with a positive impression.
- How far would people allow to include AI in their daily lives, without feeling uncomfortable? The research revealed that they would allow it to get quite far. Two-thirds or more said they would trust AI with handling anything from medication reminders, travel directions, entertainment, targeted news, and manual labour and mechanics. More than 50% trust AI to deliver elder care, health advice, financial guidance and social media creation. More than 40% would trust AI to cook, teach, police, drive and provide legal advice. AI in childcare was ranked at the bottom of the list.
- Undoubtedly – the probability of job loss due to AI was the largest concern among the consumers, with 82% believes it will lead to job loss, whereas 18% believes it will contribute to job creation.
This could be related to the issue of insufficient knowledge about how AI can be used as an assistant rather than something that would take over your job permanently.
Harvard Business Review concludes that consumers seem ready to accept AI into their daily lives, with the impression they believe AI is at the moment being.
The perceptions are definitely painted by the media, and despite some concerns, people seem willing to allow AI to relieve them from time-consuming tasks, in order to make their lives easier.
The most important takeaway from these survey-results are definitely the importance of addressing the fear of jobs being replaced by AI and increased cyber-crime.
This article was re-purposed from: https://hbr.org/2016/10/what-do-people-not-techies-not-companies-think-about-artificial-intelligence


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US Economy Faces New $1.4 Trillion Threat
Almost every electronic manufacturer depends on this one resource. And it's running dangerously low. It's not lithium. It's not gold. It's not hydrogen. But this new industry could be one of the best opportunities for investors in 2021.
See Why Tech Giants Are Hoarding This Resource
Investor Alert: Argentina Loaded With "White Gold" Opportunity
Experts expect the global lithium market to grow by 500% due to the explosion of electric vehicles and green energy. And one small-cap company just snagged a large lithium deposit in a renowned South American location.
Read about this once-in-a-lifetime opportunity


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NETHERLANDS: Ahold announces changes to finance organisation
More than a year after it was hit by a massive accounting scandal, Dutch retail giant Ahold has announced further changes to its finance organisation as part of its "Road to Recovery" strategy.
The company is setting up a Business Control for Retail (BC) division, which will be established within the company's finance organisation.
"The main area of responsibility for BC is to both support and challenge the retail arenas in reviews and analysis of actual performance as well as of future plans. Additionally, BC will also have the company-wide responsibility for the coordination of Ahold's real estate strategies and capital budgeting process," the company said.
Brian Hotarek, currently CFO of the company's US Retail unit, has been appointed chief business controlling officer with overall responsibility for the BC function.
Joost Sliepenbeek, currently senior vice president and controller at corporate headquarters has been appointed chief accounting officer with overall responsibility for the accounting and reporting department. Both appointments are effective 15 April 2004.
"These appointments support Ahold's overall strategic ambitions, particularly with regard to its business initiatives, and improvements to the company's control environment and also to ensure reliable and transparent financial reporting," said Ahold CFO Hannu Ryöppönen.
Dutch retailer Ahold has announced the completion of the sale of its chain of 198 Wilson Farms and Sugarcreek convenience stores, part of its US subsidiary Tops Markets....
Dutch retailer Ahold has announced that Kerry Underhill has been appointed senior vice president corporate communications, effective 1 July 2005....
Dutch retailer Ahold has reported sales and operating income little changed in the first quarter of 2005, but net income was sharply down because of a one time gain in the first quarter last year....
Dutch retailer Ahold has announced today (Tuesday) that its chief financial officer Hannu Ryöppönen is to leave the company....
Danish based dairy company Arla Foods is opening a new representative office in Hungary....
Dutch retailer Ahold today (Wednesday) announced that it had signed a new €2bn (US$2.5bn) credit facility with a syndicate of fifteen banks. ...
Dutch retail giant Ahold has said its net sales declined 1.0% to €13.0bn (US$16.5bn) for the first quarter of 2005....
Supermarket company Giant Food, a subsidiary of Dutch retailer Royal Ahold's US arm Ahold USA, has announced restructuring plans for the remainder of 2005 and 2006....
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Online Betting Trends this 2023
Going from a few billion dollars to over $81 billion in a decade is unprecedented in any industry. This is true of the online gambling industry. And, with 5G on the horizon, this industry is no longer expanding.
Online Casino Popularity
For decades, the gambling industry’s defining features were land-based casinos, slots, and poker games. COVID-19, on the other hand, changed everything. Today, opening an online casino with low overhead is easier than opening a physical one. As a result, online casinos transformed the industry and have also increased the number of cases of fraudulent identities, posing several KYC challenges for online casinos and sports betting websites.
According to Slotegrator, there will be a 15% increase in interest in opening an online casino in 2022. One example is Bet88; Bet88 PH is a popular online casino.
Changing Payment Ecosystem
Many experts believe that the collapse of the FTX international exchange in November 2022 will reduce interest in cryptocurrency payments. However, their concern may be premature: players are already accustomed to using e-wallets, and cryptocurrencies are spreading worldwide.
Those who have used cryptocurrency are unlikely to return to cash payments, and the anonymity provided by cryptocurrency is highly valued. As a result, cryptocurrency is unlikely to disappear, though Bitcoin may give way to other currencies. Slotegrator monitors this issue regularly and updates the payment module on its digital online casino platform Moneygrator.
As players seek new gambling methods, cryptocurrency casinos are becoming increasingly popular. These casinos accept bets in virtual currencies such as bitcoin and Ethereum. The popularity of cryptocurrency casinos is likely due to two factors: first, they provide a different experience than traditional online casino sites.
Second, because all transactions are conducted via blockchain technology, they are more secure than traditional gambling sites.
Despite FTX’s demise, cryptocurrency is here to stay. The anonymity provided by cryptocurrencies is unparalleled, making it profitable for users to gamble without using credit cards. In addition, cryptocurrency gambling offers a one-of-a-kind experience to players who prefer to use cryptocurrencies rather than traditional payment methods.
Mobile Casino Games
Mobile casino gaming provides something that traditional land-based casinos need to: convenience. During COVID-19, mobile apps for slots and table games skyrocketed in popularity, promising future growth.
Consider it a battle between online streaming services like Netflix and Amazon Prime and traditional movie theaters. Although the latter will remain relevant, the former has managed to disrupt users’ viewing experiences.
Online registration, depositing funds, and playing poker is the simplest and most convenient way for anyone to gamble from anywhere.
Another gambling trend will be the legalization of the gambling industry. Among all other trends, legalization paves the way for the gambling industry’s increased adoption rates. Although the federal government of the United States only legalized gambling in 2018, each state has its set of laws that govern its legality.
We can expect several states in the United States and countries worldwide to legalize gambling in the coming years, specifically in 2023. As a result, there will be higher adoption rates as more people enjoy sports betting online and offline.
In 2023, online gambling will undergo plenty of development. You can expect significant changes in the industry with more understandable interfaces, excellent customer service, and innovations such as augmented reality slots.


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Innovation is conquering ever larger spaces in Italian companies, even among small ones
businesses up to 5 employees. According to an analysis by Aruba-Idc, 60% (60.5%) of Small and Medium Enterprises with 1 to 5 employees say they are attentive to innovation. The investigation reveals a particulate attention especially within the more structured SMEs, that is, with between 6 and 20 employees, who say they are “very attentive” to the issue in 71.6% of cases. The study – which shows the evolution of SMEs and the growth of digitization thanks to the Pec, the Certified Electronic Mail – also shows other positive data: 60% of the companies involved adapt quickly to new ways of working digitally and 75 % focuses on finding new solutions to improve their daily work.
The largest Italian cloud provider and active in data center services, web hosting, e-mail, Pec and domain registration, and Idc, a global company specializing in market intelligence, advisory services and event organization in the digital and ICT sector, they wanted to investigate on the “level of digitization achieved by Italian small and medium-sized enterprises and understand how one of the key tools of digital transformation, namely the Pec, is supporting them in this path “.
According to Istat data, there are over 200,000 SMEs in Italy, “a figure that demonstrates how these realities really represent the national entrepreneurial fabric” observe the analysts of Aruba and Idc. Nonetheless, they add, “there is still a tendency to believe that digitization in a small company lags behind the enterprise level” but the data collected shows that this is not really the case. The new research from Aruba and Idc involved a sample of 300 small and medium-sized enterprises in the various sectors – industry, commerce, finance, professional services, personal services and local public administration.
“Change is no longer as scary as it used to be: almost 85% of the market examined in the survey shows substantial openness with respect to the theme of innovation “comments Gabriele Sposato, Marketing Director of Aruba.” The sudden need for digitization due to the health emergency has increased awareness among SMEs linked to the importance of innovative tools to face their work and it is only 15% to express some reservations for change, even before innovation “underlines the manager.
Therefore, a large part of the sample interviewed is sensitized to the importance of innovation within the life of the company. This is largely due to the Trust Services – including Pec, digital signature and electronic invoicing – which during the pandemic they have supported millions of companies and individuals by facilitating operations and communications that in times of lockdown would have been difficult or even impossible.
In detail, the Pec was considered important for the digitization of their business by over 80% of the interviewees. Not only that, the survey showed that 98.5% of companies use the Pec on a continuous basis, with an interesting frequency of use: 82% use it at least once a week. The companies that belong to the finance, local public administration and commerce sectors are those that declare a more frequent use; on the contrary, industry and services (professional and personal) are the sectors with a slightly lower frequency of use.


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Our industry specialists have a deep knowledge and understanding of the sector you work in. They combine this with a commitment to providing the smart advice that will help you grow your business with confidence.
UK GDP is expected to contract by 11% in 2020Business investment will drop by 14%Export levels expected to drop by 19% as Covid-19 and Brexit create double-threat to international trade
Reliance on EU market for exports means trade deal vital for region
Retail sales record best result since February despite another sharp fallLow consumer confidence means road to recovery remains uncertain, cautions BDO Head of UK Retail, as June marks five consecutive months of negative sales
Reputational issues top the list of risks to businesses 70% of businesses have experienced an event that has threatened its reputationOne in three (35%) of businesses believe they have a reactive approach to reputational risk, rather than proactive.
Mid-sized businesses under pressure with three quarters (75%) of companies having less than six months of cash reserves
Immediate stimulus package for manufacturers should lead measures to boost investment and save jobs.