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You’ve heard about it: car price in Singapore are among the world’s highest — if not the home for the most expensive cars across the globe — thanks largely due to the government’s efforts to encourage public transportation modes. Whether you are taking a car loan or if you are buying a new car straight from the car dealer, car prices are sure to be high.
But what if you want your first car, or if you still need a private car in Singapore to move around the city state, especially with the COVID-19 pandemic making a lot of people think twice about availing public transport? That’s where extremely low car loan down payment schemes come in, as financial institutions provide buyers the chance to pay for the car in tranches, instead of paying in one whole sum. Find out more on the cheapest car in Singapore.
But in recent years, the zero down payment car loan method has attracted a lot of car buyers as such measures would not require a huge purchase price before a car buyer can take their motor vehicle home. But is availing of this scheme, despite some glaring disadvantages and difficult requirements, even worth it?
How much can you get from car loans?
Before jumping off to any offer that says you do not need to make any car loan down payment, it is good to have a basic understanding of the procedure behind the selling of a car in Singapore. Basically, the Monetary Authority of Singapore (MAS) has placed limits on financing terms or duration and loan amount to ease demand for vehicles — still in line with the bid to limit traffic and encourage public transport.
What this does is set a cap on the loanable amount: for a motor vehicle with an open market value (OMV) of less than or equal to S$20,000, the loan to value (LTV) amount or the part of the payment that finance companies can shoulder for a buyer is at a maximum of 70 percent. For a car priced over S$20,000, the maximum amount to be loaned was set at 60 percent.
These are actually relaxed rules already, as the government used to require customers to pay down payment of either 40 or 50 percent of the car’s OMV – for a maximum loan value of 60 or 50 percent.
So technically, it is impossible to get a zero down payment loan, because if the loan to value is at 60 percent for cars worth over S$20,000, the buyer would be required to pay the remaining 40 percent as down payment.
How long should the car loan tenure be?
Regardless of value or make or loan to value, car loan tenures in Singapore are set at a maximum loan tenure of seven years — another factor that makes zero down payment a far-fetched scheme, as monthly payments would be off the charts.
Regardless if you avail of the zero down payment scheme or not, the loan tenure will still be at a maximum of seven years — which naturally leads to bigger monthly contributions.
Is zero down payment even possible?
But zero down payment schemes exist thanks to finance companies and institutions partnering with car dealers or car houses, where the car houses themselves take a loan from the bank or the firm to shoulder the cost of the car. This usually happens with pre-loved cars, but new offers are also now featuring vehicles fresh off the dealership.
Under this procedure, car buyers would then settle the loan amount separately with the bank — and then let customers ‘own’ the car with zero down payment.
Car subscription and zero down payment
There are some cases where owning a car is treated like subscription to a streaming service, where customers are required to pay a subscription fee monthly as if the buyer was leasing the car. Zero downpayment car loans usually have a fixed term: users can ‘own’ the car for six months, and then shift to another car they would prefer.
Payments are often based on usage also, with mileage being a factor in how much people would pay.
A lot of customers in Singapore are attracted to this scheme due to the extremely high prices of cars in the Southeast Asian country, but there may be several disadvantages to it.
Too good to be true? What’s the catch?
The top of mind concern about acquiring cars through zero downpayment methods is that buyers would have to pay a very huge sum of money compared to the car’s OMV, or compared to regular financing schemes.
That is because a finance company is sure to impose higher interest rates as a result of the buyer not shelling out any money to drive the car home. There are instances wherein the actual paid money to the financing institution almost doubles the car’s open market value.
Possible debt trap?
As a result, there were beliefs that availing of zero downpayment for a car purchase may lead to a debt trap, because of a possibility that loan availers can no longer cope with the higher interest rates — which would then lead to defaulting on debt obligations and possible debt consolidation.
Second, because banking companies are shouldering the expenses for the car, they would make sure that buyers can actually repay the loaned amount — which means more checks and scrutiny over a buyer’s gross monthly income, monthly salary, income tax statement, compared to ordinary car loans.
Rejected applications, legal issues
A lot of applicants have reported being rejected because they do not meet one of the criteria presented by banks, like having a high credit score and having no bad records on loan dues.
Also, there are concerns that such a scheme may actually be illegal if discovered by Singaporean authorities, because as mentioned earlier, the Monetary Authority of Singapore requires that car loans cover at most either 60 or 70 percent of the car’s open market value.
In a 2016 news article from Yahoo Singapore, the website noted that they were able to find dealers on sgcarmart.com that are offering 20 percent downpayment schemes or even lower — like the zero downpayment method or the so-called “zero dollar drive away” deals.
The story noted that these dealers may have been “flouting the law” as the Monetary Authority of Singapore does not allow these loan methods.
Zero down payment vs regular financing schemes
To better understand how much zero downpayment would cost you more, here is a table comparing how much it would cost to own a car through zero downpayment or through regular financing schemes.
For this table, acquiring a 2019 Mazda 3 Sedan with hybrid technology through a zero downpayment scheme in Carro assuming that the buyer drives 1,250 kilometers per month; and through normal financing schemes at sgcarmart.com.
|Mazda 3 Sedan Mild Hybrid (2019)
|Carro (zero downpayment)
|SGCarmart (7 years to pay)
|Minimum of 6 months
|Insurance, 24/7 Roadside assistance, Maintenance and Service, Customer support, Road tax
|Certificate of Entitlement, Additional Registration Fee, Road tax (6 months), Vehicular Emissions Scheme
|Total price after term
|S$12,210 (6 months)
|Total price after 6 months
|S$12,210 (6 months)
|S$6,684 (without down)
S$40,251 (including down)
Customers have to remember though that after the term, owners would have to return the cars to the company, in this case, Carro. But if you take a car loan, the new car is essentially owned by the customer – or the finance company initially before it is transferred to the buyer.
For other zero downpayment methods which result in ownership of the car:
|Car priced S$70,000 on a 7 year term
|Regular car terms
|S$94,500 (3.5% interest per annum)
|S$83,160 (1.88% interest per annum with OCBC
|Price after 6 months
|S$4,158 (without down)
S$29,106 (including down)
Other financing/ car ownership options
Of course, there are other options if you are wary of zero downpayment schemes, and if your application does not get approved. As stated above, you can opt for the other traditional loan applications, or other direct deals and financing packages with a car dealership.
Customers can also directly find a financial institution that will provide options suitable for their current financial standings.
Then, there is always the choice of buying used cars from a previous car owner or second-hand car dealers: while these may go through financing schemes also, there is a wide array of options in Singapore, with the pre-loved car industry growing especially with the COVID-19 pandemic.
Zero downpayment is not really a bad option especially if choices are limited, due to circumstances like financial constraints. But choosing zero downpayment must be thought of intently because high-interest rates would surely have another effect on a person’s finances.
- With zero downpayment that is actually a car subscription scheme, the customer does not immediately get ownership of the car and maybe even more expensive in the long run.
- Zero downpayment schemes would require most banks and finance companies greater scrutiny of personal activities like monthly income, outstanding loan, just to get that loan approval
- Buyers with a good financial standing only get a small reprieve if they opt for zero downpayment offers, because the monthly obligation that will be paying would be way higher from a normal car loan. However, it is handy for people who cannot afford huge downpayments.
Want to apply for a loan but don’t know which financial institution in Singapore is the right option for you? With a few clicks away, Instant Loan can automatically connect you with the most suitable financial institutions that can grant you 6x worth of your salary. Get our free loan quotes today!


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As thousands descend upon NRG Stadium in Houston, Texas for this Sunday’s Super Bowl 2017, millions worldwide will watch the big game online through livestream and experience its epic moments solely through social media. The Super Bowl remains a TV-centric event though audiences are now viewing the Super Bowl and/or Super Bowl-related events (before, during, and after) on Facebook, YouTube, Snapchat, and Instagram with copious amounts of content both generated and consumed.
Spurring the growth of social media engagement and viewership online for the Super Bowl are some of its biggest social media stars including the players themselves, their outspoken celebrity fans, enigmatic commentators, and more. The televised Super Bowl provides the game while social media and its power users provide the priceless behind-the-scenes and insider content found no where else.
See our infographic for more information on how to watch the Super Bowl online (via foxsportsgo.com and the NFL’s official mobile app) and who to follow for the best game day experience:
While several key players are on social media, the ones we’ve featured are some of the biggest (most-followed) and active with consistent posting and content on the Super Bowl. In addition to both the NFL and the teams’ own social channels, the hashtags identified are useful in surfacing related content that may trend before, during, and after the Super Bowl.

domain: news


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Tipstone will be run by Richard McLaren, who was formerly managing director of data and services for Nine’s digital arm Mi9, and is aimed at helping companies to understand client behaviour and demands. Nine also owns commercial free-to-air television and events businesses.
“I think it’s a recognition that the insights of a media company that we have developed over the last 10 years are incredibly valuable for a whole range of sources outside of media," Mi9 chief executive
“Suddenly your role as a media company means you can be a much better partner to marketers than you have been in the past."
Tipstone will look to take advantage of customer information from more than 14.5 million active accounts across a number of outlets including ninemsn.com.au and Ticketek, as well as Microsoft services Outlook, Skype and Xbox Live.
Nine last year bought out Microsoft from the former joint venture that formed Mi9 . As part of the agreement with Nine, Mi9 continues to sell advertising on Microsoft products, while using the global software manufacturer’s technology and data.
Mr McLaren said Tipstone’s access to about 70 per cent of Australian digital accounts would give it a competitive edge over rival media companies that are ramping up their investment in “big data".
“What makes Tipstone different is our coverage of the Australian online population and that we can take a marketer’s investment in customer insights and then use our own data to help them reach and have meaningful conversations with their customers," he said.
Tipstone will also partner Roy Morgan Research, which will give the venture access to behavioural analysis used by media buying agencies to target marketing campaigns on behalf of clients.
Roy Morgan chief executive
Fairfax Media, publisher of The Australian Financial Review, last year appointed
Woolworths buys in
Mi9 sees Tipstone as a potential competitor to data analytics business Quantium. Supermarket chain
The Australian Financial Review


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Due to COVID-19 causing a ongoing Pandemic, Delivery has become a HOT issue in the Cannabis Industry. Along with Food & Home Goods, Cannabis has become a category that many consumers now connect with regular deliveries.
But with anything that is controlled by multiple states, there are allot of regulations.
The following states allow cannabis delivery under a specific regulatory regime, either via retail license or a specific delivery license:
Arizona, Arkansas, California, Colorado, Maine, Maryland, Massachusetts, Michigan, Nevada, New Mexico, New York, Oregon, Rhode Island, Vermont.
Massachusetts, is in it’s infancy stage of Cannabis Delivery.
Each State is taking a slightly different approach, But there’s a clear eagerness to develop a licensing structure around this market demand.


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Sachin Tendulkar has a message for pillion riders in Kerala
- Sachin Tendulkar is visiting Kerala
- A video of him asking pillion riders to wear helmet is going viral on social media
- The video was uploaded on the Facebook page of Sachin
A video reminding bike riders on the importance of wearing the helmet is going viral on social media. It reminds about the need to wear a helmet by pillion riders.
Kerala has not made helmet mandatory for pillion riders yet. However, in an accident, both riders are at equal risk of injuries.
The video, which is going viral, shows cricket legend, Sachin Tendulkar. He can be seen trying to educate pillion riders about the importance of wearing a helmet.
He can be heard saying to a woman pillion rider that "you should wear helmet, because if he can get injured then you also can get injured."
The video was filmed during his recent visit to Kerala. Sachin finds that women are not wearing the helmet. He finds it surprising and tries to alert them on the importance of wearing the helmet. The video is uploaded on the Facebook page of Sachin.
"Rider or pillion, both lives matter equally. Please, please make wearing helmets a habit. Just my pillion," he wrote.


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The 2012 Subaru Impreza was awarded the 2012 MotorWeek Drivers’ Choice Award for Best Compact Car at the 2012 Chicago Auto Show.
The award comes on the heels of strong sales results from Subaru. The brand set a sales record in 2011 and has started 2012 with sales up 21% over the previous year.
“It is an honor to receive the award for best compact car from MotorWeek,” Thomas J. Doll, executive vice president and COO, Subaru of America, Inc. “We are very excited about the all-new Impreza and we feel it is a game-changer for Subaru in the compact segment. In fact, Impreza sales in January were up 175-percent. We are pleased to bring our customers a car that packages safety, fun and function.”
All new for 2012, the Subaru Impreza is equipped as standard with Subaru’s Symmetrical All-Wheel Drive. Powered by a 148-hp 2.0-liter Boxer engine, the 2012 Impreza comes with a choice of a five-speed manual transmission or the enhanced, second-generation CVT (continuously variable transmission). The 2012 Impreza offers the highest fuel economy of any all-wheel drive car in America, with EPA ratings of 27 mpg city and 36 mpg highway for models with the CVT.
“With its 2012 re-design, we think the Subaru Impreza is primed for prime time,” said John Davis, MotorWeek host. “No other compact comes close to the Impreza’s mix of standard all-wheel-drive, upscale interior, and near bargain pricing. Add in a fun-to-drive steering feel, plus a big jump in fuel economy, and you’ve got a four-season winner.”


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Android continues to hold a healthy lead over iOS, but it did fall four percent over the last year compared to a rise of 10 percent by iOS. This dip is sure to disappear when the Galaxy S III appears in Q3 results.
July 31, 2012
Android Share Drops 4% While iOS Up 10%, But Popular Galaxy S III Not Counted Yet
Read more at Enterprise Open Source Toolkit


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Surface Laptop is one of the most attractive and desirable portable PCs of 2017 despite its dated and minimal expansion
Recent Surface Laptop Stories
In the internal struggle of logic vs. emotion, the Surface Laptop value equation shifts dramatically at $200 off.
You can save $200 when buying any variant of the Surface Laptop today from the Microsoft Store.
Today, Microsoft is bringing dual-core weapons to a quad-core fight. It is artificially limiting its ability to compete.
I'm routinely asked whether we can trust Microsoft Surface. It's a fair question. This is where I stand.
I have a new Surface Laptop---in a gorgeous graphite gold color---in for a long-term review. I'm going to do right by it.
Microsoft has unleashed a tsunami of firmware and driver updates for Surface Laptop, Surface Pro (2017), Surface Book and Surface Pro 3.
Microsoft this week showed off new aqua-colored and Marimekko design Surface accessories.
There are leaks, and then there are things just make you wonder. This falls into the latter category.
Microsoft has extended its free Windows 10 S to Pro upgrade offer by another three months. What does this say about Windows 10 S?
Microsoft announced today that it is making Surface Laptop available in multiple colors in 20 new countries.
Yesterday, Microsoft announced Surface Plus financing for device purchases. What does this look like in practice?
Microsoft is trying to transition the Windows user base to a safer, more reliable, and better-performing platform called Windows 10 S.
Microsoft's new Surface Laptop only offers four color choices if you purchase a mid-level model. But that's about to change.
Microsoft's new Surface Pro and Surface Laptop are already making a dent in the Windows 10 device usage charts.


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Implementing new digitalization initiatives can often be a complicated and time-consuming task, requiring a restructuring of operations and training of staff. We can understand how that may be frightening in times as these, where stability is key. In light of recent global events, many companies are uncertain about whether to invest or wait for economic recovery, but we’re here to tell you that it’s now or never, if you want your company to flourish through these tough times.
Source: EIB – Digitalisation in Europe 2021-2022: Evidence from the EIB Investment Survey
Looking at this chart derived from the European Investment Bank (EIB), we can see that EU companies have a much lower adoption rate when it comes to IoT projects, compared to the US. Part of this difference can be explained when considering company sizes. Larger companies are in general much more digital than smaller companies, mainly because they have the capital to invest, and departments to handle new initiatives.
There are far more small businesses in the EU compared to the US, dragging down the overall digitalization score. To mitigate this trend, companies in the EU will have to pick up the pace when it comes to investing in IoT digitalization initiatives, otherwise they risk losing the race against large foreign corporations.
The more digital your company is, the more flexible and resilient it becomes. Data from EIB show that digitally advanced companies handled the Covid-19 crisis far better, in comparison to non-digital companies. This improved resilience is due to several factors, the biggest being heightened productivity and better management practices as a result of digitalization.
Source: PwC – PwC Digital Factory Transformation Survey 2022
If we look at the slightly newer PwC digital factory transformation survey, companies are now starting to focus intensely on resilience and sustainability, as a direct result of the Covid-19 pandemic and conflict in Europe. Because we now have a global economy, markets are more volatile than ever, and it’s increasingly important not to fall behind on digital improvements. Companies will most likely lose market share if their competitiveness drops off. If they wish to keep, or even expand their market share, this is last call for digitalization.
By strengthening your company’s ability to adapt to the ever-changing business landscape, it once again becomes possible to survive in the current environment, maybe even to seek new growth opportunities. That’s why we think this is the perfect moment to invest in digitalization, if not for profits, then for survival.
If you would like to hear more about how we can help you in smoothly transitioning to a more digital, resilient, and sustainable business, please do not hesitate to contact us. We’re here to help.


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Battle of the bosses
Ian McLeod, MD of Coles, was paid the handsome sum of $10.74 million in 2012-13.
Richard Goyder, MD of Wesfarmers, which owns Coles, received $8.59 million for the financial year.
McLeod, a Scotsman credited with Coles’ turnaround, has been paid $55 million in earnings since joining the company in 2008.
Yet his total pay packet this financial year decreased by around $4 million on 2011-2012 earnings.
Goyder had his pay packet increased on last financial year by around half a million.
Wesfarmers’ annual report also divulged that ex-Target MD, Dene Rogers, received a $1.025 million termination payment when he left in April.
Former McDonald’s boss and current Kmart MD, Guy Russo, was paid $3.56 million; a slight decrease on the financial year before.
Bunnings hardware chain boss, John Gillam, also took a very slight pay cut, to $3.65 million for the year.
Inside Retail Polls
Harris Scarfe has been put into administration and receivership just days after new owner Allegro Funds took effect… https://t.co/0yZVCtly6P1 day ago
The finalists for the 2020 Retailer Awards have been announced. Here's our short list of the businesses providing t… https://t.co/NeO2iBW6iF2 days ago


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Merger talks between Smith & Williamson and Rathbones have ended after the two sides were unable to reach an agreement.
Earlier this month, Rathbones confirmed it was in £2bn merger talks with Smith & Williamson.
However, Smith & Williamson said this evening that it will continue to grow various parts of its business instead in preparation for a stock market float.
Smith and Williamson said in a statement: "Following our growth and business development in recent years, the board had agreed to prepare the company for a potential stock market listing. While we were pursuing this course, we were approached by Rathbones.
"After careful consideration, we have been unable to reach agreement on terms which would be in the best interests of all our stakeholders."
It also emerged this month that wealth manager Tilney had made an offer for the financial services provider.
In the year to 30 April, Smith & Williamson's group operating income grew 9.9 per cent to £244.6m, up from £222.5m the year before.


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The AV manufacturer joins as an adopting member
MONTREAL, Canada — The SDVoE Alliance has announced Creator Corporation, a leading manufacturer of AV solutions based in Guangzhou City, China, has joined the alliance as an adopting member.
“We’re proud to join the SDVoE Alliance and to work with the innovative SDVoE technology,” said Jing Long, R&D dept. manager, Creator Corporation. “The powerful capabilities of the platform to deliver zero-latency, artifact-free transmission of true 4K60 (4:4:4) video and its wide-ranging applicability to so many applications will help us to closely meet user requirements, achieve the full potential of IP-based AV distribution, and reduce cost and complexity of system construction.”
“We welcome Creator as the latest equipment manufacturer to design their next-generation pro AV products on the SDVoE standard,” said Justin Kennington, president of the SDVoE Alliance. “This partnership represents an exciting expansion for SDVoE technology in the domestic Chinese market, a market that has been working with AV over IP for a long time, and that will now more fully benefit from the matrix switch-level performance available using SDVoE.”
All AV distribution and processing applications that demand zero-latency and uncompromised video can benefit from SDVoE technology, which provides an end-to-end hardware and software platform for AV extension, switching, processing and control through advanced chipset technology, common control APIs and interoperability. SDVoE network architectures are based on off-the-shelf Ethernet switches, thus offering substantial cost savings and greater system flexibility and scalability over traditional approaches, such as point-to-point extension and circuit-based AV matrix switching.


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(Bloomberg) -- Reserve Bank of Australia Governor Philip Lowe kept interest rates unchanged, signaling he’s prepared to tolerate weak inflation to avoid further stoking “briskly” rising property prices and household debt.
Lowe opted not to react to soft consumer prices growth last quarter and held the cash rate at a record-low 1.5 percent, as predicted by 22 of 28 economists surveyed and in line with money market bets. The new governor’s well-flagged concerns about easy money’s risks to financial stability and asset bubbles has led traders to scale back bets on a reduction next year as well.
“The economy is growing at a moderate rate,” Lowe said in his statement. “The large decline in mining investment is being offset by growth in other areas, including residential construction, public demand and exports.”
The governor’s confidence in letting inflation languish well below target stems from stronger economic growth and lower unemployment, as well as a rebound in commodities and an improved outlook in key trading partner China; Lowe has already said he and his colleagues aren’t “inflation nutters.” The decision also fits into a growing global consensus among central bankers that monetary policy is approaching the limits of its effectiveness.
The Australian dollar rose, buying 76.57 U.S. cents at 3:29 p.m. in Sydney compared with 76.19 cents before the decision. Money-market bets for a 2017 rate cut were pared back to a maximum one-in-three chance, from about 42 percent prior to the decision.
“The bank’s forecasts for output growth and inflation are little changed from those of three months ago,” said Lowe. “Over the next year, the economy is forecast to grow at close to its potential rate, before gradually strengthening. Inflation is expected to pick up gradually over the next two years.” The RBA will release its updated growth and inflation forecasts Friday.
Lowe said economic conditions in China “have steadied recently,” supported by an expansion in infrastructure and property construction, while noting “medium-term risks to growth remain.” He reiterated that higher commodity prices have supported a lift in Australia’s terms of trade, referring to export prices relative to import prices. The governor injected a slightly gloomier tone on household consumption, saying it appeared to have slowed “a little.”
Lowe reiterated the RBA’s now standard line that an appreciating currency could complicate the economy’s adjustment from resource investment.
The central bank may get some relief from the local dollar, the best performing Group of 10 currency since June 30, if its U.S. counterpart raises rates in December. A lower Aussie would provide a tailwind to services exports like tourism and education that are highly sensitive to the currency and key growth drivers for the post-mining boom economy.
Given his signals on financial stability, Lowe would be loathe to further inflate Sydney house prices -- already up more than 50 percent in the past four years -- or increase household debt that’s soared to a record 158 percent.
That’s particularly so when the economy expanded an annual 3.3 percent in the second quarter, even though much of that came from labor-light resource exports. The jobless rate has fallen to 5.6 percent, though that level is also flattered by a falling participation rate and high part-time employment.
Then there’s commodities: the terms of trade are rising for the first time in more than two years. Coking coal has surged more than 200 percent this year as output from China, the world’s biggest miner, tumbles under government pressure to cut overcapacity. Iron ore, Australia’s biggest export, has rebounded almost 50 percent.
Australia’s core annual inflation averaged 1.5 percent in the third quarter, well below the central bank’s 2 percent to 3 percent target range. Record-low wage growth, imported disinflation, fierce local retail competition and spare capacity in the economy all suggest consumer prices are unlikely to rebound soon; as a result, many economists view the RBA as retaining an easing bias.
“The Reserve Bank says inflation has bottomed and that the economy is set to grow at a faster-than-normal pace,” said Craig James, a senior economist at the securities unit of Commonwealth Bank of Australia. “Rate cuts are off the agenda for now.”


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As we’ve been reporting now for several weeks, the spreading Wuhan coronavirus (COVID-19) is much worse than the Chinese government has said.
There are thousands more infections, according to various reports, and plenty more deaths — so many, in fact, that funeral homes are paying more than $143 an hour in order to attract enough workers to process all of the bodies, Natural News reported.
But there are additional signs that the virus’ spread is having regional, if not global, economic implications as well.
In a report earlier this week, Bloomberg noted that the shuttering of scores of factories across China, which has occurred because tens of millions of Chinese workers have been quarantined or are afraid to go to work, is having a “ripple effect” in neighboring India and elsewhere.
The news site reports that all sectors — from drugs to electronics — are being affected:
India, the world’s second-most populous nation, is facing the ripple effects of shutdowns in China with production of medicines to mobile phones being hit as supply chain disruptions prolong.
Prices of paracetamol, the most commonly used analgesic, have jumped by 40% in India, while the cost of azithromycin, an antibiotic used for treating a variety of bacterial infections, has risen by 70%, said Pankaj R. Patel, chairman of Zydus Cadila.
As of this writing, according to Natural News, “officially” China is reporting more than 75,291 infections and more than 2,014 dead, though based on additional sources, the count could be as high as a quarter-million infections with more than 25,000 dead, though again, those latter figures are not confirmed.
The decline in drug production in China, which is affecting production in India, is also having an effect on the United States. Bloomberg notes that India is one of the world’s largest suppliers of generic drugs and “home to about 12 percent of all manufacturing sites catering to the U.S. market,” the news site reported. Around 80 percent of that Indian pharmaceutical sector the U.S. depends on is supplied by Chinese factories.
As for China, Zero Hedge cited reports claiming that as manufacturers continue to keep plants idle, as much as two-thirds of China’s economy has been halted. There have been some factories that have gone back online in recent days pledging to reach full production by the end of February, but most are either shut down completely or running with skeleton crews, which of course dampers production.
Because of the widespread nature of the disruption in the Chinese supply chain, there is now a reorganization of complex supply chains out of the Asian behemoth to a more localized approach in order to avoid shortages and the resultant economic slowdown they cause in the future.
All of which, Zero Hedge noted, “points to an ugly end of globalization.”
A column this week in The Wall Street Journal by Yossi Sheffi, director of the Massachusetts Institute of Technology’s Center for Transportation and Logistics and an expert in supply chain risk management, calls for several steps to be taken by U.S. firms in order to avoid massive supply chain disruption of the kind “we have not seen in the past 70 years.”
— Establishing central emergency management centers;
— Review company product portfolios and customer bases in order to establish supply priorities, including which products should be built and which customers should be supplied first;
— Review suppliers to determine who makes what, which parts are critical, and what, if any, alternative supplies exist;
— Plan to optimize the flow of cash rather than profits;
— Keep in touch with federal and local authorities, as well as Chinese and Asian suppliers and colleagues to keep abreast of the deteriorating situation.
The Wuhan coronavirus has exposed not just the frailty of the global supply chain, but in many ways the futility of over-reliance on just one country.


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For years, the number of tourists visiting Thailand has been climbing steadily. In 2017, some 10 million visitors from China alone are expected in the country. Locals are complaining about the environmental impact.
In big German cities, tourists from China are an important source of income for retailers. These customers from the Far East however expect to be courted and looked-after - as it's done in Munich and Frankfurt.
Beijing's attempt to punish Taiwan by throttling tourism from the mainland hasn't made much impact. Taiwan set a new tourism record last year by successfully courting visitors from the rest of Asia.
The Thai cabinet has extended its free tourist visa programme to 21 countries until the end of August to boost tourist arrivals. The stimulus measure came after waning tourist arrivals, especially from China.
In a bid to attract more Chinese tourists into the country, Cambodia is accepting payments in yuan. But many Cambodians oppose the measure, saying the government should promote the use of its own currency instead.
© 2017 Deutsche Welle |
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| Mobile version


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Singer Rochelle Humes is taking on the role of EE's red carpet host at this year's Bafta Awards.
EE is helping consumers to shop for affordable versions of the red carpet looks at this year's Bafta Awards.
The annual awards bash is being held in London on Sunday (18.02.18), with Rochelle Humes taking on the role of EE's red carpet host, and it's been confirmed that the mobile operator will use its powerful 4G network and the latest image recognition technology to help fans look like their heroes.
Rochelle explained: ''Fashion plays a large part in what people love about the awards night, but it is also powerful tool for making a statement. That's why I, along with many others, will be wearing black in support of the Time's Up movement.
''I love fashion and I don't think you should have to spend a fortune to look great, so I am particularly excited about the 4GEE Style Scanner.''
The Style Scanner will photograph celebrities' red carpet looks, and then match the style with affordable alternatives in the space of a few seconds.
Rochelle, 28, revealed she is looking forward to seeing the cutting-edge technology in action at The Royal Albert Hall, where the event is being staged.
She said: ''It will make it easy for people to find red-carpet-worthy clothes that don't break the bank. It was incredible seeing the technology in action and I can't wait to see people at home getting involved.''
Meanwhile, Mat Sears, the Director of Communications and Sponsorship at EE, added: ''By combining the power of our 4G network and the latest mobile technology, we have found a way to allow film fans to browse the red carpet styles and shop outfits inspired by these looks in real time.''
In her latest collaboration with Cash Money's Lil Wayne, Nicki Minaj finally unveils the video for her 'Queen' single 'Good Form'.
In the Hall By The Sea at Dreamland, Reef brought their Revelation tour to life as they delivered one of the best live sets I've had the privilege to...
Sharon Van Etten unveils an ominous black and white video directed by Katherine Dieckmann for her latest song 'Jupiter 4'.
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From 'Happy' to 'Banana Pancakes', these are soaked in positivity.


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AMD is set to launch a Radeon RX 590 GPU on 15 November, according to the latest rumours coming out of China. The device will be based on a 12-nanometre FinFET process, with a shrink of the Polaris...
AMD is planning a series of Navi-based GPUs in 2020 - including a return to the high-end of the graphics card market
Google to cut Google Cloud prices after deploying AMD Epyc in server farms
US vehicle testing agency accuses Musk of 'misunderstanding safety data' when he claimed Tesla Model 3 was the safest car ever made
Five security flaws in Nvidia GPU drivers leave PCs open to privilege escalation and denial of service attacks
Eight of the 11 Ice Lake processors also offer Iris Plus integrated graphics supporting Adaptive Sync


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Fans of Phil abd Kaja Foglio (as seen in Dragon Magazine’s What’s New? comic) can now rejoice as their Girl Genius comic is now online. It looks like they are releasing pages from the existing books (3 currently), one a day on MWF. In addition, new material is also posted in the Advanced Class. Sweet.
I’ve always like the look and humor of the Foglio’s work. This will have to become a ‘must read’.


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For Ackermann GmbH this year’s EuroShop, the world’s largest shopfittings trade fair, was especially successful. At the fair we introduced STRUCTURA®, our new, patent-pending stamping technology for solid surface materials: This innovative technology creates seamlessly custom-designed structured surfaces efficiently and accurately – making complex milling technology nonessential. STRUCTURA® harmoniously intertwines unique design potential with effective functionality. The jury of the AIT Innovation Award was duly impressed and convinced.
Innovation Award was duly impressed and convinced. For the sixth time the architecture magazine AIT, in collaboration with the trade fair in Düsseldorf, presented the Innovation Award Architecture + Presentation. This year’s recipients included (interior) architects, designers and also manufacturers of innovative materials and products for booth construction and shopfittings who, in a very special way, transform the architects’ visions..
We are very pleased that our stamping technology STRUCTURA® has received this year’s AIT Innovation Award. Five renowned jury members from Architecture and Interior Design commended the innovation of the machining process for our stamping technology as exemplified by the well-known HiMacs product. They especially praised our conceptual solution regarding design and functionality. We accepted this award of recognition presented to us at the awards ceremony during the EuroShop with gratitude and also a little bit proud of our accomplishment.


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Excerpt from USATODAY
As winter approaches, take a second look at that wild salmon entree you paid a premium for in a restaurant. It's likely mislabeled.
Oceana, an advocacy organization that's previously found fraud in retail marketing of other fish, shrimp and crab cakes, released findings Wednesday that diners were misled in restaurants when ordering salmon 67% of the time. The most common mislabeling was labeling farmed salmon as pricier, more sustainable wild salmon.
Oceana also tested salmon in grocery stores, finding it was dramatically less likely to be mislabeled - about 20% - and that large grocery stores were significantly more reliable with salmon sourcing than small markets.
Logos, product and company names mentioned are the property of their respective owners.


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Intel clearly has a hit on its hands. Mooly Eden, vice president and general manager of the PC Client Group, took to the IDF 2011 stage today and announced several things including that, as this posts headline states, the company’s current crop of Core CPUs, codenamed Sandy Bridge, is Intel’s fastest selling platform yet with more than 75 million chips shipped. This major milestone comes as Intel’s next big thing, ultrabooks, are about to hit retailers.
Eden went on to state that by Intel estimates approximately 1 million computers are sold each day with emerging markets leading the growth. Intel likely hopes ultrabooks will spur a revival and bump that number up even higher.
Of course more Sandy Bridge chips will ship before its successor hits computers. The first generation of these ultraportable notebooks will sport Sandy Bridge chips, further extending the sales record, but later versions, will feature 3rd generation chips built around a new 22nm architecture.
Intel has invested heavily in Ultrabooks. Per Eden the first phase is currently underway with the first products hitting retailers this holiday season and phase two comes when Ivy Bridge chips bow in 2012. But then in 2013, phase 3 starts with the power-friendly 22nm “Haswell” processor, which was demonstrated on stage today and is said to allow for unprecedented battery life. By then Windows 8 will be out and the two will likely team up for the next phase of personal computing — or at least I hope.


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By using mobile health products and services, such as those offered by mHealth, the wireless industry is dramatically reforming healthcare by improving access and quality of care while decreasing costs. According to CTIA-The Wireless Association's semi-annual survey, there are more wireless devices (322.9 million) than Americans (315.5 million), so it makes sense to connect health and wireless technology.
A recent CTIA and Harris survey discussing the importance of wireless technology in healthcare found that physicians believe more than one quarter of their patients would benefit from wireless services. In addition, 80 percent of doctors and 89 percent of specialists said they want to see continued investment in mHealth as wireless technology is able to improve and promote better healthcare.
Currently, there are more than 17,000 mobile apps available for consumers to track weight-loss, exercise and fitness progress or to help manage chronic disease. For example, some apps help diabetics record their daily blood sugar levels. If the levels entered are harmful or dangerous, a text message alerts users with suggested steps and tips to prevent the condition from getting worse.
According to international consulting and marketing firm Global Partners Inc., it is projected that 60 million people will benefit from using tools like remote patient monitoring devices by 2013 to prolong and improve their health.
Get the latest information on Health IT and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.


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UNIQuickie perhaps? A video of a couple doing it in Beijing’s shopping mall was leaked in Wechat and Weibo on Tuesday attracting millions of views. However, by Wednesday the post of the clip has been taken down.
It was concluded that the incident happened in Sanlitun’s Uniqlo store as an intercom was heard in the video saying, “Dear customers, welcome to the Uniqlo store at Sanlitun. There are no fitting rooms on the first floor. Please proceed to the second and third floor if you need to try clothes on.”
The video can be seen shot by the man’s smartphone while the couple passionately engage in their love making. “Call me husband” and “say we’ll be together” were a few of the phrases he said to her as piped music played in the background.
Beijing police announced online that they had received complaints about the video and would investigate the case.
UNIQLO was accused by many Chinese netizens that it was a publicity stunt. However, the Japanese franchise denied these claims.
“As a responsible international brand, Uniqlo is dedicated to providing consumers with safe, comfortable and quality shopping experiences and locations,” the company said. “We would like to remind all customers to abide by society’s moral standard… and properly and appropriately use our fitting rooms.”
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China promulgated an electronic commerce law on August 31, 2018, effective, January 1, 2019. Of interest to intellectual property rights (IPR) holders, the law makes e-commerce platform operators potentially jointly and severally liable with IP infringers and enables the relevant administrative department (e.g., the China National Intellectual Property Agency (CNIPA)) to fine platform operators up to 2 million RMB (~$291,000) for failure to protect IPR. The law also formalizes a mechanism for IPR disputes on e-commerce platforms. Continue Reading China Promulgates Electronic Commerce Law
In light of China’s merging of Patent and Trademark Offices, China has renamed the State Intellectual Property Office to the National Intellectual Property Administration (中国国家知识产权局). Both English and Chinese websites now show the new name as of August 29, 2018. Click here for more information about the restructuring.


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Apparently December is a busy time for plastic surgeons, as people start gifting each other with cosmetic surgeries. In fact, Massachusetts-based Dr. Min S. Ahn tells CNN that December is when his schedule is the most packed because it's a good time for people to take time off and hide their surgeries. It's even busier for Dr. Ahn this holiday season due to the gradual rebound in the economy. I guess there's a correlation between cosmetic surgeries and the country's economic climate.
People can get pretty creative with trying to surprise recipients with their surgery gift — this one guy apparently put breast implants in a box for his wife under a Christmas tree! This is certainly not your ordinary holiday present; how would you feel if someone gave you some plastic surgery for Xmas?


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Jaguar Land Rover has actually developed a model Range Rover Sport that can be driven fromoutside the vehicle using a mobile phone application. Velocity, guiding as well as stopping could all be regulated-- although the vehicle's maximum speed will certainly be decreased to a plain 4mph. Which, offered the situations, appears reasonable sufficient to us.
The Range Rover model includes an additional unique capacity, called "Multi-Point Turn". Basically, this could transform the automobile 180 levels autonomously in nearly any sort of scenario, regulating as well as utilizing sensing units rate, equipment option, guiding and also stopping to make this unloved manoeuvre a genuine breeze. Even if that 180-degree turn calls for 10 factors, it'll do it.
Jaguar Land Rover asserts attributes such as this will certainly be incorporated right into the self-driving vehicles of the future to make motorists' lives less complicated, as well as is still functioning in the direction of a principle it calls the "Solo Vehicle"-- a motor vehicle so familiar with its environments that it could run separately of motorist input.
The firm belongs to the UK Autodrive consortium and also will certainly be carrying out real-world screening of its innovations in Coventry and also Milton Keynes in the near future, so we could required to listen to more so.
The suggestion behind the model is that you could bargain challenging driving scenarios from beyond the automobile. If a person has actually obstructed you in a garage as well as your exposure suffers, or if you need to deal with a complicated off-road area, the capacity to manoeuvre the auto while keeping tabs on its outside appears important. The rate limiter as well as an optimal range of 10 metres exist to guarantee you do not surpass the entire principle's viewed limits.


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PepsiCo (NASDAQ:PEP) announced that its Board of Directors has authorized a share repurchase plan, which allows the company to buyback $15.00 billion in shares on Tuesday, February 13th, EventVestor reports. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
PEP has been the subject of several research reports. BidaskClub lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Stifel Nicolaus reissued a “hold” rating and issued a $120.00 price target on shares of PepsiCo in a report on Friday, December 22nd. Jefferies Group reaffirmed a “hold” rating and set a $113.00 target price on shares of PepsiCo in a research note on Tuesday, February 13th. SunTrust Banks cut their target price on PepsiCo from $125.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. dropped their price objective on PepsiCo from $127.00 to $124.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $123.04.
Shares of PepsiCo (NASDAQ PEP) opened at $109.68 on Friday. PepsiCo has a 12-month low of $106.19 and a 12-month high of $122.51. The firm has a market capitalization of $155,735.50, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.75 and a beta of 0.62. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.51 and a quick ratio of 1.37.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. PepsiCo had a return on equity of 61.14% and a net margin of 7.65%. The company had revenue of $19.53 billion during the quarter, compared to analysts’ expectations of $19.40 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. sell-side analysts expect that PepsiCo will post 5.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 2nd will be given a dividend of $0.805 per share. The ex-dividend date is Thursday, March 1st. This represents a $3.22 annualized dividend and a dividend yield of 2.94%. PepsiCo’s dividend payout ratio is presently 95.55%.
ILLEGAL ACTIVITY NOTICE: This report was first posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://www.thelincolnianonline.com/2018/02/25/pepsico-pep-to-repurchase-15-00-billion-in-stock-2.html.
PepsiCo Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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Published: Tuesday, 4 Jun 2013 | 5:06 AM ET
By: Hugh Carnegy, FINANCIAL TIMES
France's culture minister has attacked Amazon, the online retailer, for deliberately undercutting traditional rivals to create a "quasi-monopoly", in the latest assault by the socialist government on internet companies.
"Today, everyone has had enough of Amazon which, through dumping practices, smashes prices to penetrate markets to then raise prices again once they are in a situation of quasi-monopoly," said Aurélie Filippetti, the culture minister.
Calling Amazon a "destroyer of bookshops", she added that she was considering a ban on free postage offers and a current regime of allowable 5 per cent discounts on books.
Her attack on the US company followed a veto last month by Arnaud Montebourg, the leftwing industry minister, of a proposed acquisition by Yahoo, the web portal, of a 75 per cent stake in DailyMotion, a fast-growing French video sharing site owned by France Telecom.
In April, the digital industries minister labelled Apple "extremely brutal" for excluding a French start-up from its App Store, complaining that the US company had acted unethically.
Ms Filippetti was speaking in Bordeaux where the government announced a €9m joint plan with French publishers to support independent booksellers. "This is an unprecedented effort in favour of the book and reading because without independent bookshops there will be fewer publishers and authors, less choice for the reader and fewer social networks in towns," she said.
Her attack on Amazon came despite the establishment in France by the company of several big distribution centres. Mr Montebourg attended the opening a year ago of the most recent in Chalon-sur-Saône in eastern France, which employs 500 people.
In other words, traditional publishing still works.
France is probably a lot like Canada where a domestic bestseller doesn't make an author anywhere near what an American bestseller makes for an American author. The US market is so much bigger than any other domestic market (except, I guess China and maybe Germany) that it's very tough to make these kinds of comparisons.
Traditional publishing in France has probably relied on distributing American bestsellers for a big part of its income for quite a while. That distribution pays for a lot of the infrastructure that the domestic industry relies on.
Sometimes I don't think Americans realize how dominant their corporations are in other countries and what effects that has.
I see the UK is following suit.
Actually, from our point of view, paying the middleman isn't a good thing. And in the book industry there are far too many middlemen taking a cut before a book passes from store to customer.
Still, the biggest threat in the U.S. is that the whole shebang is run by mega companies that end up squeezing out authors whose books do not sell in the millions. Amazon does give preferential treatment to big sellers, but they haven't quite forbidden us yet to upload.


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But ubiquity has not yielded credibility for social media, the survey found. Social media and blogs ranked at the bottom when the poll asked respondents how much they trusted information they received from different individuals, groups, and media platforms.
On this broad measure, just 30 percent of those polled placed a “great deal” or “some” trust in information when they “hear it, see it, or read about it” on social-media websites and services such as Facebook, Twitter, and others. Nearly twice as many (58 percent) say they put not very much or no trust in that information. Blogs didn’t score much better: Just 34 percent expressed much trust in them, compared with 53 percent who said they had little trust. In each case, the finding was comparable to the modest 37 percent who placed a great deal of trust in advertisements. For both sources, regular social-media users expressed only slightly more trust than the public overall.
More-traditional information sources performed better. Public television and radio (including NPR and PBS) ranked highest, with 75 percent expressing a great deal of faith in them. Following were newspapers (71 percent); cable news programs (70 percent); network news (64 percent); magazines (57 percent); talk-radio programs (53 percent); and company websites (51 percent).
The survey found that online sources scored better in a question tied to purchasing decisions. The poll asked respondents how much consideration they gave to an array of information sources when buying a product or service. Continuing another consistent Heartland Monitor finding, by far the most trusted sources were those closest to home: Nearly nine in 10 said they relied a great deal or some on conversations with friends, family, and acquaintances. Nearly three in four leaned heavily on “expert reviews in publications like Consumer Reports and major newspapers,” and 57 percent cited advertising.
But online forums (59 percent) and online reviews from other consumers on sites such as Yelp and TripAdvisor (54 percent) also scored well. Among regular social-media users, reliance on those sources soared to 72 percent and 66 percent, respectively, approaching the level of users who consult expert publications (77 percent). About seven in 10 young adults also report relying heavily on those sources. What’s more, it’s becoming much more common for Americans to not only seek information about their experiences but also share it: More than half of regular social-media users say they have posted a review or comment online after a positive experience with a product or service, and nearly half say they have done so after a negative experience.
Sarah P., a thirtysomething graduate student in Rexburg, Idaho, who did not give her last name, was one of many respondents who said they now routinely seek the online reactions of other consumers before opening their wallets. When buying something, she said, she usually pokes through consumer reviews on Amazon, Target, or other sites. “You can shop smarter,” Sarah said. “I think social media has certainly made it better for me to shop and look up problems that certain products have.”
“It’s impossible to call companies; they want to put you on a live Web chat all the time.” —Beth Thibault, Westport, Conn.
Tom A., a sales manager in Champaign, Ill., who also declined to give his last name, was one of several who said that the communications revolution has shifted power from businesses to consumers by making it easier to compare options and alternatives. “Let’s go back to our grandparents,” he said. “They did business with the same people the whole time and didn’t really have a platform to compare other industries or services with. People fire their banks and attorneys all the time now, because people use the Internet and social media to learn more about their alternative choices.”
In weighing those choices, Tom said he now leans more heavily on the collected opinions of other consumers than on the reviews in expert publications: “I’m an avid biker, and I just bought a headlight for my bike. I didn’t care what expert reviews and the manufacturer say because it seemed almost like propaganda. I care what people do in their real life. I can see a guy who is exactly like me and what he thinks.”
Such assessments help explain why a resounding 60 percent of respondents agreed with the statement that “the rapid growth of the Internet, most recently through social media,” has made it easier “to be a well-informed consumer.” Only 32 percent said that the information explosion “has made it harder for me to be a well-informed consumer” because of unreliable reports or by overwhelming people with “too much information to manage.” The share who believe that the Internet has empowered them rises to 68 percent among college graduates, 69 percent among social-media users, and 73 percent among those who use the Internet several times daily. But it’s not just the young digerati who feel that way. Robert Merkle, a retired 73-year-old former owner of a gourmet-food shop living in Bayville, N.J., succinctly expressed the consensus in the poll across a broad range of groups. “I don’t buy anything or go anywhere without checking online,” he declared.


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On Thursday, CGST officials arrested a man and dismantled a syndicate of companies that engaged in the sale and use of false Goods and Services Tax (GST) input tax credits (ITCs). ). Through extensive analysis of E-way invoices, CGST Delhi East Commissionerate officials discovered that this syndicate was using two other entities namely M/s Shree Mahaveer International and M/s Gravity Enterprises. A communication was also received from GST, State of Gujarat that a car, registered to one of the syndicate companies M/s Blue Water Expotrade Private Limited, was intercepted by them in Ahmedabad.
According to the Ministry of Finance, truck FastTags were affixed to the car to create a fake movement of export goods from Delhi to Mundra Port. E-way invoices regarding the false supply were issued by M/s Shree Mahaveer International. A search was carried out on Thursday at the residential premises of Rakesh Kumar Jain, owner of M/s Shree Mahaveer International and partner of M/s Gravity Enterprises.
Jain admitted that false invoices were received and issued by these syndicate companies without actual supply of goods. It was evident that Jain was using several companies to profit and pass fake ITC on fake invoices and E-Way invoices without actual supply of goods. The amount of GST evaded by him is more than Rs 85 crore, the finance ministry said.
Jain was arrested on Thursday for committing offenses under the CGST Act and arraigned before the Metropolitan Magistrate Patiala House Courts, New Delhi. So far, investigation by CGST Delhi (East) Commissariat has unearthed fake ITC racketeering from seven companies namely M/s Vibe Tradex, M/s Prime Mark Expotrade Private Limited, M/s s Blue Water Expotrade India Private Limited, M/s Transglobe Tradex Private Limited, M/s Tirupati Overseas, M/s Shree Mahaveer International and M/s Gravity Enterprises.
Further investigation is underway. (ANI)
(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)


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“Supply chain issues” is a phrase that we heard a lot last year, and many of us hope to never hear it again. However, as we move closer to the holiday shopping season, people are starting to wonder if we’ll have to deal with problems as we buy gifts in 2022.
You can take a small sigh of relief because, while supply chain issues aren’t completely gone, they have become less of an issue over the last few months in the United States. In fact, experts from Bloomberg Economics have said recent improvements are suggesting we’re moving towards an end to pandemic-driven supply chain woes.
So, what does this all mean for holiday shopping and events like Black Friday? We’re here to explain so that you know what to expect as you start shopping for gifts for others – and yourself.
Are supply chain issues gone?
While each retailer is different, and some may still be experiencing supply chain issues, problems with the supply chain have improved overall. As a result, you shouldn’t expect to have this holiday shopping season be plagued by supply chain issues in the same way it was last year.
That being said, issues like labor strikes, Russia’s war in Ukraine and COVID outbreaks in China are all still at play. When the demands of holiday shopping start to make their presence known, it could create some logistical problems. Again, any issues that pop up shouldn’t be as bad as last year’s supply chain problems though.
What does this mean for Black Friday?
Unfortunately, inflation is emerging as a new problem just as the United States seems to be getting supply chain issues in order. Higher prices everywhere from the gas pump to the grocery store have people pulling back on their spending, especially on merchandise. This has both shoppers and stores wondering what Black Friday and the holiday shopping season will look like this year.
While it isn’t possible to forecast everything with 100% certainty, we do know events like Black Friday and Cyber Monday will still happen this year, as they’re important events for retailers. We also think some holiday sales might not be as enticing as in previous years. However, when compared to the inflated prices we’ve been seeing in stores recently, the deals will still be worth checking out.
What are some other ways to save this year?
Before you panic about inflation, know that you and your family can still enjoy the holidays without breaking the bank. The first step is educating yourself about what this year’s shopping season will look like, which you’ve already done by reading this article.
Now that you’re informed, you can take some simple steps to help you save:
Shop early: We always recommend starting your holiday shopping early, and this year is no exception. Doing so can help you avoid feeling the effects of any lingering supply chain issues and spread out your holiday spending over several months, which is better for budgeting. Luckily, if retailers plans look anything like they did last year, you're going to see a lot of pre-Black Friday sales starting early in the fall.
Do your research: At BlackFriday.com, we’re also big fans of comparison shopping, which is going to play an important role this year. Some retailers might not offer their usual discounts, but that doesn’t mean others won’t. That’s why you’ll want to check more than one place to get the best price. Here, we will also always share details on where to get the best price on popular products.
Give a unique gift: Rather than giving merchandise this year, you might want to give an experience in the form of a gift card to a restaurant or business. This is a great way to help struggling local businesses. You might also want to consider hand-crafting something to give as a gift.


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New appointment at Catalyst Biosciences
This article was originally published in Scrip
Catalyst Biosciences, a US company focused on the discovery and development of engineered proteases known as Alterase therapeutics, has named William Dawson chief financial officer. He has more than 30 years' financial management and business development experience, having previously served as vice-president of finance and chief financial officer at Cerus.
You may also be interested in...
The US FDA issued only one device-related close-out letter in October.
Seven pharmacies have filed a lawsuit against the FDA claiming the agency exceeded its statutory authority in its final standard memorandum of understanding on interstate compounding and that the MOU will have an adverse impact on compounding pharmacies and patients.
Several experts spoke with Scrip about their take on how the biopharmaceutical industry's efforts to respond to COVID-19 might help industry's image problem.


text: The recorded sales for the US gaming industry last month was simply record breaking. November already had the record-breaking sale of Call of Duty: Modern Warfare 3, which had the biggest launch day sales to date for any games. However, another record is that sales hit $3 billion the past month, as this is the most ever earned in November. Game sales were up 16 percent, but hardware and accessories was down 9 percent and 34 percent respectively. November also saw the sales of Skyrim and Batman: Arkham City.


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China to release monthly record pork reserves
China will release about 200,000 tons of pork from government reserves to the market in September to maintain supply and price stability, the country's top economic planner said Friday.
Prices of this pork will be lower than the market level, and the volume to be released will hit a monthly record, according to the National Development and Reform Commission (NDRC). The first batch of pork from government reserves was released on September 8, and the second batch will be released on September 18.
The price of pork, China's staple meat, inched up 0.4 percent in August compared with July, official data showed.
China currently has sufficient government reserves to meet the needs of pork market regulation, the NDRC said, adding that it will follow market changes, release pork reserves in batches and increase pork release if necessary.


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Spaza shops owned and managed by South Africans have been classified as essential services exempt from the national lockdown which begins at midnight on Thursday 26 March 2020.
In line with regulations pertaining to the Disaster Management Act — with protocol specifically designed to limit movement and social gathering — Small Business Development Minister Khumbudzo Ntshavheni has revealed that spaza shops will remain on condition that they are owned, managed and operated by South Africans.
Spaza shops to remain open during lockdown
Furthermore, only spaza shops which are licensed with municipalities will be open for business during the three-week lockdown. Ntshavheni noted that currently-unlicensed spaza shops will be “brought into the fold” through municipal engagements.
The lockdown, declared by President Cyril Ramaphosa as a means of curbing the rapid spread of COVID-19 throughout South Africa, will effectively shut all “non-essential” services and prohibit movement outdoors. South Africans have been urged to stay indoors and only leave their homes should they need food or medical attention.
The South African National Defence Force (SANDF) and South African Police Service (SAPS) have been tasked with enforcing the stringent regulations.
Ntshavheni, who, in her role as minister, has offered governmental assistance to small, medium and micro-enterprises (SMME), a category closely associated with the informal market and spaza shops in particular.
Foreign-owned spaza shops forced to close
While nearly all lockdown regulations apply to persons who currently reside in South Africa, regardless of their nationality, the issue of spaza shop exemptions has left some store crying foul. According to a study conducted in 2015 by the Sustainable Livelihoods Foundation, roughly half of all spaza shops, in the Western Cape alone, are foreign-owned and managed.
Ntshavheni noted that the decision to prohibit spaza shops owned by foreign nationals from operating was, in part, connected to quality control in a time of crisis.
“We want to make sure that the quality of food and products are there.”
Addressing a media briefing in Pretoria earlier this week, Ntshavheni added that spaza shops would receive government assistance:
“We are going to support the spaza shops in terms of bulk buying and we will indicate the mechanisms we will put in place for the shops.”


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It’s been a long time coming, but the day is finally here. At the end of tonight, the servers that made your Sidekick devices so great — that insanely addictive push email, one of the best AIM experiences, one of the first app stores, and more — will be shut down for good. Since the Danger Sidekick devices were tied directly to the cloud, the devices had limited memory. What this means is that since there will no longer be data on the server, the data on your Sidekick will erase if your phone loses it’s charge. T-Mobile has recommended that Sidekick users go into T-Mobile locations to help get their data backed up, but if you’ve missed the boat, you can hit up your online T-Mobile account at the link below to access and export your data for free.
Note: the T-Mobile Sidekick 4G, the company’s latest Sidekick (Android, not Danger) is not at risk of losing data or service.


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Langton Capital – 2015-11-06 – Miller Coors, Sharm disruption, interest rates & other:
A Day in the Life:
Follow us on Twitter at either @langtoncapital or @brumbymark.
Find previous emails at http://www.langtoncapital.co.uk/daily-notes/ a
So if it came to a vote, and I’m trying to think of a way to put this politely, who would come out as the biggest sanctimonious, holier-than-though, I’m tomorrow, you’re yesterday sort of person, Bono or Sting.
Because, whilst South Park seems to favour the former, I came across an old Paxman interview with Sting that boosted his chances of taking the title. It’s here if you’d like a look.
Described as the ‘granddaddy of environmental activists’ he admitted to having a carbon footprint the size of the planet and more houses than there are continents. He didn’t attend his mother’s funeral because of fears of press intrusion here. But then he didn’t go to his dad’s either saying that he wasn’t equipped to because he had allowed his ‘emotional evolution to be stunted by the shallow and tepid waters of popular culture’, whatever that means. Why use one word when 10 will do, he said. He said. He said. On to the news. .
Pub, Restaurant & Drinks Producer News:
• Miller Coors Q3. Reports 8.6% lower underlying net income but higher net revenue per barrel. Reports net income of $344.4 million vs same period in the prior year ‘driven by lower volume and increased marketing investment, partially offset by lower cost of sales, positive sales mix and net pricing growth.’ Group adds ‘for the second consecutive quarter, Coors Light and Miller Lite both gained market share of the Premium Light segment, with Miller Lite delivering volume growth. Combined, Coors Light and Miller Lite delivered their best quarterly performance in three years.’
• Miller Coors CEO Gavin Hattersley reports ‘as we relentlessly pursue total portfolio growth, job number one is taking share and growing our American Light Lagers.’ He adds ‘we have a lot of work ahead of us to address our economy segment performance, but all other segments across our portfolio are in good shape as we close out the year. Net income was down this quarter due to lower volume, partially due to bringing distributor inventories down as anticipated coming out of peak-selling season, and increased media investments across our brands.’
• Diageo has sold its wine interests in Argentina to Grupo Peñaflor for an undisclosed amount.
• Ruby Tuesday says it will sell 8 corporate-owned locations + close its remaining 11 own-restaurants to concentrate on franchising. Group says it will operate the 8 locations being sold as Lime Fresh Mexican Grills until the transaction closes. CEO JJ Buettgen reports ‘as we consider Ruby Tuesday’s future, we believe it is in our shareholders’ best interest that we exclusively operate our namesake brand restaurants.’
Travel & Hotels:
• Sharm disruption + bomb fears set to hit Egypt’s struggling tourism industry, which had been struggling to recover post Arab spring. FT quotes John Grant of OAG, an aviation consultancy, as saying ‘the recovery will take a degree of time. Through the winter season the popularity of the destination is quite high so UK operators will be hoping to see a rapid resolution of the issues and once again be able to sell the resort to their customers.’
• PM David Cameron has said it could be “some time” before all UK tourists are repatriated from Sharm el-Sheikh
• Expedia agrees to buy vacation rental site HomeAway Inc for c$3.9bn. Deal to close in Q1 next year
• IATA says global airline industry should finish the year in positive territory. Passenger numbers +7.3% y-o-y in Sept.
• Easyjet reported yesterday that carryings last month were +10% on Oct 2014.
• Uber is to commence operations in Edinburgh.
• IAG reports fresh goals for 2016-20. Is aiming for 15% return on capital, operating margin of 12% to 15% and EPS growth of 12% p.a.
• Disney yesterday reported Sept quarter numbers ahead of market expectations on back of strong cable earnings.
• Disney: Group earned 95c per share in Sept quarter vs 86c last year. Underlying EPS was 120c (vs estimates c114c). CEO Bob Iger reports ‘we like the environment because we think long-term it gives us more opportunities.’
Finance & Markets:
• B of England holds rates at 0.5% amid comment that it will hold rates at that level throughout 2016.
• UK base rates, Bank says outlook for global growth has weakened, prospect of inflation picking up is a distant one. Vote was (again) 8-1 and betting is on a Q2 2016 rate rise – with some commentators daring to favour 2017.
• EU forecasts economic recovery within European Union + eurozone should continue at “a modest pace” next year, suggests 2.0%
• UK house price growth picked up in Oct per Halifax. Says prices +9.7% in the year to Oct vs an annualised 8.6% in Sept. Halifax economist Martin Ellis said ‘improving economic conditions and household finances, together with sustained low mortgage rates, have boosted housing demand during 2015.’ He adds ‘strengthening demand is filtering through into higher sales levels, although the ongoing shortage of supply is acting as a significant constraint on activity.’ The Halifax believes excess demand was ‘maintaining upward pressure on house prices’.
• World markets: UK down yesterday but Europe higher. US shares traded down + Far East down in Friday trade
• Oil down a little over last 24hrs, trading at $48.20 per barrel
• Savills has suggested that delaying interest rate rises for too long could allow house prices to grow at an unsustainable pace. It says ‘if rates remain too low for too long house prices could rise to a level that would become unsustainable if rates were subsequently to rise sharply’.
Retail Roundup from Nick Bubb:
Intu Properties: The shopping centre giant Intu (of Lakeside, Metrocentre and Trafford Centre fame) has been under the cosh a bit compared to its peers in the industry, with tenant failures and the rent review cycle impacting on net rental income, but its Q3 IMS today is notably more upbeat, with CEO David Fischel saying: “The economic recovery is now more obviously rippling out from London and the South East to other regions of the UK and our prime centres across the country are seeing strengthening underlying retailer sales performance. As this translates into improved demand for space and rising occupancy, we look forward to a return to like-for-like net rental income growth for 2015 and are well positioned for a more meaningful uplift next year”.
Today’s Press and News:
BDO High Street Sales Tracker: this weekly High Street sales index of medium-sized Non-Food chains assembled by the accountants BDO is a useful guide to underlying Fashion store trading momentum, even though it excludes Online sales. Fashion LFL sales have been surprisingly poor in recent weeks, despite weak comps, but BDO has reported today that last week, w/e Nov 1st, saw better trading, with overall Fashion store LFL sales up by 3.1%, helped by cooler weather compared to last year (when the very mild weather sent LFL sales down by 5.5%). Total store LFL sales were up by 2.0% (including Lifestyle and Homewares retailers) and overall Non-Store/Online sales were again somewhat unremarkable, up by 14.8%.
Trade Press (1):
Trade Press (2):
News Flow Next Week: The big event next week is the Sainsbury interims on Wednesday, but there’s plenty of other stuff going on. The BRC Retail Sales survey for October is out first thing on Tuesday, along with the Land Secs interims, whilst Wednesday also brings the FNAC bid deadline for Darty and the Marks & Spencer Spring/Summer range preview. Thursday then brings the Halfords interims and the Burberry interims. Nick Bubb – email@example.com
This was produced for distribution Friday afternoon: So the trading day is grinding to a close. We’re another day older but are we any wiser? After a day of intensive head-scratching, pen flipping and gossip, we have been considering the following:
• JDW closed at its lows yesterday and has given up another 10p or so this morning.
• At the time (c10am) there has been no RNS to suggest that the group has been buying its own shares back.
• It said yesterday (re its reduced rate of new openings) that it had ‘other uses for its money’.
• Certainly it is buying in freeholds where it is the existing tenant & where it gets the opportunity but, if it’s not buying its shares back at a price down 10% in just over a day, what does that suggest for the rest of us?
• We remains supportive re JDW but, as there is a lack of obvious catalysts and the bears seem to be in receipt of a steady flow of ammunition, we’re keeping our heads down for the time being.
London restaurants, oversupply etc.:
• David Coffer, Fleurets, Harden’s and the evidence of our own eyes have suggested that there is a lot of capacity going on in London.
• Mr Coffer said that even tall trees cannot grow to the sky.
• Rents have reacted accordingly. Inside the Circle Line is fast becoming a no-go area for other-than trophy buyers (or renters) of ‘must-have’ sites.
• But the truth is, you don’t need to be in Soho. Or in Knightsbridge or The City or wherever because, though it’s good to perhaps have a flagship, good returns can be made in the inner-outer boroughs and areas such as Shoreditch, Bermondsey, Hoxton etc.
• And, increasingly, in Stoke Newington, Lewisham, Kilburn etc.
• The number that jumped out at us in the Morrison’s statement was the comment that 2yr deflation now amounted to some 5.3%.
• Because that’s a lot and, for the consumer using MRW (and, to be fair, its competitors), it represents a major windfall.
• IGD says the UK grocery market is worth £177bn (year to March 2015).
• If other operators have behaved in line with MRW, that suggests the consumer is spending c£9bn less on groceries than he/she was 2yrs ago.
• The PPI ‘scandal’ has thus far put £33bn in the pockets of consumers but, arguably, this has been often spent on big-ticket items.
• Furthermore, PPI, one would hope, is a one-off whilst the consumer’s grocery savings could be permanent – or at least stretch over a number of years.
• This, once the consumer has become a little bit more confident, should be helpful for small ticket retailers such as the UK’s pubs, clubs and restaurants
• McDonald’s is going to sell ‘better burgers’, Burger King is selling booze.
• Evolution continues at a pace and, whilst the pubs etc. are going into breakfasts and coffees, it probably pays to remember that few operators trade in a vacuum and that competitive responses from even the most unwieldy of operators is always likely.
• And this, spreadsheets find hard to model.
• The Sharm news is not good for tour operators.
• Whilst the Egyptian market is not amongst the largest in Europe, it is nonetheless important re winter sun, etc., and, as such, any re-scheduling of flights etc. that becomes necessary after the UK flying ban, could be costly.
Random information, hopefully not all of it useless (re most leisure operators etc.):
• US$ a little stronger on the back of the Fed suggesting it will grasp the nettle in December. Oil price & some other commodities down both 1) on the news & implications re global growth and 2) on the basis that the non-US$ price of the commodities involved would have risen if the US$-denominated price didn’t fall.
• Sterling nonetheless up against the Euro.
• Pig prices now extremely low, down c38% over the last 12mths.
• Precious metal prices down a little on, well, your guess is as good as mine.
• MRW’s negative LfL Q3 was apparently the 15th negative quarter on the trot.
• Interesting to see that even M&S has seen its food margin decline. Waitrose has recently reported slower and even negative LfL sales progression suggesting that the battles happening further down the food chain are having something of an impact.


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This article is part of the Energy.gov series highlighting the "Top Things You Didn't Know About…"
10. Did you know that the average American's daily round-trip commute is less than 30 miles? With many electric vehicles (EVs) having a range of more than 70 miles a charge, they are a reliable and comfortable way for Americans to get from point A to point B. For longer trips, a plug-in hybrid EV with a backup internal combustion engine may be a good alternative. Both help reduce our dependence on foreign oil and contribute to a cleaner environment. Watch the Energy 101: Electric Vehicles video.
9. The electric vehicle market is growing faster than you might realize. More than 7,000 plug-in and all-electric vehicles were sold in October 2012 — making it the month with the highest number of electric car sales to date.
8. Currently, there are 13 EV models on the market, and the number continues to rise. For model years 2013 and 2014, manufacturers are expected to debut at least 18 new plug-in hybrid and all-electric vehicles, including the 2014 Chevrolet Spark EV and the 2013 Fiat 500e — both of which were unveiled at the 2012 Los Angeles Auto Show. For the complete story, see the Energy Blog on the energy.gov website.
7. Electric vehicles are a highly efficient mode of transportation. Up to 80 percent of the energy in the battery is transferred directly to power the car, compared with only 14-26 percent of the energy from gasoline-powered vehicles.
6. Unlike gasoline-powered vehicles, electric cars emit no tailpipe pollutants when running on electricity — cleaning the air we breathe and helping automakers meet the Obama administration's new fuel economy and emissions standards.
5. The battery technologies in almost all of the electric vehicles on the road today were created with support from the Energy Department, which also played a key role in the development of today's lithium-ion batteries. Argonne National Laboratory developed breakthrough battery technology — a combination of lithium-rich and manganese-rich mixed-metal oxides that offers at least 50 percent more energy storage capacity -- that is licensed by several companies including Envia, Toda, BASF and Compact Power/LG Chem. The department continues to support the advancement of the next generation of battery storage technologies that will lower cost and improve range as part of the Joint Center for Energy Storage Research.
4. The battery is one of the most expensive parts of an electric vehicle, but technological advances are making batteries less costly. Before 2009, a 100-mile range electric battery cost $33,000. Today, it costs about $17,000 and it is projected to drop to $10,000 by the end of 2015.
3. Beyond wiper blades and tires, all-electric vehicles require little maintenance, saving consumers money over the life of the car. Even the brake pads last longer in electric vehicles because they use regenerative braking to slow down -- a method of converting the energy used to reduce the car's speed into power that is stored in the car's battery.
2. In the United States, electricity costs between 3 and 25 cents per kilowatt-hour while this week's national average for a gallon of gasoline is $3.42. It costs only $1 for today's all-electric vehicles to travel the same distance as a similar-sized gasoline car would on a gallon of fuel. This adds up to a savings of more than $2 a gallon or $1,000 a year in refueling costs, and the next generation of electric vehicles will bring even bigger savings.
1. A majority of the electric vehicle owners charge their cars overnight at home when the electricity costs are lower. But with more than 5,000 public charging stations across the country, refueling your electric vehicle while away from home is even easier. Check out the Alternative Fueling Station Locator to find one near you.
Traffic safety agency urges vehicle owners and repair professionals to use only certified, original equipment replacement parts
The U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) has issued a consumer safety advisory to alert vehicle owners and repair professionals to the dangers of counterfeit air bags. NHTSA has become aware of a problem involving the sale of counterfeit air bags for use as replacement parts in vehicles that have been involved in a crash. While these air bags look nearly identical to certified, original equipment parts — including bearing the insignia and branding of major automakers — NHTSA testing showed consistent malfunctioning ranging from non-deployment of the air bag to the expulsion of metal shrapnel during deployment. NHTSA is not aware of any deaths or injuries connected to counterfeit air bags.
Only vehicles that have had an air bag replaced within the past three years by a repair shop that is not part of a new car dealership may be at risk.
Consumers whose vehicles have been in a crash and had their air bags replaced by a repair shop that is not part of a new car dealership within the past three years or who have purchased a replacement air bag online should contact the call center that has been established by their auto manufacturer to have their vehicle inspected at their own expense and their air bag replaced if necessary. The full list of call centers and additional information is available at www.SaferCar.gov.


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Get ready for the launch of long-awaited cryptocurrency of the boxing legend Manny Pacquiao by the end of this year. The StraitsTimes reports suggested that Global Crypto Offering Exchange (GCOX), a Singapore based startup will be the one to launch Pac Tokens, which is the new cryptocurrency leveraging on the popularity of the Philippine boxer.
Aside from Pac Token launch, earlier reports suggested that GCOX is also planning on launching tokens for American singer Jason Derulo as well as Michael Owen, English football star. Currently, the recent news about the potential launch of Pac Tokens by 2018 has got many of us excited, especially the crypto enthusiasts and followers of Pacquiao.
Manny Pacquiao is a much-loved boxer and is currently sitting for the position of Philippine senator. According to the reports published in Entrepreneur Philippines, he is an investor in the GCOX holding an account for the undisclosed amount of investment. Moreover, the official website page of the company also discloses the fact that the football legend Michael Owen, now retired, is also one of their investors.
The company reports that there is one matter promoting delay for the official launch and that is the pending approval from the Philippine Securities and Exchange Commission on the set of rules regarding the initial coin offerings. They are expecting the reports to set by the end of the year and they will be then allowed to launch their Pac Token, also referred to as Manny Pacquiao’s cryptocurrency.
GCOX confirms that their team is working with Pacquiao’s to finalize the price and volume of the Pac Tokens which will issue to the public. The Philippine legend is also a celebrity ambassador for tGCO. It is a blockchain-powered platform allowing celebs to create their individual cryptocurrencies for the fans. They will be able to use these cryptocurrencies in order to access some of the special content sold on the GCOX website, related specifically for the celebrity.
The company website clarifies that they are working for establishing first-ever “authoritative popularity index” with the help of token evaluation which will create for the celebrities affiliated with the platform. Moreover, the details say that doing so will also help the companies and platforms to realize the objective indication of the celebrities’ popularity range.
It isn’t the first time that the world of boxing or particularly the champions of boxing are getting affiliated with cryptocurrency sector. Though this might be the first time that a platform is endorsing a boxer’s own cryptocurrency, there are names of famous boxers who were promoting crypto before that. One of them was Floyd Mayweather, Welterweight Champion, who promoted several ICOs in the past. Evander Holyfield, also known as the Hall of Fame boxer, endorsed himself with an ICO which was later forced closure by the US Securities and Exchange Commission.


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The Bank of the Philippine Islands has enhanced its digital ecosystem to provide a more convenient and secure banking experience to its more than 8.5 million local clients.
Among the services that BPI introduced along with the said announcement are new features on its website and mobile applications including sending money to client’s own accounts and other enrolled accounts through QR code, managing investments, and debit card control such as setting withdrawal and purchase limits, blocking cards, and disabling international access. BPI users can now also set brand appointments in advance through the website.
The 168-year old bank has also launched the country’s first conversational banking app dubbed as Bea, intended to give BPI clients a personal banker right at their mobile phones which can help them in banking processes like checking account balances and transferring money.
With this, BPI is aiming to increase digital penetration among its clients from 42 percent to 50 percent by the end of the year.
“This digital ecosystem will enable our clients to shift to digital behaviors for their everyday tasks,” said Mon Jocson, BPI Chief Operating Officer. “Digital transformation is not just about applying technology. It’s also about changing mindsets and culture, from the inside out.”
Jocson shared that part of the company’s ongoing efforts to digitalization is involving and training 16,000 of BPI employees to deliver better customer service.
“If 40% of our functions now that are being served in the branch are moved to the app, we need to make sure that people in the branches are equipped to have high-value discussions with you. That’s digital transformation,” Jocson said.
“At the end of the day, although you’re digital, humans are still needed to be able to define value. In fact, a very important part of our initiative is that we need to get 16,000 of our employees into the digital bandwagon. Not only understanding, but also knowing what their role is,” he added.
BPI has also collaborated with fintech providers and online merchants including GCash, PayMaya, and Lazada, among others to bolster open banking. Currently, BPI has nine partner apps and websites and 36 open banking services.
“We’re looking at fintech providers as partners and not competitors. We want to be able to include our partners in expanding,” Joscon shared.


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The Pharmacists Council of Nigeria (PCN) has sealed 424 illegal pharmacies and patent medicine shops within the Federal Capital Territory (FCT).
Registrar of the council, Pharmacist Elijah Mohammed, disclosed this on Friday while briefing newsmen in Abuja.
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Represented by the Director, Enforcement of the agency, Pharmacist Stephen Esumobi, he said 99 pharmacies and 325 patent medicine shops were sealed out of a total of 644 premises visited during the enforcement exercise at the beginning of the week.
He said: “At the end of the enforcement exercise, a total of 644 premises comprising 216 pharmacies and 428 patent medicine shops were visited.
“A total of 424 premises made up of 99 pharmacies and 325 patent medicine shops were sealed.”
He said they were sealed for various offences ranging from operating without registration with the PCN, failure to renew premises license, dispensing ethical products without the supervision of a pharmacist, poor storage and sanitary conditions, among others.
Pharmacist Mohammed said a major factor militating against rational distribution and use of medicines in Nigeria is the existence of unregistered medicine shops across the country, adding that most of them were operated by traders who know nothing about the therapeutic or pharmacokinetic profiles of the medicines they sell to the public.
He said illegal premises pose a serious threat to public health because they have over the years become channels for distributing medicines whose quality, safety and efficacy have been compromised due to poor storage facilities and handling.