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Intel Invests $1.5B to Boost Its Mobile Assets
Intel is adding to its wireless assets with a US$1.5 billion investment in Chinese mobile chipset specialist Tsinghua Unigroup Ltd.
Intel Corp. (Nasdaq: INTC) is taking a 20% stake in Tsinghua Unigroup, which owns two fabless semiconductor developers, Spreadtrum Communications and RDA Microelectronics. Spreadtrum and RDA, which were both acquired by Tsinghua Unigroup in the past year, develop 2G, 3G and 4G mobile chipset platforms for wireless devices, including smartphones. (See Tsinghua Unigroup Closes US$907 Million Acquisition of RDA Microelectronics and Tsinghua Unigroup Completes Acquisition of Spreadtrum.)
Intel says it will jointly develop and market mobile products in China and in international markets with Tsinghua Unigroup, with the aim of expanding "the product offerings and adoption for Intel-based mobile devices in China and worldwide."
Earlier this year, Intel opened a Smart Device Innovation Center in Shenzhen and announced a $100 million Intel Capital China Smart Device Innovation Fund. (See Intel CEO Gives It Large in China.)
With these moves, Intel is further signaling its intention to challenge wireless device chip market leader Qualcomm Inc. (Nasdaq: QCOM), which has been bolstering its position in the 4G device market lately but also having trouble in China. (See Qualcomm Looks to Soften China Antitrust Blow and Qualcomm Paves Way for Sub-$100 4G Phones.)
Intel had previously acquired the Wireless Solutions unit of Infineon Technologies AG (NYSE/Frankfurt: IFX) in 2010, and renamed it Intel Mobile Communications. That unit has about 4,000 staff globally, ships hundreds of millions of units per year, and is preparing for the mass launch of its SoFIA mobile chips that are being designed for entry-level 3G and 4G devices, a market where Qualcomm has just made a splash. (See Qualcomm Paves Way for Sub-$100 4G Phones, 2014: Intel's Year of Living Wirelessly? and Intel to Acquire Infineon's Wireless Biz.)
The investment in Tsinghua Unigroup, which is expected to be completed in early 2015, is just the latest in a series of moves that will strengthen Intel's mobile-related portfolio.
In August it announced the $650 million purchase of the Axxia networking chip unit from LSI, which will strengthen its position in the wireless network and enterprise equipment market. Prior to that it acquired the wireless assets of Mindspeed Technologies Inc. (Nasdaq: MSPD). (See Intel ARMs Itself for IoT, SDN Opportunities and Intel Confirms Mindspeed Wireless Buyout.)
The move comes as the Chinese government and industry organizations adopt a strategy to expand the country's role in the global chip market.
— Ray Le Maistre, , Editor-in-Chief, Light Reading


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Proposed container factory at vacant New Venture Gear site would create 189 manufacturing jobs, company says
A proposed $92 million freight container manufacturing plant at the vacant New Venture Gear factory would employ 161 people initially and up to 189 by its third year in operation, according to the start-up company behind the project. American Intermodal Containers would build 53-foot steel containers that would be used for shipping freight by truck and rail within North America. Walker Wainwright, co-founder and chairman, said the company picked the former New Venture Gear site in DeWitt because of its proximity to interstates 90 and 81, and to the CSX intermodal rail yard in DeWitt. The New Venture Gear site has a rail spur, and it might be possible to ship the company's containers by rail directly from the plant, producing significant savings in shipping costs, he said.
Byrne Dairy to expand plant, create 50 new jobs in DeWitt
Byrne Dairy is planning to build a multimillion-dollar expansion and create 50 new jobs at its Ultra Dairy plant in DeWitt. Syracuse-based Byrne Dairy built the Ultra Dairy plant at 6750 West Benedict Road in DeWitt in 2003 for $13 million and expanded it in 2008. Nick Marsella, the company's senior vice president, said the company has invested $68 million in the plant, which employs 130 people. Demand for ultra-pasteurized products is growing quickly. To meet it, the company plans to invest $14 million in new equipment into the existing building and build an $18 million addition of up to 100,000 square feet of space, Marsella said. The project will cost a total of $32 million, he said. In return, the community would benefit by the payment of $5.2 million in payments in lieu of property taxes, $17.8 million in new employee wages and benefits over 10 years, a capital investment of $30 million by the company and $401,000 in project fees to the industrial development agency, according to its application.
Agrana Fruit US to Build $50 million facility in Lysander
Agrana Fruit, the top producer of fruit preparations for the dairy industry, will build a new manufacturing and distribution operation in the Town of Lysander, in Onondaga County, investing more than $50 million and creating approximately 120 new jobs. The company considered several Northeast locations for their expansion, but announced in April they chose New York State. New York State’s flourishing yogurt industry was a key factor in Agrana’s decision, offering the company a central location for production and distribution to leading yogurt companies in the State of New York as well as the Northeast and Canada.
Noble Health Services Opening Summer 2013
A new specialty pharmacy service is setting up shop at a former General Electric Building in Dewitt. Noble Health Services, LLC, a newly created subsidiary of Kinney Drugs, plans to open a mail-order pharmaceutical business.
Jadak Significantly Expanding Facility at Hancock Airpark
Jadak Technologies, a maker or barcode scanners for the medical industry, plans to more than triple the size of its headquarters in Cicero and create 60 jobs over the next five years.
Indian Springs Manufacturing Expanding in Lysander
Indian Springs, a 4th generation family owned company, provides quality precision CNC machined parts to a wide variety of customers throughout the Central and Western New York regions. The expansion plans will enable the company to meet the growing global demand for its hazardous materials emergency response product line by completely reconstructing its advanced manufacturing facility.
RockTenn - Solvay LLC to build new Boiler House
RockTenn, formerly known as Solvay Paperboard plans to build a 15,000-square-foot steam plant to replace vast quantities of steam the company now buys from a nearby facility that is expected to shut down. The company, which employs 240 workers, plans to start making its own steam by next June, or at the latest by September 2013
Southern Wine and Spirit of Upstate NY plans new expansion
Southern Wine and Spirits will add 183,000 square feet to its existing 250,000 square foot warehouse and distribution facility, north of Court Street in the Town of Salina.
LeMoyne unveils rennovated Coyne Science Center and Madden School of Business
LeMoyne's Coyne Science Center is noticeably different than it was a year ago after going under extensive renovations and expansions last May. The building continued reconstruction as the College renovated the west and east wings of the Coyne Science Center. In addition, the Madden School of Business is now housed in the renovated Mitchell Hall, including a state-of-the art trading floor and financial education center, an applied research and executive education laboratory, an accounting laboratory, and smart and interactive classrooms.
Bitzer Scroll expands at new location
Bitzer Scroll expanded its manufacturing and distribution center at a new location, 6055 Court Street Road, in the Town of Dewitt. The company acquired the former John Deere Warehouse and renovated the interior to accommodate their R&D engineering laboratory, and manufacturing operations (machining, finishing, metrology and two assembly lines) for two of its Scroll product platforms which serve chiller and heat pump markets globally.
Upstate spends $32M on converting vacant high rise into housing for student residents
Upstate used $32 million in bonds issued by the Onondaga Civic Development Corporation and transformed Townsend Tower, a vacant dowtown Syracuse high-rise into housing for Upstate students and medical residents. The building is renamed Geneva Tower and features 40 one-bedroom units, 80 two-bedroom units and 19 four-bedroom units for a total of 276 beds.
Time Warner adds 76 network-monitoring jobs at East Syracuse
Time Warner Cable expanded its operations in East Syracuse to monitor and manage the cable networks for nearly 6 million customers in nine states. "Time Warner Cable is pleased to announce the addition of these technical jobs to a Syracuse community that is increasingly a hotbed for high-tech economic development,” said Henry Hryckiewicz, president of network operations and engineering for Time Warner Cable’s East region. The East Syracuse location was chosen because of the infrastructure already in place. Currently, the East Syracuse operation serves more than 2 million customers in Upstate New York and New England. The East Region center serves 5.9 million customers in an area from Maine to South Carolina.
Onondaga Community College adds new dormitory
Onondaga Community College renovated a building on Onondaga Road into a 166-student dormitory to meet growing demand for campus housing.Construction on the H3 building, across the road from the main campus, was completed by the Fall 2012 semester.
$20 million-plus expansion at Sysco in Van Buren
SYSCO Syracuse LLC, a food distribution company, spent more than $20 million expanding its Van Buren facility. The project adds 125,000 square feet to the facility and increase its freezer capacity. Sysco, which provides food to restaurants and institutions, employs approximately 500 people locally. The expansion uses local construction firms and trade professionals. Sysco is also examining new clean technologies and sustainable energy features for possible inclusion in the project.
Tessy Plastics Renovates Facilities to Add 75,000 sq. ft. of Automated Assembly Operation
Tessy transformed 75,000 sq. ft. of existing warehouse space to an automated assembly operation for one of the company’s most successful products. The approximately $1.8 million expansion, which accommodated anticipated growth of manufacturing operations, included $300,000 for building renovation, $1.5 million for machinery and equipment, and $15,000 for other costs associated with the project. Tessy's existing plant received New York State Empire Zone benefits and its recent expansion benefitted from OCIDA tax exemptions.
St. Joseph's Hospital Health Center Undertakes $220 Million Facilities Expansion
The 361,000 square foot expansion project, which will build a new emergency services building, operating room suites, intensive care unit, private patient rooms and a new data center, is the largest in the hospital’s 140-year history. OCDC used its bonding authority to secure financing for the hospital's expansion. It also represents the largest “green” healthcare construction project in Upstate New York. St. Joseph’s expansion will create 600 construction jobs and 200 new, permanent health care jobs.
Aspen Dental Management Inc. Constructs $5.62 Million Expansion of Headquarters in DeWitt
The 46,626-square-foot facility at 6600 Weighlock Drive, near the company’s headquarters at 281 Sanders Creek Parkway, will be used for corporate administrative operations, training and a customer call center. OCIDA provided tax exemptions to facilitate the expansion. Aspen expects to create 126 local jobs over three years, currently Aspen employs about 350 people in Onondaga County.

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Originally Posted by Mahigan
I mean nvidia only started this milking with the GTX 780. It wasn't done on purpose either. Nvidia were responding to the Hawaii release with the GTX 780 Ti. It worked well sales wise and appears to have become their standard practice now. Nvidia tend to wait for AMDs big GPU release before launching their big consumer card. Usually making their Titan card obsolete. This time nvidia have pushed back both the Titan and High End big GPU release which hints at HBM2 being the culprit. AMD pushed back big Polaris which also hints at HBM2 production limitations. We've also heard rumours about HBM2 being in short supply. Putting it all together it makes sense.
780 ≠ 780 Ti
Nvidia didn't release the 780 in response to anything from AMD, it was out on the market for four months before Hawaii. There's also no correlation to big die AMD GPUs... because AMD tend not to have big GPUs (Fiji being literally the only GPU in ATi/AMD's history meeting Nvidia's established idea of big).
What Nvidia tend to do is respond to whatever AMD's current performance
level is quite well (280 price drop after 4870, 480/580 being GF100/GF110 at very reasonable prices from the beginning to fight the 5870, 680 being GK104 to match Tahiti), but they also seem to have their own release plans for yearly profit-maximizing independent of AMD's current products which they have executed on occasion (8800GTX, GTX 280 before 4870, Titan/780 way before Hawaii).
AMD do the same when able, including the $550 mid-sized Tahiti that kicked off the current schedules.Edited by Serandur - 2/13/16 at 1:57am


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During a question and answer session at Harley-Davidson’s annual shareholder meeting, Deborah Evans, a United Steelworkers member employed by the motorcycle icon, told CEO Keith Wandell that unionized employees weren’t “feeling the love” from company management. Rather than giving Ms. Evans some bland answer, Wandell gave her a rather straight-forward answer:
“I wish to God I could stand in front of everybody and say that you’re going to be guaranteed a job for life,” Wandell said. “We’d all be great friends and pat each other on the back and walk into the sunset together. You know what? Life isn’t that simple.”
“I will come to work every day, roll up my sleeves, work next to you on the line, whatever has to happen to ensure that we are a great company,” Wandell said. “But I’m not going to tell people something that isn’t true.”
At the heart of the issue was an employment security agreement entered into by production employees in the mid-1990s that encouraged workers to actively participate in continuous improvement efforts within Harley-Davidson’s factories without fear of losing their jobs.
The promises made at that time aren’t realistic given the unprecedented economic challenges that the company has faced since 2008, said Wandell, dressed in blue denim jeans and a white, long-sleeve Harley-Davidson dress shirt adorned with the company’s iconic bar and shield logo.
“If any one of us every [sic] believes that we aren’t going to impacted or affected by what goes on in the economy, we¹re wrong,” he said. “It’s unfortunate that the people that made that promise aren’t standing here today to tell you why it isn’t true.”
While Wandell’s answers may not have been what Ms. Evans or any of her union brethren wanted to hear, it is still better to hear the truth than nothing at all.
“I bring reason to your ears, and, in language as plain as ABC, hold up truth to your eyes.” Thomas Paine, December 23, 1776
Follow LaborUnionReport on Twitter.
For more news and views on today’s unions, go to LaborUnionReport.com.


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The world’s fastest car has been remade in Lego.
A bright-blue Bugatti Chiron made with the iconic building blocks has appeared in Moscow’s Gorky Park, giving Lego enthusiasts with expensive taste something to admire.
It’s part of an exhibition dedicated to historic Lego cars taken from the company’s museum in Denmark, which boasts Lego cars dating back to 1932.
The life-size replica of the French car was designed and constructed entirely with Lego Technic blocks except for its frame. Its construction took approximately 1 million Lego pieces and 13,500 hours of labor, the Vedomosti business daily reported.
The Lego model even has a special motor that functions like its real-life counterpart. However, it can only accelerate up to 20 kilometers per hour, paling in comparison to the Bugatti Chiron’s top speed of 420 kilometers per hour.
The exhibition debuted on Monday at Pioneer Pond and will be on display through Aug. 4.
While it’s free to catch a glimpse of the Lego Bugatti, taking it for a test drive is sadly off-limits to the public.


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(11 September 2022, 10:44 +07) Several of Europe’s largest hotel markets, led by Berlin, Germany, surpassed their 2019 levels in gross operating profit per available room (GOPPAR), according to STR‘s July 2022 P&L data.
Berlin’s July GOPPAR reached US$34.32, which is 183% of the pre-pandemic comparable. In June, the market reported GOPPAR at US$98.21, which iss 132% of the comparable 2019 level.
Bed in a Junior Suite at The Ritz-Carlton Berlin
Also reporting significant month-on-month improvements in the region, Paris posted a July GOPPAR of US$312.64, the market’s second highest this year behind June (US$347.08).
Other key markets, London and Amsterdam, reported GOPPAR that was 105% of the 2019 comparable, at US$172.11 and US$97.65, respectively.
“Europe hotel occupancy stands at just 10% shy of pre-pandemic levels, and many of the markets that were vacant last summer are now bustling with visitors,” said Alex Robinson, STR’s director of industry partners. “In July, London and Paris both reported occupancy at 85%, which was almost double of what it was the year prior. While occupancies have leapt forward, it has been room rates that have been the key driver of recovery. Europe’s July room rates were 27% higher than that of 2019, with Athens, Edinburgh and Rome as standout performers. While concerns may shade European economies in the medium term, European hoteliers have been experiencing a sun-filled recovery in recent months.”
Recent HD video interviews: Airports, Biometrics and Travel – Interview with Sumesh Patel, SITA President – Asia Pacific, Mövenpick Siam Hotel Na Jomtien Pattaya – Interview with Dmitry Chernyshev, GM, HD Video Interviews from Miss International Queen 2022 in Pattaya, Thailand, Siam@Siam Design Hotel Pattaya – Interview with Clive Nagington, Is Siam Seaplane Ready for Take Off? Interview with Dennis Keller, Chief Business Officer.


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Written by: Leonard Parker | Houston Business News | 06th October
Oct. 6, 2021
Yeti is going after Igloo once again.File photo
Two of Texas' biggest cooler and insulated cup makers are battling it out in court over claims that one copied the company's cup designs.
Austin-based Yeti filed a suit on October 1 in U.S. District Court in Houston that claims Igloo's stainless-steel bottles, stainless steel tumblers, mugs, and CoolMate infringe on Yeti's patent and profited from them, the Houston Chronicle reports.
This is the second lawsuit Yeti has filed against the company this year. In the current lawsuit, Yeti also claims unfair competition, misappropriation, and unjust enrichment.
Yeti also sued Rtic in 2017 and reached a settlement that forced Rtic to redesign its tumblers and coolers.
Yeti, a publicly traded company, has a 55 percent hold over the cooler market and does what it can to maintain its hold over the $370 million market, an analyst with market research firm NDP told the Chronicle.
A Swedish company called Dometic is on track to buy Igloo in a $677 million deal. Neither company commented on the new lawsuit.


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China is taking steps to boost consumption.
These have already started taking place, and today we saw yet another batch of announced income deductions.
This will work towards boosting consumption in the near term. This will favor not just the companies satisfying that consumption directly, but also many others.
Well, this merits a celebration.
One of the biggest market events today was Shanghai's large rebound. The Shanghai Stock Exchange Composite index was up a massive 4.09% today. This led to rallies in many different Chinese names, from those web-related to airlines.
But, in my view, a key development got lost in this rebound. That key development was the reason why the market rebounded so hard. Unlike many other days of extreme market noise, this time a real fundamental development took place.
The development I'm talking about was the Chinese Ministry of Finance and the State Administration of Taxation publishing a personal income tax deduction plan draft. This draft, along with another recent law, is chock-full of measures set to increase many Chinese families' disposable income. For instance (these are borrowed from the linked to article on Chinadaily.com):
- Expenditures on children's education will be deducted at 12,000 yuan ($1,728) a year, or 1,000 yuan ($144) per month.
- Expenses on reeducation will be deducted at 3,600-4,800 yuan ($518-$691) a year, or 300-400 yuan ($43-$58) per month.
- On medical costs of serious illness, the yearly expenditure above 15,000 yuan ($2160), or 1,250 yuan ($180) per month, can be deducted. There is an annual cap of 60,000 yuan ($5,000).
- Home loan interest on the first home will allow for a 12,000 yuan ($1,728) yearly deduction, or 1,000 yuan ($144) per month.
- Housing rent will allow for a 9,600-14,400 yuan ($1,383-$2,074) yearly deduction, or 800-1,200 yuan ($115-$173) per month.
- Taxpayers supporting parents aged 60 or above will get a 2,000 yuan ($288) monthly deduction.
- Children/dependents will allow for a 2,000 yuan ($288) monthly deduction.
All of the measures above should turn into law before the end of the year. They are set to become effective from January 1, 2019. As a result, these are measures which should start having a consumption impact within little more than 2 months.
To these measures, we can also add that China recently (October 1st) raised the personal income tax threshold from 3,500 yuan ($504) to 5,000 yuan ($720) per month. That is, the income from which personal income tax is owned went from 42,000 yuan ($6,050) to 60,000 yuan ($8,643) per year.
These changes will significantly ease the tax burden on low- and mid-income families. There were other changes which will increase the tax burden on high incomes. However, the propensity to consume is much higher for lower incomes than for higher incomes. As a result, these measures will provide a boost to consumption.
A boost to consumption could remove a large negative factor holding back not just Chinese stocks, but commodity stocks worldwide. The "China slowdown" thesis is currently in full bloom, but such could change. For now, the "China slowdown" thesis is obviously reinforced when auto sales have been dropping year-on-year for 3 months now.
Auto sales, housing sales, both to own and to let, and consumption in general will be favored by leaving lower income families with larger disposable incomes. Moreover, one factor taking down auto sales is likely temporary - it has to do with a regulatory crackdown on peer-to-peer lending networks. Peer-to-peer lending networks were estimated to be financing as much as 10% of new car sales.
If Chinese consumption is re-kindled and at the same time the peer-to-peer effect fades (we're roughly 7-8 months away from lapping it), then China will at the very least see renewed consumption growth.
This in turn will not just favor Chinese firms exposed to that consumption, but also the required commodities used to build the consumed products. Things like stainless steel, nickel, paint, TiO2, copper, zinc, etc. all stand to benefit. Less of a benefit might accrue to commodities more geared towards infrastructure (ex-housing) development, though. China typically incentivized investment, yet these personal income measures target their stimulus at consumption, which is noteworthy.
In my view, the lowering of taxes for low- and mid-income Chinese is a large positive for Chinese consumption. Since this is starting to happen now and will be greatly reinforced come January 1, 2019, I believe any impact from these measures is imminent.
This development favors companies directly exposed to Chinese consumption (selling there), companies selling advertising in China (the webs, mostly), and many different Western commodity suppliers.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.


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Evergreen Organix might seem like any other kitchen, shelves filled with baked goods like cookies, cereal treats, brownies, chocolates and fruit chews.
But there’s one key ingredient that sets this kitchen apart: pounds and pounds of marijuana waiting to be infused into the products.
“It’s a fun room of experimentation,” said Jillian Nelson, operations manager for Evergreen Organix in Nevada. “We’ve experimented with recipes and listened to consumer feedback and tried to cater our product to answer to consumer demand.”
With cannabis use legal in multiple states, many businesses are figuring out how to corner their piece of the market. For some companies like Evergreen Organix, that niche is the edibles industry.
Since the company started in 2015, it has been experimenting with edible products for both medical and recreational users. Making marijuana-infused treats without the plant’s strong flavor a science.
“You don’t want to bite into something and have it taste like marijuana,” Nelson said.
Not only did the company have to figure out how to properly dose a product so the cannabis is distributed equally, they had to make it enjoyable.
“Sometimes, [with a new recipe] we hit it out of the ballpark the first time,” she added. “Sometimes, we will have five different test batches and keep tweaking it.”
Evergreen’s team come from a variety of backgrounds, from folks with years of laboratory experience to bakers and chocolatiers who have cooked with renowned chefs or at high-end Las Vegas hotels. Nelson said the company has learned what does and doesn’t work through experimentation.
“We have consulted with some chefs in the cannabis industry, but our most valuable lessons have been learned from science and trained laboratory professionals,” Nelson said. “The art of making edibles is truly a form of culinary science, and in creating our recipes we originally spoke with several scientists to establish a baseline of how we should go about infusing our products.”
The company even has dedicated staff chocolatiers to make infused chocolates.
“The craft is essentially the same as any other chocolate-making process, however it takes a bit longer and we are more mindful of our fat ratios,” Nelson said.
Three years ago, Evergreen Organix was producing standard fare like chocolate chip cookies and brownies. Five cannabis products quickly jumped to 70, expanding to include baked goods, fruit chews and vape flavors as well as cannabis butter and coconut oil (a vegan-friendly option).
While the company has their staples, such as the ever-popular brownie, Nelson said they also make seasonal treats like pumpkin cookies in the fall.
Sometimes, a product that makes sense on paper doesn’t become a high seller.
“We tried a cannabis-infused syrup that we thought would be a hit,” Nelson said.
Before going to market with a new product, companies must clear legal hoops with the state.
“When [a company] wants to bring a product to market, they have to submit a letter saying the name of the product, the ingredients and what the infusion process will be,” said Stephanie Klapstein, a spokeswoman with the Nevada Department of Taxation. “If it’s a brownie, are you going to put [cannabis] into the oil that goes into the brownies? If it’s a gummy, are you going to inject it?”
She said the department gets about 15 requests per month.
“If it’s really straightforward, [approval] might take a day,” she said. “If it is something more complicated, it could take a few weeks.”
Armen Yemenidjian, founder of Essence Cannabis Dispensary, said edibles are among the most requested items. He predicts the cannabis market will lean even further toward these products.
“I foresee non-flower sales surpassing flower sales in the next 18 months,” he said.
Nearly all cannabis-infused products take the form of sweets and treats. Nelson said Evergreen Organix wants to look at experimenting with savory items like cheese crackers.
Yemenidjian said his dispensary stocks infused barbecue sauces and jerkies, but they are not top sellers.
“I think the next thing would be trying to make sugarless products,” he said. “I know that’s going to be difficult because sugar is used to mask the [marijuana] flavor. As a retailer, sugar-free [edibles] is something being asked for.”


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The budget electric car in India has been on the hunt for a long time and recently Tata Motors has brought a new option with the Tiago EV. Due to which it is getting a great response and on the very first day this electric car has got 10,000 bookings. In such a situation, it was believed that MG Motor’s new electric car could compete with the Tiago EV.
MG Motor’s next electric car is going to be smaller in size, which will be introduced early next year and can be launched in mid 2023. This is going to be the company’s second electric car. The company’s first electric car has received a good response in the Indian market and is now bringing small electric cars to strengthen its hold in the segment.
Rajiv Chaba, MD, Company said, “We do not believe in proposition to offer the cheapest car in the segment. Our focus is to provide our customers with great value models with great technology. We are committed to building our segment and creating new EVs. Together we are working on a unique urban mobility solution. In such a situation, a lot of features can be found in this small electric car of MG.
MG is going to use local equipment in its next electric car, in which up to 60% of local equipment will be used. The MG City EV will be built on a borne-electric platform that offers ample interior space despite the smaller cabin.
Along with this, about the production of the existing electric SUV, it said that the company is going to produce 500 units of ZS EV from October, which will be increased to 700 units in November and December. The production target of 5000 units will be achieved in this financial year and it is going to increase by 80% as compared to last financial year.
Talking about MG Motor’s current electric SUV ZS EV, more than 5000 units of its new model have been sold. A 50.3 kWh battery pack is used in the MG ZS EV facelift. The battery pack powers an electric motor that produces 173 bhp and 280 Nm of torque. On a single charge, this car can provide a driving range of up to 461 km.
MG Motor was one of the first companies to enter the electric SUV segment. The company has been taking a positive attitude towards the EV segment in the Indian market since its inception and thus the company wants to increase its influence in this segment of the market.


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China spurns gold, adding to price woes
The slump in the gold price that has occurred in recent months shows no signs of letting up, and the latest import data from China will not give any joy to gold bugs. As gold closed at $1,219.40 in New York on Friday, a report out the same day by Commerzbank stated that Chinese gold imports will "fall well short" of last year. Hong Kong's Census and Statistics Department shows China imported only 27.5 net metric tons in August.
“This puts net imports only slightly above the previous month’s low level, which constituted the lowest figure since June 2011,” Commerzbank said. The bank notes that net gold imports from Hong Kong are down by a third from the corresponding period last year, to 497 tons. August was the sixth straight month that Chinese gold imports have fallen.
The World Gold Council blames the situation on slumping domestic demand for gold. As Bloomberg explains it, when gold entered a bear market, Chinese citizens began buying physical gold in droves, pushing the nation past India as the world's largest gold consumer in 2013. But then, an anti-corruption drive by President Xi Jinping prompted fewer buyers to purchase gold bars, coins and jewelry, and imports fell. According to Commerzbank, the recent price slide has not sparked any revival of physical demand.
"Chinese gold demand looks set to fall well short of last year’s total even if it picks up in the next few months," the bank stated, adding: "The weak gold demand in China is one key reason for the slump in the gold price over recent months. So far, the price slide has not sparked any revival of physical demand. Evidently buyers in Asia are holding back in anticipation of even lower prices. Thus the gold price remains more dependent on Western investment demand.”
Of course, many gold market observers do not believe the Hong Kong import numbers, and hold to the view that a lot of gold gets into China unreported. Officially, all gold exported to China moves through Hong Kong, although the country recently started allowing direct imports via Beijing. Sources say the move is a way to keep China's imports under the radar as it seeks to hoard gold to diversify away from U.S. Treasuries.
The country's gold reserves are officially put at 1,054 tonnes — a number officials haven't updated since 2009.
Gold makes up little more than 1% of the country's $3.6 trillion in reserves compared to more than 70% for the United States, which holds 8,166 tonnes of gold in vaults.


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The automobile has transformed we live, work and play. Unfortunately, it’s also had a seriously detrimental impact on Planet Earth. And now, as it becomes more crucial to address issues like climate change, the automobile is in the crosshairs.
That’s a message many have come to just lately. Not Ron Cogan. The veteran automotive journalist was among the first to recognize the need to clean up the car, in 1992 launching Green Car Journal. Where some have focused exclusively on electrified vehicles, pure battery-electric models, in particular, Cogan and his magazine have looked at all the various green car technologies that have come — and, in many cases, gone — during the past three decades.
The latest issue of Green Car Journal focuses specifically on battery-electric vehicles. But, as is Cogan’s style, it takes a pragmatic, even somewhat skeptical, look at this potentially game-changing technology, recognizing there are still many challenges to be overcome before BEVs can clearly replace the time-tested internal combustion engine.
Cogan spoke to TheDetroitBureau.com about his years covering the green car world and what he sees coming in the years ahead.
TheDetroitBureau: These days, everyone is writing about electric vehicles but you’ve been at this for a long time, haven’t you? And don’t you take something of a broader look when it comes to environmentally friendly vehicles?
Ron Cogan: Green Car Journal, which launched in 1992, has been all about options, everything that’s happening in the green space, whether it’s methanol, ethanol and natural gas, even high fuel-efficiency gasoline. Now, there’s a huge push towards electrification. It wasn’t our call to tell people what to drive. With our 30th birthday coming up we wanted to let people read different opinions from industry leaders.
TDB: We now have General Motors CEO Mary Barra setting a transition to all-electric vehicles and announcing a second battery plant. Is this the year of the tipping point for battery-electric vehicles?
Cogan: I would agree there’s a tipping point going on in the sense that there’s a major commitment by a lot of automakers. It’s gone beyond lip service. For the industry, the tipping point is here. The question is whether it is a consumer tipping point yet. Only so many people are willing to step up to pure electric vehicles. More see a hybrid as the way to go because it’s so seamless, and some to plug-in hybrids. But have we reached a tipping point for consumers? I’m not so sure.
TDB: Yet BEVs do seem to be gaining a lot of momentum.
Cogan: Well, the range issues is being overcome to a large degree, But even with 250 miles, on a long trip you have to plan ahead (to find places to charge), which is why I think plug-in hybrids are going to be pretty huge. When you can’t plug in you’re not limited, so I think that category is really going to expand. With a plug-in you can do everyday driving in electric but switch to internal combustion when you have to go farther. I think it’s a win-win. And it will get more people into buying electric vehicles.
TDB: I find that the best way to promote electric vehicles is to get people into electric vehicles. They’re often surprised by the performance, for one thing.
Cogan: Yeah, today’s electric vehicles are pretty amazing given what they offer — everything a combustion vehicle can offer and more. The launch in an electric vehicle can be pretty exciting and some companies, like Tesla, are keying in on that, talking about how they can beat a Ferrari on track and all that. I think that’s surprising a lot of people.
TDB: I have more and more people asking if this is the right time to buy an electric vehicle. Many worry that, like with an iPhone, if they buy today something better will soon come out and they’ll regret it. What would you tell them?
Cogan: The technology, the range, all of that will improve over time, as will the cost which will continue to go down incrementally. So, it’s a tough question. If you find the right vehicle that appeals to you, it makes sense, go ahead and buy the vehicle. There are some great choices out there now and there are going to be more coming up. The jump to 250 miles (which most new BEVs are offering) is huge and there are going to be more and more charging stations coming online. True, the nature of it is that there’s always going to be something better. But do you never buy an electric vehicle because of that?
TDB: Doesn’t that make an argument for leasing, rather than buying? You can move to something newer and better in a few years — and not worry about trade-in values.
Cogan: I think leasing is the ideal way to go with electric vehicles. It means you don’t have to take as much of a risk. You know what your payments are. You know when you’re going to turn it in. And then, you can move on to the next generation of electric vehicles. Leasing takes the risk out.
TDB: Let’s talk about batteries — in particular, next-generation batteries. Honda, Ford and others are all talking about solid-state batteries (which supposedly will be lighter, deliver longer range and shorter charging times and even reduce the risk of fire). Are they real? And will they live up to expectations?
Cogan: It seems that if solid-state comes close to all the promises it would put BEVs over the top, making all the difference in the world. Solid-state, from what we hear, is the ideal technology.
TDB: What would you estimate will be the BEV share of the market by 2030? And could it be even bigger than people are forecasting now?
Cogan: It’s tough to make a prediction, and I try to avoid that. But automakers and other interests are pushing for them and there’s a lot of interest in setting up a nationwide rapid charging network. All of that takes us in the direction where we know there’s going to be significantly more electric vehicles sold by then. But many things could influence the fate of gasoline vehicles. How’s the price of gas? If gas prices stay low there’ll be less incentive for electric vehicles. Technology will influence things. A recession could, as well. Legislation clearly will have an influence, especially if it’s a disincentive to drive on gasoline.
TDB: On the subject of politics, the Biden administration wants to have 500,000 charging stations in place by 2030. Could that mean a faster growth rate for electric?
Cogan: If we get the range to drive on battery like you would on gasoline and you have a network of rapid chargers, suddenly, your functionality is increased exponentially. But there’s no way yet to know if the government is going to create (that public charging network). Administrations change. Agendas change. So, I don’t put stock into what you can count on as far as legislation matters.
TDB: But the Biden administration is clearly making a lot of proposals to promote electric vehicles. Do you like what you’re seeing?
Cogan: Yeah, as far as I can tell. I mean, we’re going to see how this all unfolds. This administration has a more proactive agenda for environmental issues in general and clean cars, specifically, than the previous administration. But I have to say you can’t always count on that. Back under the Obama administration, he wanted a million electric vehicles by 2015. It was never going to happen because there weren’t enough vehicles to make it happen. (But) I look at all of these things (Biden is proposing) as positive … a direction that seems to make sense for electrified vehicles.
TDB: You started publishing Green Car Journal in 1992. Looking back on the last three decades, what were biggest surprises, the things you didn’t count on early on?
Cogan: One of the milestones was the debut of the GM Impact prototype and then the actual production of the GM EV1, I drove one of those for a year. It was an amazing car to be in on the evolution of electric vehicles. It was also interesting to note how hydrogen was big and then (see automakers) backpedaling, Now they’re interested in hydrogen again. It’s gaining momentum again.
One of the (other) things that surprises me is that we’re seeing such a push for electrification, at the extreme high end of both luxury vehicles and sports cars and exotics.
TDB: To wrap up, is the age of the internal combustion engine coming to an end?
Cogan: I don’t think you can discount internal combustion because it keeps getting better and better. And I don’t think you can discount hybrids and plug-in hybrids and focus just on battery-electric vehicles. Those are all a big part of the solution. It may have narrowed from when we started publishing. It’s no longer really about ethanol and natural gas and propane. It’s really about electrification and significantly more efficient internal combustion engines — and a combination of the two. It’s going to be even more exciting in the years ahead seeing how it will play out.


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Google brings Android games to Windows in limited beta
You’ve always been able to play Android games on your PC, though it’s never really been easy. Projects like Android x86 and Bluestacks have typically been your best bet. Back in December of 2021, Google announced that it intended on bringing Android games to Windows, making use of the Android app layer that comes as part of Windows 11. Now, Google has brought the Google Play Games app to Windows through a very limited beta only available to some users in Hong Kong, South Korea, and Taiwan.
As reported by Ars Technica, Google says you’ll be able to “play a catalog of Google Play games on… Windows PC via a standalone application built by Google.” The company then goes on to say that it’s “excited to announce that some of the most popular mobile games in the world will be available at launch, including Mobile Legends: Bang Bang, Summoners War, State of Survival: The Joker Collaboration, and Three Kingdoms Tactics.”
In addition, games that use the Google Play Games cloud to store achievements and progress will be able to sync their progress across all of your devices, including PC, mobile, and Chrome OS. Note that this does not include regular apps on the Google Play Store, and it’s only games. For regular apps, you’ll still have to download them through the Amazon App Store or through sideloading.
Google has launched pages for the beta sign-up and a developer site, and both have some more information, though the company doesn’t go into detail about how Google Play Games works yet. All we know so far is that it’s not built on existing technology from Microsoft, Bluestacks, or others, and that it also isn’t game streaming. The company has released a set of minimum requirements that you’ll need to meet:
- Windows 10 (v2004)
- Solid state drive (SSD)
- Gaming-class GPU
- 8 logical cores of CPU
- 8 GB of RAM
- 20 GB of available storage space
- Windows admin account
- Hardware virtualization must be turned on
- Compatible PC device and configuration
Google says that the official release date will vary among regions. The company will start with the beta regions of Hong Kong, South Korea, and Taiwan, and will expand to other regions later in 2022 and beyond.


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Destination Canada is targeting a 5% increase in UK visitor numbers this year after revealing a 17% hike in arrivals from the UK in 2016.
A total of 833,329 arrivals from the UK last year contributed to an overall total of 19.98 million visitors, Canada’s best performance for 14 years and just 0.4% below the record number set in 2002.
David Goldstein, chief executive of Destination Canada, said: “The UK is our second largest market after the US and to see that kind of growth is really spectacular.
“We have set ourselves a conservative growth target of 5% in 2017, but speaking to our partners in the trade we believe there is an opportunity to exceed that.”
Goldstein credited ongoing marketing and trade activity and an increase in airlift for the positive momentum.
“We have seen an unprecedented number of seats in the market, with WestJet alone bringing 200,000 seats onto routes between the UK and Canada,” he said.
“The exchange rate message is not as strong in the UK as it is in other source markets, so our focus has really been on painting a distinct picture of what Canada has to offer.”
As part of its growth plans, Destination Canada is aiming to increase the number of UK agents signed up to its revamped Canada Specialist training programme from 1,000 to 2,000. It has developed a range of promotional activities including sending marketing materials to agents that complete the course.
It will also host 60 UK agents on a megafam later this year, in addition to holding roadshows and webinars and adding more content on its online platforms.
Rupert Peters, UK managing director, said average length of stay for UK visitors had increased from 12 to 14 days, but the increased airlift also presented greater opportunities for shorter visits including city breaks.
He added: “The travel trade is central to our strategy, so we are ensuring our trade partners have all the knowledge they need to sell Canada to their customers.”


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Kährs extends its environmental commitment with the world’s first floor made from FSC®-Fairtrade® certified wood
At Domotex 2012, the world’s leading trade fair for floor coverings, Europe’s top manufacturer of wood floors launched four floors from FSC®-Fairtrade® certified wood, marking a world first in certified environmental and socially responsible hardwood flooring.
As the world’s first floor made from dual-certified FSC-Fairtrade wood, Kährs’ new range will be one of the most environmentally conscious and socially responsible wood flooring on the global market. Produced as part of the first FSC-Fairtrade sustainable small scale forestry and ecotourism project in Chile’s Curacautin Valley, the collection supports not only the restoring of biodiversity in the forest, but also reducing poverty and restoring rights to the indigenous Mapuche and descendants of pioneer families.
View press release


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Apple’s iPad Air series has been one of the most sought after products with the company selling more than 200 million units of the 9.7-inch variant. Couple of years after the launch of iPad Air 2, the device’s third model has been much anticipated.
The Apple iPad Air 3 was expected to be released in September alongside the iPhone 7 series, according to ITPro. However, the Cupertino-based tech company instead launched the Pro versions of iPad in two different sizes – the 12.9-inch and the 9.7-inch variant.
A lot of costumers believed that the iPad Pro’s 9.7-inch model was the replacement for the iPad Air 3. News reports have suggested that there is a high possibility that Apple may bid adieu to the iPad series in favour of smaller tablets like the iPad Pro.
However, Apple has not commented on this yet.
According to PCAdvisor, the iPad Air 3 will be released sometime this year, the device's WiFi-only 32GB variant will cost $499.


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Employees assemble a CT scanner at a production line of Neusoft Medical Systems Co Ltd in Shenyang, Liaoning province, on March 16. (Photo by Zhang Wenkui/For China Daily)
CEOs of companies headquartered in the Chinese mainland and Hong Kong are investing in new technology to achieve their growth objectives, a new KPMG report showed.
The report, Collaborating and innovating for growth - 2018 China CEO survey," features findings from a survey of 1,300 CEOs worldwide, including 125 from the Chinese mainland and Hong Kong, across a wide range of industries.
An overwhelming majority of China CEOs, 91 percent, view "technological disruption" as more of an opportunity than a threat, an increase from 75 percent in 2017.
More than half of them say they use AI, with the key benefits including improved data analytics, data governance and customer experience.
More China CEOs than their overseas peers intend to collaborate with innovative start-ups, join industry consortia focused on the development of innovative technologies, and increase investment in disruption detection and innovation processes.
"The promotion of innovation is also a key priority under the 13th Five-Year Plan, and the Chinese government has actively cultivated new industries, encouraged innovation in technology, products and business models, and sought to establish a platform for high-end R&D," according to Honson To, Chairman of KPMG China and Asia Pacific.
Nearly two thirds of surveyed China CEOs said their organisations will prioritise emerging markets for expansion over the next three years, with Central and South America, Eastern Europe and Asia Pacific the three key market regions.
The focus on emerging markets is understandable, as the Belt and Road Initiative and development in the Guangdong-Hong Kong-Macao Greater Bay Area are helping to drive trade, investment and economic growth in the regions, To said.


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This is disturbing: Google’s contractors who transcribe audio clips collected by its AI based Google Assistant can listen-in to sensitive information about users, including names, addresses, and details about their personal lives, Belgian outlet VRT News reports. Following the report, Google conceded that it “partner[s] with language experts around the world” and 0.2% of all audio snippets collected are reviewed. It also said that it reviews the collected audio “whether you’re speaking English or Hindi”. This indicates that information of Indian users of Google Assistant might also have their audio reviewed by Google’s transcribers. Google has been promoting its assistant in India via hoardings and even television advertisements.
MediaNama has reached out to Google with the following questions:
- How many clips are generated everyday (In India)?
- What is the percentage of those clips that are heard by language experts?
- Is this program going to stop or will Google continue to let transcribers listen to audio clips?
- Do you have a team of such “language experts” who transcribe the audio of Indian users?
0.2% of all audio clips is not a small number
Google said that its transcribers review around 0.2 percent of all audio snippets collected by Google Assistant. Here’s the problem with that: In India, Google Home’s market share is around 39% as of now. Android, which has the Google Assistant on phone, has the largest marketshare of phones in India. Even if, for example, 1 million conversations are recorded each day – which is a conservative assumption – it would mean that transcribers have access to 200,000 audio snippets each day, and these are the numbers for India alone. Imagine the numbers for markets like the US and Europe where more people use Google Assistant each day. The VRT News report claimed that Google has thousands of transcribers spread across the world.
VRT also reported that Google’s claims of anonymising audio clips before reviewal isn’t entirely true. A transcriber told the outlet that often times it isn’t clear to them as to what is being said and transcribers have to then look up every word, address, personal name or company name on Google or on Facebook. This way, the identity of the person in the audio clip is discoverable without much effort.
Spooky AI assistants
This isn’t the first story that shows how our interactions with virtual assistants may not be as private and secure as we might believe. In April this year, we reported that thousands of Amazon employees around the world listen to users’ voice recordings captured on Alexa-powered Echo speakers. Amazon workers listen to the audio clips which they then transcribe, annotate and feed back into the software to improve Alexa’s voice recognition ability and to help it understand commands better. The teams are based out of Amazon offices in Boston, Costa Rica, India and Romania with each reviewer working for 9 hours a day working on 1000 audio clips per shift.


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In current cryptocurrency alternate information, Bitfinex has launched new withdrawal charges, the CEO of Bitmex has refuted accusations that the alternate’s in-house buying and selling desk trades towards its prospects, and Malta-based Bistraq Trade has commenced operations.
Additionally Learn: Stablecoins Fetch a Premium as BTC Hits Yr Low
Bitfinex to Cost three% on Frequent Withdrawals
Bitfinex has launched new charges on exterior wire requests that look like designed to scale back the frequency and dimension of fiat withdrawals. As of this week, the alternate will begin charging three p.c when its prospects make greater than two fiat withdrawals inside a 30-day interval. It would additionally cost a three p.c payment when prospects request “greater than $1 million in combination in fiat withdrawals in any 30-day interval.”
Bitfinex claimed that “common withdrawals” is not going to be affected by the change, estimating that it’ll not influence “99 p.c” of its prospects. Nonetheless, the alternate “might exempt prospects from this cost in its sole discretion.”
The corporate additionally claimed that it “serves as the first fiat gateway within the crypto ecosystem.” It added that it has processed greater than 700 withdrawals, price greater than $1 billion in whole, over the past month alone. Regardless of the purportedly excessive variety of withdrawals it stated it has been dealing with, a fast glimpse on the alternate’s subreddit means that a lot of its prospects are nonetheless ready for his or her transactions to be processed.
Bitmex CEO Pushes Again In opposition to Accusations
In a current interview with Yahoo Finance U.Ok., Arthur Hayes — the chief govt officer and co-founder of Bitmex — has sought to disclaim accusations that the corporate’s buying and selling desk has traded towards its prospects. Referring to a Medium article that circulated all through the cryptosphere final month, Hayes said that Bitmex doesn’t commerce towards its prospects and doesn’t present “particular entry to anybody.”
He stated that whereas Bitmex has a market-making desk, it exists solely to supply liquidity to the alternate’s order books. He added that the market-making desk can be “a buyer,” claiming that it “is handled like another account.”
Malta-Based mostly Bistraq Trade Begins Operations
Bistraq has commenced operations, turning into the newest alternate to function underneath Malta’s Digital Monetary Asset (VFA) rules. Angelo Jansen, the chief govt officer of Bistraq, stated the corporate believes in “honest” cryptocurrency rules. “That’s the reason we obtained the VFA Licenses,” he added.
At the moment, Bistraq helps BCH, ETH, LTC and BTC pairings, with plans to introduce extra crypto-assets sooner or later. It additionally plans to ultimately facilitate the buying and selling of tokenized property, with Jansen describing safety tokens as “the subsequent mega-trend in cryptocurrency.”
What do you concentrate on Bitfinex’s hefty charges on massive and frequent fiat withdrawals? Share your ideas within the feedback part beneath.
Photographs courtesy of Shutterstock
At Bitcoin.com there’s a bunch of free useful companies. As an illustration, have you ever seen our Instruments web page? You possibly can even lookup the alternate charge for a transaction prior to now. Or calculate the worth of your present holdings. Or create a paper pockets. And far more.


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A customer smiles after test driving a Car2go North America LLC vehicle in San Diego, California. Daimler and the Chongqing authorities have signed a letter of intent that will put several hundreds of its two-seater smart cars on the road within a year. [Photo/Agencies]
It was announced recently that the world-famous auto brand Daimler with its Car2go car-sharing service brand plans to launch its first operation in Asia later this year.
But what is most noteworthy is the choice of city: western China's Chongqing municipality.
Many have long argued the need for major investment by established Western brands across China's relatively undeveloped areas, and Daimler with its flagship, iconic Mercedes brand hits the spot.
Daimler and the Chongqing authorities have signed a letter of intent that will put several hundreds of its two-seater smart cars on the road within a year.
Car2go claims more than 1 million customers and 400,000 weekly rentals in Europe and North America, where it is one of the leading providers of station-independent car sharing services.
But why has Daimler with its Car2go brand chosen the Chinese mainland and Chongqing for its first venture in Asia
One obvious reason has to be population, which was just under 30 million according to the 2010 census.
Daimler's decision was almost certainly influenced by the fact that Chongqing is a manufacturing center and transportation hub.
And in July 2012, the Economic Intelligence Unit described Chongqing as one of China's "13 emerging megacities".
Another factor is the establishment of new economic zones across Chongqing as the city aims to surpass Tianjin and even Shanghai and become one of the most attractive cites for overseas investors on the mainland.
The establishment of the Liangjiang New Area and Chongqing New North Zone in the past three years was a major boost for investment in the city and western China. Chongqing is regarded as "the gateway to western China".
Daimler is probably aware of the burgeoning retail sector in Chongqing, where fast moving consumer goods and fast fashion retailers are flourishing.
And China's fast-developing rail network with its links across Central Asia and onward to Europe contributed to Daimler's decision.
Chongqing is the terminal of a rail link opened in 2011 that stretches across six countries, all the way to the German city of Duisburg.
Companies based in or near Chongqing have an easier, cheaper and quicker transfer of their goods to the lucrative markets of western Europe. Moving freight via this rail link typically takes just 16 days, compared with about 22 days from one of China's coastal ports.
Chongqing also boasts a proud and distinctive history and culture. Often referred to as the "city of heroes", it was the city of Chongqing that became the temporary capital soon after the Japanese invasion during World War II.
And it attracts tourists from around the world, especially for its famous for spicy food.
Daimler has done its homework well. Further investment by global brands is expected to fuel the exponential rise of western China.
The author is a visiting professor at the University of International Business and Economics in Beijing and a senior lecturer on marketing at Southampton Solent University's School of Business. The views do not necessarily reflect those of China Daily.


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Not just Chat GPT. Here are the top trends that are changing our digital lives
Generative artificial intelligence
Artificial intelligence and machine learning (software that "learns" as it goes along) are already being used to make recommendations (e.g., online shopping), in voice assistants (e.g., Alexa) and for automatic text translation.
There is a war going on in this area between Microsoft, which is investing heavily in Chat GPT maker (an Open AI company), and Google, which is implementing its own artificial intelligence into its search engine. Meta, meanwhile, is working on AI-supported software to generate video from a text message. This is expected to be a more advanced technology than those found in Dall-E or Stable Diffusion.
Metawersum aims to make the online world more like the real world, if only through virtual and augmented reality technologies. Examples include the use of digital avatars and the equivalent of tangible spaces (if only to hold business meetings) or the use of 3D virtual spaces to guide customers around the digital equivalents of stores.
Youtube and Meta are already creating libraries of 360-degree video and images, as well as computer-generated objects and backgrounds that can be used to build 3D worlds. Apple and Qualcomm, meanwhile, are working hard to develop VR headsets, which could premiere as early as this year.
Owners of digital assets will be looking for a way to confirm their authenticity and ownership. With help comes blockchain technology and NFTs (non-exchangeable tokens). An NFT is a record on the blockchain network, which is a form of digital confirmation that we own a digital asset, such as a graphic or video.
Although the NFT market experienced a painful decline after an excellent 2021, Nasdaq forecasts that the current year will be much better for it.
It is a type of digital record or digital ledger of transactions. Blockchain technology is transparent (it allows anyone to see its updates) and secure (all fraudulent activity on the network is quickly detected and removed). Blockchain is also largely immune to hacking attacks, as it relies on computers rather than a single server.
Companies have realized that using influencers to promote a brand is more effective than relying on company social media accounts. Thoughtful posts by employees on social networks can appear much more authentic to other users than corporate PR.
Organizations will likely develop procedures to encourage teams and employees to communicate and distribute material on behalf of the company.


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CRISTIANO Ronaldo has been spotted out shopping with girlfriend Georgina Rodriguez amid rumours that she’s pregnant.
The football legend, 32, was spending time in the Spanish capital of Madrid when he decided to hit the glitzy shopping districts.
Donning a crisp white shirt with distressed denim jeans, Cristiano kept his cool in the intense Spanish heat as he browsed through the Versace store.
He was joined by girlfriend Georgina Rodriguez, 22, who set a glamorous tone in a classic black t-shirt with matching black denim shorts and a pair of towering stilettos.
It comes just days after the couple sparked pregnancy rumours after sharing a picture with Ronaldo holding his girlfriend’s waist.
It seems like the shopping trip wasn’t a huge success as the couple were soon escorted to a nearby car by several members of Ronaldo’s security team.
Cristiano looked every part the doting boyfriend as he followed his stunning lover out of the designer store.
Georgina fuelled the pregnancy rumours when she posted a picture of herself at the doctors surgery, prompting many to think Cristiano was to become a father for the second time.
But it appears her trip to the doctors was to visit Dr Rafik Dehni who specialises in plastic surgery.
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Dehni has dealt with a number of high profile clients in the Spanish capital of Madrid.
The timing of the upload may annoy Ronaldo’s mum after she recently laughed off speculation that her son would become a father for the second time.
Speaking to Portuguese magazine Flash, Dolores Santos said: “It’s just nonsense, it’s just a hand on the belly, and as far as I know, Cristiano will not be a father again.
“I hope he has more children, he wants to be a father again, now that Cristiano has money, he can raise more children as well.”
Ronaldo already has a six-year-old son called Ronaldo Jr from a previous relationship with an unknown woman.
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I’ve said it a dozen times- Star Wars: Galaxy’s Edge is the largest single-themed land that Disney has ever created. We Disney Fans know it’s incredible, but it just got some pretty amazing accolades.
TIME Magazine named Star Wars: Galaxy’s Edge in Disneyland one of the world’s greatest places! TIME identified 100 destinations based on their unique experiences; destinations include places to stay, visit, and dine. These 100 destinations include libraries, museums, national parks, trails, pizzerias, restaurants, and bars all around the world from Dubai and Mozambique to Oklahoma.
Star Wars: Galaxy’s Edge opened in Disneyland on May 31st, 2019, and it has been a guest favorite since then with Millennium Falcon: Smugglers Run, which has seen more than a million riders since its debut, being a top-rated attraction. An equally immersive and exciting and virtually identical land will open in Disney World this week, and I’m going to be there! Star Wars: Galaxy’s Edge in Disney’s Hollywood Studios will open to the public on August 29th, 2019.
Star Wars: Galaxy’s Edge: One of the World’s Greatest Places?


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In the sea of ”Metamates”, Sheryl Sandberg is jumping ship or being pushed on board. Either way, the company formerly known as Facebook – under a new name and bound by a new destination – has the same captain. And he will take full responsibility for the trip from this point forward.
In a Facebook post on Wednesday, Ms. Sandberg said she would step down as chief executive of Meta after 14 years at the company. Her stated reason is to focus more on family and philanthropy, but the move comes at a sensitive time for an ad business she heads — and still accounts for 97%. company revenue.
https://www.wsj.com/articles/meta-loses-an-anchor-11654127363?mod=rss_markets_main Meta Loses an Anchor – WSJ


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Year in Review: Wellnex Life (ASX:WNX) with Executive Director and CEO, George Karafotias
Stockhead’s Year in Review video series is a yearly wrap up address from company leaders showcasing latest achievements, discoveries and developments of emerging ASX companies.
In this instalment George Karafotias, Executive Director at Wellnex Life (ASX:WNX) takes a look back on the company’s achievements in 2022.
Wellnex Life is a brand and product innovator in the ever-growing Health and Wellness market which is worth $10.7 billion in Australia alone. Their vision is to create, innovate, source and deliver the highest quality products and brands to consumers in Australia and the globe.
To hear about the company’s 2022 highlights, click above.


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Google today announced Google Play game services for iOS and Android at its Google IO conference keynote in San Francisco.
Hugo Barra, Google’s vice president of Android product management, took the stage during the Google IO keynote to show off the new set of gaming-specific Google APIs.
“Let’s talk about gaming,” Barra said.
Google Play game services includes cloud saves that work across devices, achievements, and leaderboards that use Google+ circles.
Barra showed off leaderboard functionality in the Android version of the popular indie game World of Goo.
He also revealed that Google Play game services will include matchmaking services to facilitate multiplayer gaming, but failed to show it off due to network difficulties during the keynote.
Google Play game services will be available starting today.


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Google (GOOGL.O) of Alphabet Inc. is establishing its first ever Africa product development centre in Nairobi, Kenya, as it prepares to service a growing number of internet users on the continent.
According to the California-based corporation, by the end of this decade, the continent will have 800 million internet users and a third of the world’s adolescent population, making it an appealing investment destination.
According to Suzanne Frey, vice president of products, and Nitin Gajria, head of Google Africa, in a joint blog post on Tuesday, Google is seeking engineers, product managers, user experience designers, and researchers to staff the new centre.
Sundar Pichai, the firm’s CEO, announced in October that the company will invest $1 billion in various programmes across the continent over the next five years to help economies accelerate their digital transformation.
It has already established an artificial intelligence centre in Accra, Ghana, focused on solutions to diverse problems.
Microsoft (MSFT.O) has also invested $100 million in technology development centres in Kenya and Nigeria, employing hundreds of engineers in both countries.


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Banqueting House is now almost full for The DailyDOOH Gala Awards and once again this prestigious Black Tie awards ceremony is not only an evening where our industry can truly be celebrated in style but a great opportunity to network.
Those who have been kind enough to buy tables include; NEC Display Solutions
Scala, BroadSign, Barco, Ayuda Media Systems, AssoDS, Ocean Outdoor, BlueFox, Amscreen, Eye Airports, Christie, VISCOM (Reed Exhibitions), RMG Networks, Limited Space Media Group, Amigo, Daktronics and Adlux.
There are still a few individual tickets available and anyone interested should contact Russ Curry
The DailyDOOH Gala Awards take place at Banqueting House, London on Thursday November 28, 2013.


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Payment system operator sees four new participants in just 12 months
Starling Bank, one of the new breed of mobile-only challenger banks, has joined Bacs Payment Schemes Limited (Bacs); the bank becomes the latest participant to offer access to systemically important payment methods, Direct Debit and Bacs Direct Credit, to its commercial customers.
In the last 12 months alone, four new banks – including Starling - have joined Bacs, providing even wider access to the nation’s most prolific payment system; last year, Direct Debit and Bacs Direct Credit payments totalled 6.35 billion in number, a new record, with a high of 111.7 million transactions processed on a single day.
Michael Chambers, chief executive officer of Bacs, said: “Bacs has been around for 50 years this year, yet our payment methods clearly still resonate – with bill payers, with billers, and for salary, benefit, and pension payments, demonstrated by the fact that we process more transactions and set new records every year.
“That an exciting challenger brand such as Starling sees merit in being able to provide its commercial customers with a route into our schemes is further endorsement of our payment offering, and I’m thrilled to have this new bank on board.”
Julian Sawyer, Starling Bank’s chief operating officer, commented: “In tandem with Starling joining the SEPA Payments system, our membership of Bacs reduces the barriers for Starling customers facilitating seamless payments transfers for personal and business accounts.
"I'm delighted to say our integration with Bacs is already live and we look forward to building on our platform throughout 2018.”
For further information contact our press office.


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British group says global pork shortage ‘unavoidable’ next year
By CHARLIE WELLS
NEW YORK DAILY NEWS|
Sep 25, 2012 | 8:37 PM
Bacon fans might want to hog as many strips as possible this year because a global pork shortage in 2013 is now being called "unavoidable."
With the number of pigs slaughtered expected to decline by as much as 10 percent in some regions, prices of pork are slated to skyrocket, according to England's National Pig Association.
The pork price increase comes mostly as a result of droughts in agricultural areas of the US this year. As temperatures rose and crops like corn and soy failed in the Midwest, the cost of pig feed spiked.
High feed prices meant farmers couldn't afford to keep large herds, and have had to kill pigs as a result.
This has actually meant an increase in the pork supply in the short-term. American pork supply increased last month by 31% to 580.8 million pounds, up from 442.9 million pounds in August of 2011.
While there might be plenty of pork to go around for the time being, smaller herd sizes mean that come next year, it could be an entirely different story.
To prepare for the shortage, countries have taken several surprising measures.
China — a country where pork forms a central element of cuisine — has established a "strategic pork reserve," stockpiling frozen pork being in refrigerated warehouses throughout the country to minimize price changes.


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The worry, as seen in poor results for recent 3-D releases like Cats & Dogs: The Revenge of Kitty Galore, is that theater chains and studios have overreached on pricing. “We suspect some consumers are choosing 2-D movies solely to reduce the cost of their moviegoing experience,” wrote Richard Greenfield, an analyst at the financial services company BTIG, in an Aug. 23 research note.The top grossing film for the summer of 2010 was Toy Story 3, which took in $405 million at the North American box office and grossed more than a billion dollars world-wide.
Sunday, September 5, 2010
Summer Box Office
The New York Times reports that while box office revenue went up 2% this summer compared to last, attendance was actually the lowest since 1997. It's only higher ticket prices, specifically for 3D films, that's driven the increased revenue.


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When political strife plagues Ivory Coast, chocolate lovers should take notice.
The small West African country is the world's largest producer of cocoa by far, and its fate can dramatically change the price of candy bars in the United States.
Cocoa prices have surged 9 percent this month as Ivory Coast's presidential election turns into a standoff, according to the International Cocoa Organization in London.
"It hasn't hit us yet, but it sounds like it's going to go up," said Donna Bolles, manager of the retail store for Big John's Pacific Food Importers in Seattle. Big John's should have enough chocolate inventory to get through the holidays without raising prices, Bolles said. She is more focused on the skyrocketing price of crystallized ginger, which doubled in the past month to $10.70 a pound because of crop failures in China.
Many factors determine food prices, which are expected to rise this year on everything from beef to milk and coffee. Growing demand from China, India and other emerging markets plays a role, as do farmers' perennial worries: bad weather, disease and pests.
But in the case of chocolate, an unstable political climate in Ivory Coast has outweighed most other factors for the past decade. It produces about 35 percent of the world's cocoa.
"In the past, there's been a lot of violence in that country that disrupted exports, and now they have two guys declaring themselves the leader, which is driving prices up," said Phil Flynn, a commodities researcher at PFG Best Trading in Chicago.
Eventually, consumers will either pay more for chocolate, or candy bars will get smaller, he predicted. Mars, Snickers and other bars have shrunk in recent years as big chocolate companies cut costs.
"You can't pass the prices on to consumers who are struggling, so you end up giving them less in ways you hope they won't notice," Flynn said.
Manufacturers also have cheapened their ingredient mixes, using fewer chips and adding cocoa flavorings and compound coatings that are substitutes for chocolate, said Judy Ganes Chase, a commodities consultant in New York. "There is just so much bar-shrinking you can do."
If Ivory Coast's conflict is resolved quickly, cocoa prices might stabilize and not be passed on to consumers, she and others said.
The escalation of cocoa prices slowed a bit this week after Ghana's state cocoa agency, Cocobod, offered more cocoa to the market, according to Dow Jones Newswires. Ghana is the world's second-largest cocoa producer.High-end chocolatiers and confectioners say they do not anticipate sharp increases, partly because they already pay such high premiums for cocoa.
"We're not sourcing from the Ivory Coast," said Andrina Bigelow, CEO of Seattle-based Fran's Chocolates, which makes truffles and other treats using chocolate from France that is made with cocoa from a variety of countries, including Ecuador, Venezuela, Madagascar and the Caribbean.
Andy McShea is chief operating officer of Theo Chocolate, an organic, fair-trade chocolate manufacturer in Seattle. He sees the current crisis in rising commodity prices as economic karma.
"Fundamentally, it's a comeuppance, really, because had some of that profit trickled down to farmers, there might be more social stability in that particular place."
Whatever happens with Ivory Coast politics and cocoa prices, chocolate lovers appear to be safe from major price increases until Christmas.


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Coke, Pepsi, Bisleri partner to launch plastic waste management entity
Representatives of PACE said the participating companies will infuse investments upwards of Rs 1,000 crore on mobilising and converging assets and resources for plastic waste management.
3 IL&FS entities turns green after signing term sheet with lenders
The binding term sheet has a revised proposal for debt-restructuring, with...
Mukesh Ambani’s shareholding has not increased in company, says RIL
Reliance was clarifying on reports Wednesday that said Ambani’s stake in ...
Corporate tax system complex, need to make it more streamlined, says CBDT's Akhilesh Ranjan
DTC report focuses on using tech to improve compliance; growth in direct tax collections less than expected.
HDFC AMC front-running case: Sebi settles case with 2 entities
In two separate settlement orders, the regulator said that adjudication proceedings initiated against the two entities are settled and disposed of.
Government to shut Metals & Minerals Trading Corporation, State Trading Corporation, Project and Equipment Corporation
While the government wholly owns PEC, it has about 90% stake in MMTC and STC.
Sebi slaps Rs 19 lakh fine on 2 entities for fraudulent trading
The entities facing penalty are - Akashganga Agencies Pvt Ltd and Ajeit PS Rajbans HUF.
Unable to understand opposition to new motor law, says Gadkari
Gadkari said he was unable to comprehend why drivers in Delhi were opposing the new law as those who follow traffic rules need not fear and moreover the new Motor Vehicles Act was to save their lives.
Microsoft drives S&P 500 near record high
The software giant's plans to buy back $40 billion in shares also boosted the Dow and the Nasdaq, while driving a 0.7% gain in the wider technology sector.
NMDC cuts iron ore prices by Rs 200 per tonne
The state-run firm also cut the prices for iron ore fines, which is inferior grade ore, by Rs 200 to Rs 2,460 per tonne, NMDC said in a BSE filing.
Bharat-22 ETF 4th tranche may hit market in Oct
Proceeds from the ETF will help the government meet its disinvestment target of Rs 1.05 lakh crore for the current fiscal.
Govt reworking its strategy to enhance direct tax mop-up: CBDT Member Ranjan
Ranjan, who is also the convenor of the task force on Direct Tax Code, said taxpayers in the country should not see paying income tax as a burden.
Mesmerised by iPhone 11? Samsung & Nokia's feature-rich smartphones will help you beat the Apple temptation
If you want to join the folding phone bandwagon, the LG G8X ThinQ can be your best bet.
Coming: ET CEO Roundtable on how to battle the slump
September 25 event to see India Inc’s finest, Nitin Gadkari and Sadhguru provide key insights into economy and business.
NCRTC likely to provide freight movement on regional rapid transit system
According to the NCRTC, RRTS is envisioned to serve as a more sustainable alternative for urban freight movement in the NCR by handling goods at its depots.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service


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Blackberry has filed a lawsuit against Facebook accusing it of infringing intellectual property rights over few of the most basic characteristics of modern messaging apps like the notification counter which appears on the app icon and chat while playing games.
The lawsuit alleges that Facebook “created mobile messaging applications that co-opt BlackBerry’s innovations, using a number of the innovative security, user interface, and functionality-enhancing features that made BlackBerry’s products such a critical and commercial success in the first place.”
The lawsuit further alleges that the infringement is not just committed on the part of Facebook for its native apps but the apps it acquired as well—Instagram and WhatsApp.
“Defendants (Facebook and its subsidiaries) have used BlackBerry’s own intellectual property to compete with it in the mobile messaging space. These applications are ever expanding, including Facebook Messenger, Facebook Messenger Lite, Facebook Pages Manager, Facebook.com and Facebook Workplace Chat, the WhatsApp Messenger application made by WhatsApp Inc., and the Instagram application made by Instagram, Inc,” it says.
The lawsuit if won by Blackberry, however, the chances of happening that are slim, according to ArsTechnica, can force Facebook to overhaul the design and functionality of its apps which are used by billions of people worldwide.
Interestingly, the same technologies are being used by other tech companies as well, be it Apple, Google or Telegram. Though, the lawsuit does not name any other company.
“We have a strong claim that Facebook has infringed on our intellectual property, and after several years of dialogue, we also have an obligation to our shareholders to pursue appropriate legal remedies,” a Blackberry spokesperson said in a mail to ArsTechnica.
However, miffed Facebook is in no mood to settle. “Blackberry’s suit sadly reflects the current state of its messaging business. Having abandoned its efforts to innovate, Blackberry is now looking to tax the innovation of others. We intend to fight,” Facebook deputy general counsel Paul Grewal said in an email statement.
It is not unusual for a beleaguered company to vie for extra bucks by suing industry leaders in their respective field by weaponising patents. Yahoo and Nokia after losing their top position have taken this route in the past.


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On 26th November 2021, the Gujarat Drone Mahotsav was held at the GMDC grounds, Ahmedabad. The event was organized by Pradip Patel, CEO at Prime UAV, and sponsored by Dholera Industrial City Development Limited, Adani Defence and Aerospace, and Blue Ray Aviation. Also, in collaboration with the Ministry of Civil Aviation (MoCA). It showcased Indian-made drone technology and spread awareness about the application of drones.
Indian-Made Drone Technologies On Display
On 25th August 2021, the government released liberalized drone laws that could finally help the industry grow. These laws have simplified several procedures required to buy and fly drones. Additionally, the new drone rules will make the process for drone manufacturers easier. The event was attended by hundreds of drone enthusiasts and students. Everything from agricultural drones to survey drones was displayed by various companies.
Survey drones of Aerosys Aviation, a Noida-based start-up were exhibited. The company is working in collaboration with the Bihar government to map flooding-prone regions. After surveying the region, through photogrammetry software, inundation patterns can be predicted. This can aid in speedy evacuations and warnings. Photogrammetry has multiple uses, for example, to survey a dense forest area or a disaster zone.
Other prominent drones that were on display were agricultural drones. India is an agriculture-based economy. Therefore, agricultural drones have enormous market potential. Agri Udaan, an Ahmedabad-based company, showcased their pesticide-spraying drone at the Gujarat Drone Mahotsav. The agri drone can carry a payload of 11 liters and spray up a 15-acre plot within minutes. Apart from aerial spraying, drones can gather critical data about plant health, soil health, plant disease, etc., through various vegetation indices. If you want to learn more about how plant health can be managed using drone data, check out our guide on vegetation management.
Lastly, there was also an exhibit by the Ahmedabad Fire Emergency Services. The fire department showcased a thermal scanning drone that can identify the source of the fire, spread patterns, people, etc. through thick smoke or from behind a wall. Reportedly, this was successfully put to the test in a 2019 fire in the city.
Can India Become a Drone Hub by 2030?
Prime Minister Narendra Modi has affirmed his vision of making India a global drone manufacturing hub by 2030. Despite the country’s first drone laws released in 2018, the security restrictions and absence of drone infrastructure have stagnated the industry. However, with the latest drone rules, this could change for the better. DJI drones have been officially allowed into the country and owners can now register their drones.
Speaking of drone infrastructure, the government has released the country’s first comprehensive UTM policy framework. Government-aided drone delivery operations are underway as well. Therefore, these events are collectively helping push the drone industry forward. Therefore, drone hub or not, the country’s drone industry is set to make exponential progress within the coming decade.


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US Recorded Music Revenues By Segment, 2011 vs 2012 [CHART]
The 21st century has not been kind to the US recording industry. Since peaking at $14.6 billion in 1999, the business has shrunk to less than half its size, barely besting $7 billion in 2012, according to a new eMarketer report, “Marketing Opportunities in Digital and Live Music: More Musicians Say, ‘I’m With the Brand.’”
To put the industry’s current valuation into perspective, Samsung and The Coca-Cola Co. combined spent more than $7 billion on marketing in 2012. Clearly, brands are in a position to invest, and some see plenty of upside in music properties. As a result, they are getting involved in ways that were unimaginable as recently as a few years ago, including launching new releases, running recording studios, nurturing underground talent, making music videos and creating original programming. Read the rest at eMarketer.
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Reducing health care costs: Aetna-CVS merger receives approval
The health care industry has seen some considerable shake ups recently, with several big-name mergers centering around cost reduction. The acquisition of one provider by another can produce many different results, particularly when it comes to human resources managers working to ensure that their employees have the adequate coverage and benefits needed.
Let's take a closer look at two recent mergers, one in which CVS acquired Aetna, as well as an agreement between Cigna and Express Scripts.
Aetna-CVS: Stakeholders approve
According to The Hill contributor Jessie Hellmann, the merger between health and dental plan provider Aetna and pharmacy service provider CVS Health saw some delays initially after the Department of Justice requested additional information on the proposed deal. The merger, which would involve a $69 billion agreement between the health care giant and pharmacy chain, is viewed as vertical industry movement. This comes in contrast to the blocked Aetna and Humana merger, which Justice Department officials argued would reduce sector competition.
As stakeholders on Aetna's side awaited necessary DOJ approval, they did hold an internal vote, where 97 percent agreed to approve the merger, The Hill contributor Nathaniel Weixel reported.
Aetna-CVS: Prioritizing customer care
This bringing together of health insurer and pharmacy provider could considerably impact the health care industry. However, it may take some time for these benefits to shine through. Stakeholders on both sides expect the merger to go through in the second half of 2018, thanks to favorable signals from federal regulators.
"When this merger is complete, the combined company will be well-positioned to reshape the consumer health care experience, putting people at the center of health care delivery to ensure they have access to high-quality, more affordable care where they are, when they need it," CVS Health President and CEO Larry Merlo noted in a recent statement.
Keeping up with cost reductions: Cigna and Express Scripts
As Weixel noted, the ability to drive down prices for customers has been a driving force behind the CVS Health-Aetna merger, and this has created a ripple effect within the health care industry. Now, other firms are looking to join forces in order to create better, more cost-efficient services for customers, including insurer Cigna, which recently announced plans to acquire pharmacy benefit management organization Express Scripts.
The New York Times reported in early March that the potential Cigna-Express Scripts merger would involve a $52 billion deal resulting in reduced costs and improvements revolving around the use of patient medical and pharmacy histories.
"The deal is the latest in a wave of consolidations that is sweeping through the health care industry," New York Times contributors Katie Thomas, Reed Abelson and Chad Bray wrote. "Companies are reacting to concerns over rising health care costs and the possibility of new rivals entering the fray."


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Global Tech Hubs – Shanghai and Pudong
Shanghai has changed significantly in the last 50 years, establishing itself as a global centre of business and finance. Each year that goes by, it brings increasing development to the city.
As China’s reform policies continue to take shape (starting in 1980), the economy has transformed in many ways. A large part of that change is thanks to the growth of the IT industry in China, and specifically in the Shanghai. Since 1980, a steady focus on establishing and expanding the IT industry has allowed China to become a global technology leader. Companies like Lenovo, Baidu, Alibaba, Tencent, Sina, and SoHu are contributing to a strong economy.
The Shanghai Tech Ecosystem
The IT industry in China has mainly focused on building online applications, manufacturing high tech products, designing software, and working towards technological innovation. A large contributor to innovation has been Shanghai’s tech park, ZhangJiang Hi-Tech Park. Established in 1992, the park generated 20 billion renminbi (RMB) in its first year. By 2010, the amount had grown to 55.4 billion RMB, an equivalent of nearly 8.5 billion USD.
The park is home to incubators which help form a support system for startups and also provide training to ensure skilled talent is available to grow young companies. It is also home to around 200 venture capital funds that provide the financial support young startups need. There are over 100 research and development institutions, more than 3,600 companies, and upwards of 100,000 workers in the tech park.
ZhangJiang is also an ideal setting for government and industry collaboration, with the Chinese government making use of the technology being developed in the park to improve tech access for Chinese citizens across the country. A recent example of this collaboration occurred in 2015 when the government partnered with Tencent to promote Internet+ as the next big strategy to connect other industries like manufacturing, finance, medical, government, and agriculture to the online world.
Two sectors which have taken off in IT have been those of online retailers, books in particular, and live streaming platforms. The popularity of purchasing books online has caused many physical store locations to close down. While this is not necessarily innovative, it does attest to the success of this vertical market in China. Live streaming platforms are another evident example of how the Internet has changed China’s youth. Video game streaming is the most popular activity for 13 to 25 year olds who are spending most of their time online either playing and streaming or watching people stream games.
Government Focus on Tech Development
Tech innovation has been a prominent component of the last 3 Chinese five year plans, spanning from 2006 to 2020. In 2013, IT made up 4.4% of China’s overall GDP and estimates have been made that over the next 10 years this number will grow to between 7% and 22%. However, growth heavily depends on companies being able to attract talented employees which is currently a problem for China’s tech industry.
Another missing component is the development of core technologies in various industries. Without having foundational technologies to build on, driving IT innovation to further the industries becomes very challenging. Gaining core technology capabilities and attracting more talent through incubators and enhancing education is the current goal for China’s government in order for the IT industry to continue its development.
Tech and China’s Economy
As the economic status of China shifts and more people join the middle class, increasing their spending power, the IT industry will follow suit and focus more on the domestic market instead of the international one. Some global companies like Amazon, Apple, and Tesla still play a role in China’s market, but many companies are homegrown, catering to the growing local population.
The Shanghai marketplace offers opportunities for both domestic and international companies and investors to succeed. Finding ways to cut down on time-consuming processes is essential to the success of a startup, as is finding funding. Angel and VC investors play a large role in helping startups get off the ground, but another popular way to get financing is through crowdfunding platforms like JD.com and Taobao. For companies that meet the requirements to get listed on China’s new “over the counter” (OTC) market, the National Equities Exchange and Quotations, seed funding may come more easily, but for those that do not meet the requirements, crowdfunding has proven to be a popular way to get initial finances.
An overwhelming issue that has arisen from the growth of the tech industry is that of copyright recognition, which is currently lacking significant enforcement in China. Many small companies that develop innovative solutions may be copied by larger companies that have more resources and can beat them to market. Competition among small companies for talented employees and seed investment is also huge, making it that much more difficult to succeed as a small startup.
Policies are being implemented by the government to address these issues and while the change is slowly taking place, it is evident that the IT industry is moving in the right direction nonetheless. The room to grow is only getting larger as more Chinese citizens join the middle class, education is improved, and cities like Shanghai attract more development, investment, and talent.
Alacrity China in Shanghai
Alacrity recognizes Shanghai’s vast potential as a market for SaaS, industrial IT solutions, and other innovative technologies. China is a massive economy and its IT sector is still in its burgeoning stages. That is why, in the last year, we have opened Alacrity China in Shanghai with WeGeek and Alacrity China’s director Henry Wu – a Shanghai local with experience in investments in both the Eastern and Western markets. Alacrity China expands the global footprint of Alacrity as a whole.
Alacrity China will help us understand and integrate into the local business culture and the opportunities that exist. In turn, Alacrity is able to bring mentorship and to promote entrepreneurship in Shanghai in a new way. We offer a form of collaboration to entrepreneurs and investors that are currently lacking in the Chinese tech sector, bringing new strategies to the market that we hope will contribute to its ongoing development.


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Upcoming artistes and music enthusiasts have been guided on how to make informed decisions when navigating the converging lines of business and arts in the music industry.
The Chief Marketing Officer, MTN Irancell, Larry Annetts, at the fourth edition of the MTN Foundation Business of the Art Series, which held virtually, identified good marketing strategy as key to sustaining a viable musical career.
White Lion Driven By Passion For Music
Restructuring the Nigerian music industry
“Your distribution will only be as good as your marketing plan,” he said.
The event exposes young, aspiring and experienced entertainers to the business side of the music industry.
Efe Omoregbe, founder and CEO of Now Muzik, stressed that focus should be primarily on the music; that is, the quality, brand positioning, type of market targeted and the structure behind the talent.
Founder and CEO of BHM Group, Ayeni Adekunle, shed light on the science of communication and relationship-building for young musicians, which he said is beyond music.
The Vice President, International Strategy and Operations, Warner Music Group, Temi Adeniji, stressed the need to enable platforms that will allow access to music through legal means.
While explaining the key factor in ideation and production of good music videos, the Country Manager, ViacomCBS Network Africa, Bada Akintunde-Johnson, said the most critical factor is the storytelling; noting that the story is the most powerful.
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