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The 2014 Paris Motor Show will be where Volkswagen group owned Czech automaker Skoda will reveal the 2015 Fabia hatchback. But before that, the interweb is likely to leak the new Fabia, what with the latest crop of spyshots depicting a “near naked” 2015 Fabia with bare minimum levels of camouflage. The car’s India launch plans remain unknown for now even as Skoda discontinued the hatchback here in 2013 on account of poor sales.
The 2015 Fabia will be based on the outgoing model’s PQ25 platform and from the looks of it, the new car doesn’t feature a dramatic departure in terms of design. Rather, the Fabia sticks to Skoda’s new family face up front with other minor design tweaks such as new headlamps and tail lamps, revised bumpers, turn indicators getting integrated into the wing mirrors and a new C-Pillar being the major changes. The new car appears to be larger than the outgoing version.
The larger exterior dimensions could translate into better interior room. Skoda has been emphasizing that the 2015 Fabia would be positioned as an entry level car aimed at youthful buyers. In line with this, the new car is expected to feature a slew of infotainment and connectivity options, designed to impress the milleannials. Given the incremental changes, the new car’s prices are likely to be similar to those of the outgoing model.
In terms of engine changes, the 2015 Fabia is expected to use the new 1.4 liter-3 cylinder TDI turbo diesel engine that the Volkswagen group has developed as a replacement to the 1.2 liter-3 cylinder TDI motor. The petrol range is expected to begin with the 1.2 liter TSI turbo petrol engine. More powerful 1.4 liter TSI petrol and 1.6 liter TDI diesel engines will be available on the higher-spec 2015 Fabia sold in Europe. 5 speed manual and 7 speed DSG dual clutch automatic gearboxes could be a part of the mix in terms of transmission options for the 2015 Fabia.
Spyshots courtesy CarScoops


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E-commerce has completely changed the face of business in today’s world, especially with the entry of Amazon, the world’s largest e-tailer (and a nightmare to retailers).
The founder and chief executive officer of Amazon, Jeff Bezos, started the company by first selling books. With a goal to turn Amazon into an ‘everything’ store, the company later expanded its product offering to include food and clothing. Now, it basically sells anything you can think of! The speed at which Amazon grew made online business a major trend in the consumer world.
Observing this feat of success led traditional organizations to move into the click and mortar business model. This translates into having both an online store presence along with a physical store.
But how do we know for sure that this is the way to go? Well, the companies that did not embrace this tactic had observed a misfortune. Let’s see a few examples of retailers that could not keep up with changing consumer behavior and went bankrupt.
Despite the winds of change, this popular jeans company — known for its five-pocket jeans in the 90s and early 2000s — made the wrong choice of investing vast amounts on its physical retail stores. From 2008 to 2015, the company invested $90 million in capital expenditure mostly on its stores. The investments resulted to be “ill timed, excessive and unfruitful”, an article by CBS News reported.
Besides that, the company’s substandard cyber security, as well as store security, caused it to lose $1.2 million over a span of three years, Reuters reported. Based on several reports, the company claimed that internet “spoofers” i.e. frauds with fake email IDs sent them invoices which the company did not detect and had gone on to pay them at the time.
With more consumers shifting towards online shopping, the company could not make a profit for several years. In fact, according to an article in International Business Times, their revenue dropped by a disturbing 53% during the period of 2013 to 2019. In addition to that, costly leases became troublesome to pay with the lack of incoming cash flow. Altogether, the company did not see any shrine of light coming their way to save them.
So how could have Diesel done things differently?
Firstly, the whole scenario would be different had they adapted to shifting consumer behavior and embraced the click and mortar model. The $90 million investment could prove to be fruitful if the company had foreseen the benefits of having an online presence and invested the money on building that prospect rather than on its physical stores.
With that in mind, having an online presence means one needs information security officers to manage and oversee customers’ and the company’s privacy protection. They would be able to tell apart a real invoice from a fake one, therefore saving the company the headache of being spammed by the “spoofers”.
With less physical stores and more sales coming from online stores, Diesel would be able to pay for costly lease and make their business more sustainable.
Finding it hard to keep up with the competition coming from online stores, Nine West, a footwear and apparel retailer from the US, decided to close down its physical operations in Canada and the US. As the traffic to physical stores started declining and that for online shopping rose, retail shops slowly started going out of business. Due to poor management of stores in Asia, the company closed down its shops in China, Taiwan, and Hong Kong.
According to Biznow, as much as 80% of its sales came from wholesale department stores, who were also facing the same risk. This, coupled with their failure to keep up with the latest shopping trends resulted in an excess of inventory and reduced consumer demand. Eventually, one loss led to another and they ended up in a vigorous debt of more than $1 billion, CNN Business reported.
Apart from all the financial issues, reviews from Glassdoor revealed that upper management was having trouble keeping employees happy. The negative reviews on upper management date back to several years, indicating that no changes were implemented.
Giving store managers proper training and putting in the effort to create a better work culture early on would have been a good start. For the sake of the company’s success, making employees happy should be a priority. What any business would want is for their employees to go home with a smile on their faces.
Also, rather than targeting multiple consumer groups, going forward with a niche target market might prove to be more favorable for the company. In addition to that, investing in building an online presence and on research and development (R&D) would have increased their odds of success in the market.
With a click and mortar approach in business, the losses in physical retail shops could have been canceled out, which in turn could reduce losses for the company.
Keeping up with fast fashion was a great challenge for Aeropostale. Fast fashion brands such as H&M, ZARA and Forever 21 managed to capture the young adult and teenage customer base with their ability to adapt to fast-changing trends and moderate pricing strategies.
While teenagers gravitated towards a rugged vintage style, Aeropostale began to lose its reputation as a stylish brand. Despite appointing Youtube and social media star, Bethany Mota, the company could not compete with the online presence of the retailers mentioned above, a similar issue faced by Nine West.
According to CNN Business, Aeropostale emerged with a total debt of $390 million and was losing money for 13 consecutive quarters. In fact, the company got delisted from the New York Stock Exchange in April 2016.
Similar to Nine West, Aeropostale employees were reportedly not treated very well. One employee wrote in an email saying: “We feel undervalued and underappreciated.”
Was this doom inevitable for Aeropostale? Not if they had a few effective strategies lined up.
First and foremost, in a growing e-commerce world, having an online store as well as a physical one is one of the key success factors for traditional businesses like Aeropostale. A click and mortar approach would give the company better insights about changing consumer styles, preferences, and interests, and give them a wider reach. This is where R&D could come in to help Aeropostale develop creative ideas for their clothing lines according to seasons.
Both with a niche target market and a sense of preparedness to adapt to changing seasonal trends, the company would have had a chance at saving its business.
Bringing It All Together
As we can see from the above discussion of these bankruptcies, they have all made some common mistakes. The first mistake being, not embracing the click and mortar way in a booming e-commerce business landscape. When companies successfully create their online footprint, it gives them insights into the ever dynamic customer wants and needs.
This gives a solution to the second mistake; not knowing what customers want. Keeping up with seasonal trends and consumer tastes are vital for the success of a fashion retailer. To avoid losing money on wasted inventory and creating debt, investing in the right channels (and R&D) is crucial.
In a click and mortar business, consumers get access to both the comfort and convenience of shopping from home when they do not want to go out, as well as the chance to see the product in person, especially if it’s a premium one.
In addition to that, it’s important to ensure employees feel loved, welcomed and appreciated as they are the company’s assets.
Lastly, it is important to remember that online businesses also have their fair share of risks. To protect consumers and business data, having a full proof security system is a top priority. Managers need to be aware that their customer and employee information must be kept secured.
Startup companies, take note, these are some of the things to keep in mind in order to make the business successful. Otherwise, a new business may end up like the retailers that went bankrupt.
Lava is a cloud solutions provider and an authorised Salesforce Partner in Malaysia. We have more than a decade of experience in CRM solutions which includes sales, customer service, marketing, implementation, change management, and consultation. We pride ourselves in not just being a CRM partner but in also understanding the needs of our customers and taking their business to the next level.

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The Supreme Court intervened Monday in a lawsuit by an Internet service provider accusing AT&T of anti-competitive practices.
AT&T had asked the justices to step into the dispute over wholesale prices AT&T charges for high-speed service to Internet service providers who then compete with AT&T for retail Internet customers.
AT&T says it is under no obligation to deal with the Internet service providers and that the lawsuit should be thrown out for failing to state a valid legal claim.
The plaintiff in the lawsuit, LinkLine Communications Inc., buys high-speed service from AT&T, combines it with other services and then sells Internet-access service that compete against AT&T.
The 9th U.S. Circuit Court of Appeals in San Francisco ruled against AT&T, saying the telecom company was setting its wholesale prices so high that the Internet service provider could not compete with the low prices AT&T charged in the retail market. The appeals court said that federal courts have recognized such price squeeze allegations for six decades.
The Bush administration had urged the Supreme Court to take the case as AT&T requested.
The case is Pacific Bell Telephone Co. d/b/a AT&T California v. LinkLine Communications Inc., 07-512.


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The 2019 edition of the Portugal fashion is going to happen in Oporto between the 14th and the 17th March. After New York, London, Milan and Paris, Oporto is the next stop for this event that is going to be held in Alfândega building over the next 4 days.
There will be more than 40 fashion shows featuring some of the main brands and national designers. They will be presenting their autumn-winter collection.
For more info, please visit the Portugal Fashion website.
If you are into fashion and want to know the local trends, then this is an opportunity you cannot miss.
In order to accommodate this year’s Portugal fashion shows, there will be a new infrastructure temporarily built in “Parque da Cidade”. This new infrastructure has 10000 square meters, 80% are covered, and will be called fashion city. There will be 3 “passerelles”, each one with 1000 square meters and the ability to accommodate 1000 spectators. So all fashion shows presented in Oporto between the 22nd and 24th March will take place in this infrastructure, in lines similar to what happens in other major fashion cities like London, New York or Paris.
You happen to be around during these dates and you are into fashion, then this is an opportunity you cannot miss. Watching fashion shows in a special space conceived all for fashion lovers!!
The Time International published its City Life Index 2018 and Oporto managed to get an impressive second place!! Oporto is considered as the best place in the world to make friends, fall in love and keep family links. This is a sign that Oporto is changing for the better and that local residents are quite proud of the significant development the city has witnessed over the past years.
With these high satisfaction levels, Oporto ranked ahead of important cities, such as New York, London or Madrid. Only Chicago did better than Oporto and reached the first place in the index.
Overall, this is a very significant result for Oporto and is clearly showing that all the efforts and investments being made are leading to a better living experience!!
Therefore, if you still do not know Oporto, then ...


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Ford Plans Fiery Makeover of Lincoln Brand
Sales of Ford Motor Company’s luxury Lincoln brand have declined 63 percent since sales peaked in 1990. The Lincoln Town Car, the brand’s flagship sedan and a staple of airport and business transportation for many years, has been crowded out by competition from Lexus, Audi, Mercedes-Benz, BMW and other luxury automakers. Tired of losing sales and market share, Lincoln’s brand managers are about to unveil a new marketing campaign that involves a most unusual angle – setting a Lincoln Town Car on fire. The new campaign is slated to begin in late December with a television commercial that opens with a Town Car being engulfed in flames and the new MKZ sedan emerging from the flames.
You don’t have to be a film director to see the symbolism at work here. Lincoln’s marketing department is looking to distance the sleek new MKZ and MKX models from the past, and they are doing so in unmistakable fashion. An earlier version of the ad involving a voiceover by Leonardo DiCaprio with him at the wheel of a MKZ was greeted enthusiastically by Ford staffers but flatly rejected by Lincoln chief Jim Farley.
“It’s not going to break through,” Farley said. “Find me something that’s going to break through. The tricky part is getting noticed. You don’t have much time because you haven’t earned the right to be in people’s minds.”
Sales demographics indicated that over one in three Lincoln owners is 65 years of age or older. Farley and his staff are clearly going after younger buyers in the highly desirable 40- to 60-year-old age group. Lincoln also plans to air their first Super Bowl ad next year, as well as other ads including an actor posing as Abraham Lincoln, footage of Dean Martin and Clark Gable leaning against the fenders of an MKZ and other commercials to increase brand awareness and attract new buyers.
From our perspective, this is great news. While we love the Lincoln Town Cars in our fleet of luxury vehicles, particularly for our San Francisco airport transportation and business clients, we are excited to see what Lincoln’s designers and brand managers have up their sleeves for the new models. Like all of our other luxury vehicles, our Lincolns are immaculately clean, roomy, comfortable and very affordable. So, the next time you need clean, comfortable San Francisco airport transportation, business transportation or any of our Bay Area limousine rentals, just give us a call at NLS Limo at 800-339-8936.


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So far it has only received orders from one specific club store chain, but Freska Produce International LLC in Oxnard, CA, believes it has a winner in its six-pound mango carton.
Gary Clevenger, who is managing member and co-founder of the company, said the company developed the carton for one distribution center of Costco “but now we are in every depot.”
He said the six-pound carton features six large mangos and typically retails at a $5.99 to $6.99 price point. The smaller cartons are display-ready and are packed in a master carton.
As with a six-pack clamshell that the company offers, Clevenger said the packs encourage multiple buys. “We are always looking for new packaging ideas,” he said. “There are a lot of different ideas out there and we are all looking for something that works.”
Clevenger said most mango consumers and most retailers like big displays where the customers can pick their own mangos. The big display certainly has its advantages but the different pack options are all designed to give consumers more choices and move more fruit.
The Freska executive said the Cinco de Mayo holiday and the celebrations surrounding it did create an extra pull for mangos, but he said the retail targets for increased mango sales are Anglos not Hispanics.
“Mangos are already a staple in the Hispanic community. They are very consistent buyers. Our target market is Anglos and the best way to increase sales is through education,” Clevenger said.
Because of that, he said some of the best opportunities to increase mango sales and shoot for retail promotions are traditional U.S. holidays such as Mother’s Day, Memorial Day weekend, Father’s Day and the Fourth of July. In fact, he said the pull for mangos during these spring and summer holidays is greater than during the fall holidays of Thanksgiving and Christmas, which are typically a great sales time for more traditional fruits and vegetables.
Clevenger said Freska’s strategy remains the same, which is to be a major 12-month supplier of mangos with the ability to offer year-round programs to its customers.


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After a two and a half hour meeting and listening to more than 27 speakers on the issue, members of the Mobile City Council’s Public Safety Committee did not make a decision on whether or not to recommend moving forward with changes to the city’s animal control law to ban future animal sales at the flea market.
Councilwoman Bess Rich, who chairs the committee, told those in attendance that at least one more meeting would be held before the body made a recommendation on the amendment proposed by Mayor Sandy Stimpson’s administration.
“We will call another meeting and continue to move on this,” she said. “We’re all in agreement that this needs updating.”
Many of those who spoke, on both sides, told councilors that the ordinance needed to be amended. Those who spoke in opposition to it, mostly dog breeders, asked that the provision banning sales at the flea market be reconsidered. Some said banning the sales would infringe upon their right to free enterprise, while others said they enjoyed working with the animals at the market.
Those in favor of the amendment complained about the health of dogs and other animals by vendors at the market, as a reason to ban the sales.
Ruth Stewart, a breeder and dog rescuer, told councilors she’s in favor of banning the sale of dogs and other animals at the flea market because “responsible breeders” don’t puppies from a flea market, but from their homes.
“Responsible breeders show proof of healthy puppies,” she said. “Breeders take dogs back. Flea market vendors seldom do that.”
Dana Baker, a flea market vendor and dog breeder, said she stopped selling puppies from her home on Schillinger Road South when her mother was robbed at gunpoint.
“I don’t sell out of my home for safety reasons,” she said.
Baker said she takes care of her puppies. They get fresh food, water and blankets twice a day. She said the puppies she sells get exercised and have regular shots.
Rachel Stewart, an Animal Rescue Foundation volunteer and local vet tech, told councilors that many of the vendors are from out of town and the puppies they bring to Mobile help contribute to the overpopulation of the animals.
“I visited the flea market on Sunday and saw a breeder selling intact mutts …,” she said. “We have more than enough intact mutts in Mobile.”
She said breeders only care about money and not the puppies.
Johnny Stringer, a flea market vendor and breeder, agreed that something has to be done, but he was against prohibiting animal sales at the flea market.
“The market does a very good job to make sure we do the right thing,” he said.
Stringer invited councilors to come to the market.
Rich is joined on the committee by Councilmen Levon Manzie and John Williams. They will be tasked with making a recommendation to council on the amended ordinance before a vote of the larger council body is taken.
While the amended ordinance bans the sale of animals and birds at the flea market, or “public street, roadway, right-of-way, sidewalk, park or swap meet,” it does not ban sales “at the fair, animal exhibitions and sales, or 4-H activities.”
Besides the banning of animal sales, speakers brought up other issues with the amendment. For instance, Mobile Kennel Club representative Brian Carberry asked the council to reconsider a provision mandating dogs have a rabies shot once per year. He said three-year shots are available. He added that exemptions to this mandate should be allowed for dogs that are ill and can’t have a rabies vaccination.
Also at issue for Carberry was a provision to get a pet licensed each year and a requirement for a license tag to be affixed to the pet’s collar. He said he wouldn’t mind paying the money for a five or 10-year license for a dog. As for attaching the license to the collar, he said his dogs have separate leashes and collars for various activities. He asked councilors to consider allowing owners to carry a tag, or license on their person to show to an animal control officer at the appropriate time.
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Spending a night downtown is always fun.
This Friday it will be even more so when Fremont Community Foundation co-sponsors its sixth annual Flashback on Main from 5-11 p.m. in the 500 and 600 block of Main Street in downtown Cañon City.
"(We'll have) hotrods, hula hoops and rock and roll," said foundation board member Dan Brown. "Flash Cadillac will be on stage at 6:30 then Highside Command comes out at 9 o'clock."
Co-sponsored by Cañon City Merchants, the event will offer a beer tent and entertainment throughout the evening. The event also includes a hula hoop contest, a giant pig, a giant duck and business owner Ty Seufer will bring bungee jumping to the downtown area.
"There will be at least two outside food vendors and downtown merchants will be selling their food, (including)Pizza Madness and Kitchen Pantry," Brown said.
Hotrods can start showing up at 4:30 p.m., and members of one of the hotrod clubs will be parking "your classic or cool car" along the street on a first come, first served basis, Brown said.
"It's just a little impromptu first come, first served car show," Brown said. "It's free. There's no charge to park your car."
The purpose of the event is to bring residents to the downtown area, and businesses are encouraged to stay open because a large crowd is expected to participate, a spokesperson said in an earlier interview.
To purchase beer, everyone has to be at least 21 years old, and the alcohol must stay within the designated boundaries. Organizers also encourage participants to bring lawn chairs or blankets to the outdoor event.
For more information, call Brown at 371-1202.


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Mario may have to start moonlighting as an actual plumber with news that Nintendo has posted its first annual loss in decades.
Nintendo lost 43.2 billion yen ($533 million) in the fiscal year ended March 31, its first loss in over 30 years as revenue fell 36 percent on weaker demand and price cuts for its Wii and portable 3DS consoles.
Annual sales were down to 647.65 billion yen from over 1 trillion yen ($12.5 billion) the previous year.
Earnings at the company, which makes around 80 percent of its revenue overseas, were also hit by the strong yen, making its foreign currency holdings worth less when brought back to Japan.
The 3DS portable console, which allows 3D game-play without special glasses, was launched in February 2011 in Japan and the following month in Europe and the US. However, sales failed to live up to expectations, and the company slashed its price by around 40 percent worldwide last summer, meaning it was losing money on each console sold.
As well as battling with Japanese rival Sony, which has also faced disappointing sales for its PSP Vita portable console and announced record losses this month, Nintendo is competing with the shift in gaming to smartphones and tablets.


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As quarantine restrictions begin to ease in some parts of the country, public transportation services shall resume in the areas under General Community Quarantine (GCQ). Included in the guidelines issued by the Land Transportation Franchising Regulatory Board (LTFRB) help curb the further spread of COVID-19 is for taxis and TNVS to adopt cashless payments.
The Department of Transportation (DOTr) and the LTFRB have tapped digital financial services leader PayMaya to provide drivers and operators the ability to accept cashless payments. PayMaya is offering transport operators and their drivers QR scan-to-pay capabilities via its mobile app, which will also give them access to a digital financial account that they can use for everyday transactions such as bills payments, airtime load reloading, and sending money to friends and family.
“Cashless payments, particularly in taxis and TNVS vehicles, is part of our new norm, and we are glad that our drivers and operators have easy and convenient options such as PayMaya so that they can quickly implement this solution for the safety and benefit of their riders,” said LTFRB Chairman Martin Delgra III.
Soon, commuters will be able to pay their fares with their credit, debit, or prepaid cards via tap-to-pay technology through the other digital payment solutions of PayMaya. Operators may also utilize PayMaya’s PayOut disbursement solution to easily distribute salaries and other incentives directly to their drivers’ accounts.
In the past, PayMaya has also partnered with bus and taxi companies in Metro Manila and in other areas such as Baguio and Cebu. This enabled transportation facilities such as the Araneta Bus Port to accept cashless payments through credit and debit cards as well as via PayMaya QR.
Alternative livelihood opportunities for faster recovery
On top of helping drivers accept cashless payments, PayMaya will also soon be providing them with additional livelihood options such as offering prepaid load, bills payment, and even remittances if they also operate a sari-sari store or any physical store through PayMaya’s upcoming products and services.
“In the ‘new normal’, we must help everyone adapt to new and safer ways to lead our lives, and that includes the transportation industry. PayMaya is proud to support the government and transport operators not just in helping them accept contactless payments, but to chart the path towards their full recovery as well,” said PayMaya Founder and CEO Orlando B. Vea.
As the entire country conforms to the changes caused by the COVID-19 crisis across various sectors aside from transportation, digital and contactless payments will become not just a must but a strategic advantage for businesses in order to quickly recover.
To know more about PayMaya’s products and services for businesses and merchants, visit http://enterprise.paymaya.com.


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Reminder: Plastic Bags Will No Longer Be Available in Maine Stores Starting July 1
This is one of those things that you either weren't aware of or completely forgot about thanks to the COVID pandemic. Starting July 1, you either need to bring your own reusable bags when you go shopping in Maine or you'll have to pay a bag fee to purchase bags at the store if they offer them.
When did this law get passed?
The Maine State Legislature passed a law that was signed by Governor Mills in June of 2019 creating a statewide ban on single-use plastic carry-out bags. That law was supposed to go into effect on January 1, 2021. However, just a few weeks before it was to take effect, the Maine Department of Environmental Protection delayed the enforcement of the law until July 1, because that was the last thing we needed to worry about right in the middle of the COVID pandemic.
Well, the timing seemed to be spot on. With over half of Mainers fully vaccinated, businesses opening up and the world slowly getting back to normal, Maine's new bag law is ready to go into effect.
How Does Maine's Bag Law Effect How Mainers Shop?
The biggest thing to keep in mind when July 1 arrives is that plastic bags will be gone. Unlike other cities like Portland who had a ban on single-use plastic bags prior to all of Maine, stores could still offer them for a fee. In Portland's case, it was 5 cents a bag.
With this new law, plastic bags will not be offered by Maine businesses that use bags for customer's items. So you have two choices. Purchase your own re-useable bag or purchase recyclable paper bags each time you do things like grocery shop. The cost of the paper bags, by law, must be at least 5 cents per bag with the business doing whatever they wish with the money collected.
What about other types of plastic bags, like garbage bags?
Any type of plastic bag sold in a package with several bags in it for garbage, pet waste or city recycling bags is exempt from the law. So no need to worry about throwing out your garbage in a paper bag. How inconvenient would that be?
From what we've seen on social media, signs have been put up in some Walmart locations in Maine alerting customers that Maine Walmarts will become completely bagless on July 1. You will need to bring your own bags to shop in-store and for pickup.
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May 25, 2021
Travel has not been part of most people’s agenda for a long time. Ever since the pandemic broke out back in March 2020, non-essential travel has been banned in most parts of the world. And while country-specific bans continue to limit travel and tourism, vaccination rollout programs are going strong.
Holiday bookings have grown in the recent months as economies reopen and welcome tourists for travel. But will the new travel world be different to pre-pandemic holidaymaking?
Travelling will not be as easy
COVID-19-related travel conditions could complicate holidays for the foreseeable future. One of the measures that many countries will implement is the ‘Safe Pass’ or the ‘Green Pass’. Travellers may be required to get vaccinated to travel.
For example, the European Union has recently agreed to reopen its borders to fully vaccinated international travellers and those travelling from Covid safe countries. Several countries in the E.U. will be accepting travellers who have received E.U. approved vaccines, such as those from Pfizer-BioNTech, Moderna and Johnson & Johnson.
While the E.U. will be rolling out general travel restrictions, individual member states will be able to adjust their requirements based on their own epidemiological criteria.
Many people will shy away from international travel due to the numerous restrictions imposed by various governments. This means that domestic holidays, also known as ‘staycations’, will gain popularity. A similar trend happened in mid-2020 when some countries reopened – people did not want to skip their annual summer vacation and opted to travel somewhere local.
“The wanderlust to explore what’s close by, you know, has in particular for the younger generations potentially durable benefits,”
said Jeff Hurst, president of online vacation home rental site Vrbo in Austin, Texas, and marketing co-lead at parent company Expedia Group. “You’re not going to be in the air as much.”
“It is a different type of economically sustainable travel, and that you can invest more in local communities and things you might feel a different type of connectiveness to.”
Skipping air travel altogether may seem more desirable to hypochondriacs or germophobes rather than potentially exposing themselves to the virus at the airport. In addition to this, domestic travel may be significantly cheaper but just as fun and exciting.
Some people who have followed strict stay-at-home orders may have developed something known as quarantine fatigue. Restrictive lifestyles for a prolonged period of time may develop stress, irritability and anxiety in people. In 2021, more people than ever are looking into taking trips or holidays to venture out of their day-to-day life.
Longer stay holidays will be more likely in 2021. Since most people have been working remotely, it’s likely that this newfound flexibility will inspire them to stay at their destinations for longer than usual.
The world’s desire and appetite for travel has never been this strong. Vaccination rollouts have given people hope for a normal life, both work and travel-wise. But before choosing your next destination, it’s a good idea to interpret the epidemiological situation and travel restrictions. And while the travel industry may never be the same again, there finally seems to be light at the end of the pandemic tunnel.


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Huobi Global’s Token Sale Platform To List Reserve’s Utility Tokenbr>
Launched in March of this year, Huobi Prime offer users a number of key advantages, including ensuring that all currencies purchased by users are immediately deposited into their accounts and tradable against the Huobi Token (HT), Huobi Group’s native token, with minimal delays. In its first two launches, Huobi Prime sold out of 2 billion NEW, the native token of Project Newton, and 1.5 billion TOP, the native token of Top Network. In both cases, the price of the coins rose 500% or more in the hours following Prime trading.
Reserve aims to bring real-world payment solutions and inflation protection to the economically troubled. The startup’s utility token, Reserve Rights (RSR), is designed to maintain the stability of Reserve’s USD-pegged stablecoin Reserve token (RSV). The overall project’s mission is to build a universal store of value – particularly in regions with unreliable banking infrastructure and/or where inflation is a major issue.
Huobi said in its announcement that Reserve Protocol’s RSR utility token will be listed on Huobi Prime towards the end of this month.
“Reserve truly has it all; an outstanding founding team that includes former members of Google, Tesla, OpenAI, IBM, MIRI, Impossible Foods, and The Jane Goodall Institute; backers like Peter Thiel, co-founder of PayPal, Sam Altman of YCombinator, Ran Neuner, and Mike Arrington of TechCrunch; and a truly innovative business model and mission,” said Livio Weng, CEO of Huobi Global.
According to Reserve, the concept of the company is to protect against inflation, act as a system to make everyday payments, and serve as a cost-effective way to send money across borders.
“Over 300 million people live in countries without stable currencies, resulting in dramatic losses of wealth and overall instability in these countries,” said Nevin Freeman, Co-Founder and CEO of Reserve. “The world needs a stable, global, digital currency that gives people and businesses autonomy.”


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The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo on Thursday inaugurated a committee to look into the issue of rejection of Nigeria agro produce in the international market.
The committee which drawn its members from the ministry and some parastatals of the ministry and Ministry of Agriculture is headed by the Director, Commodities and Export Department, Mr Suleiman Audu, is charged with the responsibility of identify the major causes of the rejection of the agro produce and proffer appropriate recommendations.
Inaugurating the committee, the Minister in a statement by his Special Assistant on Media, Ifedayo Sayo, said the federal government placed a lot of emphasis on the promotion of non oil commodity exports, which has led to farmers and product aggregators partnering to explore the export market for their products.
He noted that in recent times, Nigeria agro products have been suffering from export reject by most countries of Asia, Europe and America.
This, he explained has led to huge financial losses with its attendant negative impact on the supply value chain and job creation.
He stressed that the international market is competitive and welcomes products of high quality with relevant certifications and quality packaging that is environmentally friendly.
Adebayo said the problem of quality, standard, certification and appropriate packaging for made-in-Nigeria products for export has been a recurring issue hence the need to set up the technical committee to address the issue and proffer appropriate recommendations.
The terms of reference for the committee are:
- Identify the major causes for the export reject of Nigerian agro commodities ;
*Determine the roles played by exporters or institutional infractions that tend to promote export reject of Nigerian agro commodities
- Suggest measures necessary to strengthen the capacity of exporters to improve the quality, standard, certification, and packaging for made-in-Nigeria products for export
- Develop the policy framework for Global Gap certification and quality packaging that is environmentally friendly for global trade;
- Suggest ways of getting government at all levels to support farmers to key into Global Gap certification for increased productivity and export ;
- Suggest appropriate model/partnership for development of standard storage facilities for products before arriving at their final destinations;
- Suggest means of strengthening assessment of export products by the appropriate and designated competent authorities ; and
- Suggest other measures the committee deems fit to curb infractions and improve acceptability of Nigerian agro exports globally.
The Minister told the committee that the nation was looking forward to the outcome of the assignment given to them as an antidote to the rejection being suffered by Nigerian exporters at the international market.
He gave the committee six weeks within which to submit its report


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AEM, a global leader in test innovation, celebrated the grand opening of its new manufacturing plant in Penang, Malaysia. The new plant comprises a 365,000-sqft area for assembly, quality assurance (QA), warehouse, and R&D lab. It was designed to develop advanced testing and handling equipment.
This expansion comes on the heels of AEM’s highest recorded nine-month revenue in history for 9M2022 at SGD$ 747 million. Also, the new plant will allow AEM to tap into the region’s growth opportunities and talents. It also brings its operations closer to existing and new customers.
“We’re pleased to announce the opening of our new plant in Penang. It allows us to scale up testing and handling capabilities to meet the growing demand for new semiconductor devices. We ensure our customers’ success by continuing to grow our capabilities to deploy quickly at scale. Together with our center of excellence in Singapore, I believe we will solidify our position as a hub in the region,” said Chandran Nair, CEO of AEM.
Solid Support from Malaysian Government
The grand opening of the plant was officiated by the Chief Minister of Penang, Right Honorable Mr. Chow Kon Yeow; the Deputy CEO Investment Development of MIDA, Ms. Lim Bee Vian; AEM’s Chief Executive Officer (CEO), Chandran Nair; and AEM’s Non-Executive Chairman, Loke Wai San. Guests included Penang State Exco Trade, Industry & Entrepreneur Development Yang Berhormat Dato Haji Abdul Halim Bin Haji Hussain; the CEO of InvestPenang, Dato’ Loo Lee Lian; the Special Investment Advisor to the Chief Minister of Penang, Dato’ Seri Lee Kah Choon; the Deputy High Commissioner to Malaysia, Mr. Shivakumar Nair, together with other dignitaries. Additionally, almost 400 employees of AEM joined the celebration with the company’s leadership team.
Penang as a Global Semiconductor Hub
“AEM’s new manufacturing plant in Penang lends credence to our conduciveness as a global semiconductor hub. With half a century of industrialization in its DNA, Penang has navigated numerous up and down cycles and has emerged stronger from each. Experiencing an upward trend in its exports, Penang contributed an average 29 percent of Malaysia’s exports and 58 percent of the nation’s trade surplus over the past five years,” said Right Honorable Mr. Chow Kon Yeow, Chief Minister of Penang
“In terms of investments, Penang is among the top contributors to the country, garnering RM9.2 billion in approved manufacturing investments from January to September 2022. Particularly, investments from the machinery and equipment industry amounted to a total of RM7.3 billion from 2020 to September 2022. The amount represented 57 percent of the country’s total,” he continued, while congratulating AEM for bringing the expansion plan to fruition.
“Riding on the prolific growth of advanced technologies, I am confident that Penang will be benefitting from the semiconductor industry’s long-term outlook. The state, via InvestPenang, is looking forward to working with AEM in accelerating the region’s vibrant electrical and electronics (E&E) ecosystem development, anchoring our status as the Silicon Valley of the East,” added the Chief Minister.
Ms. Lim Bee Vian, Deputy CEO, Investment Development of MIDA said, “AEM’s footprint in Malaysia will be a strategic advantage to Malaysia’s E&E industry, as the company can offer customized testing solutions for the electronics and semiconductor industries.”
“I am certain that this project demonstrates not only AEM’s confidence in Malaysia’s long-term investment propositions, but also the thriving state of the manufacturing industry and its ecosystem in Malaysia. The project is a parallel testament of the global investors’ confidence in Malaysia as the preferred investment destination and the local companies’ capability and readiness to support high-profile business ventures and activities,” she added.
Mainly, Malaysia is an important market as it is strategically positioned in the heart of Southeast Asia. In particular, the E&E industry contributes significantly to Malaysia’s GDP growth, export earnings, investment, and employment. Also, it plays a vital role in the country’s industrial development. From January to September 2022, Malaysia attracted a total of RM22.6 billion in approved investments for the E&E industry.
Specifically, Penang is a hub in the semiconductor global supply chain. It accounts for 80 percent of the nation’s contribution to global backend semiconductor output. Also, Penang contributes over 5 percent of the world’s semiconductor sales over the last few years.


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Since we are on Microsoft news today, Microsoft has announced that they will end support for Internet Explorer for Mac on December 31st, 2005, and additionally, as of January 31st, 2006, will no longer make Internet Explorer for the Mac available for download at Mactopia.
A thorn in the side of web designers and programmers for years, Microsoft’s announcement comes as a virtual gift to the web community and should have web professionals jumping for joy. Most all would agree that Internet Explorer for Mac was easily the buggiest and worst web browser ever devised for any platform. Microsoft recommends that Mac users migrate to more recent web browsing technologies such as Apple’s Safari.
Ding Dong! The wicked browser is dead! So long, Mac IE. We won’t miss you one bit. 😉


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ATLANTA — The cpa Network, which makes Internet video services such as Netflix, Amazon and Hulu, announced it has raised a record $1 billion in venture capital backing from a number of companies, including eBay, Google, Intel, Microsoft, Pandora, Yahoo and Twitter.
The company is currently in the midst of an expansion into the United States.
The investment is the latest step in a series of investments that have been made by cpa Networks in recent years.
“I am thrilled to be part of a long-term commitment from a well-known company that is creating new business opportunities and is taking on new challenges in the fast-growing video space,” CEO Paul J. Staley said in a statement.
“We will be putting the full force of our resources into growing the company in the coming years.”
The cpas Network was founded in 2003 and has been expanding ever since.
The firm is one of the most widely used video providers in the world, accounting for about 15 percent of U.S. video subscriptions.
Since 2010, the company has grown into a multi-billion dollar company with over 5 million paying customers.
Its services include video streaming, e-commerce, ecommerce video, and mobile video.
“Our success depends on our ability to be innovative, flexible and adaptable,” Staley added.
“The cpa Internet team has built a product that enables us to leverage new technologies to help our users and businesses.
That’s why we’re proud to join forces with some of the world’s leading technology companies to create a global, global, and new cpa ecosystem.”
The company’s new investors include Google Ventures, eBay, Intel Capital, Microsoft Ventures, PayPal, Zappos and Yahoo.
The news of the new round came a day after the company announced its quarterly earnings and earnings per share.
The stock closed at $13.35 on Wednesday.
For more on cpa, watch: CPA Network CEO says it will be ‘big, bold’ to expand in the U.K. The cPa Network said its revenue for the year is expected to increase from $1.7 billion to $2.1 billion.
The revenue will come primarily from its online video offerings, as well as from its television channels, online video and its digital video platforms.
The business has a number in the hundreds of millions of dollars, Staley noted, but it plans to add a number to that number over the next three to five years.
The growth is the result of a number and variety of strategic acquisitions.
For example, cpa is also expanding into digital video services through its new venture, the cpa Video Marketplace, which will bring together several video-streaming companies and allow cpa to deliver video content to consumers over the Internet.
“Today’s announcement is a great testament to the strength of our existing business model,” Stacey said in the statement.
The $1bn investment is expected for the next 12 months.
For an in-depth look at the cpas Internet and digital video businesses, check out the company’s website:


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On December 26, the brand Moldir featured its premium leather bags and leather accessories; designer Ko Tae Yong, singer Kim Jaejoong and others hosted the ‘Lotte Duty Free Year-end Party’ in the evening at Club Answer in Cheongdam-dong.
Participating as Moldir designer Kim Jaejoong graced the event with his presence.
The event featured designer Ko Tae Yong’s brand ‘beyond closet’’s 2014 Spring/Fall Collection and JYJ Kim Jaejoong who was involved in the design for the premium leather bag brand ‘Moldir’ that provided to the attendees the new attraction of its unfolding with the fashion show.
Kim Jaejoong is already receiving attention at home and abroad for being involved in the design of Moldir and introducing its high-class products.
[omit parts that didn’t mention Jaejoong]


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Some analysts expect Wal-Mart Stores Inc. may announce plans Wednesday at its analysts’ meeting that it will accelerate U.S. store growth next year. Wall Street is also looking to hear details of more price-cutting strategies as it heads into the holiday season.
Any move to increase store growth would come as the world’s largest retailer has come a long way in improving store performance by paring down inventory, offering spruced-up merchandise and remodeling stores.
Wal-Mart’s share price soared 13 percent in 2008. However, the stock has slipped almost 6 percent so far this year, as investors focus on beaten-down shares of companies that sell more discretionary items like clothing and home furnishings.
Shares slipped 19 cents to $51.70 Tuesday, below the middle of its 52-week range of $46.25 and $59.23.
Wal-Mart’s stock suffered from 2005 to late 2007 as its zigzag between upscale and discount goods slowed sales growth.
“Wal-Mart has earned the right to grow, and it does not sound like it would result in meaningful capital expenditures growth as (year-to-year) square footage growth will likely be similar” to 2009, wrote David Binder, an analyst at Jeffries & Co. in a note published Tuesday.
Binder added that maintaining the growth rate in space while increasing the number of stores it opens could be achieved by opening smaller supercenters.
In the future, he believes that Wal-Mart can be much more flexible and open stores ranging from 99,000 to 175,000 square feet. That compares with its past focus on 195,000-square-foot sites. The company has said it’s scaling back the size of its supercenters, which offer food as well as general merchandise.
Binder noted that in recent conversations with management, Wal-Mart has even expressed some confidence in developing supercenters as small as 70,000 square feet.
In fact, Wayne Hood, an analyst at BMO Capital Markets, wrote in a report Friday that he expects Wal-Mart to announce that it’s narrowing its guidance for growth in square footage to 4 percent this year from the previous estimate of 4 percent to 5 percent. That compares with 5.9 percent last year.
Wal-Mart spokesman John Simley declined to comment about any announcements the company will be making during the two-day analysts’ meeting, to be held in Rogers, Ark., several miles from its headquarters in Bentonville, Ark.
Analysts also are looking to hear about more details of Wal-Mart’s aggressive pricing strategies as it heads into the holidays.
Wal-Mart started a fierce price war on books on Thursday, announcing that its online site, Walmart.com, would charge just $10, with free shipping, for upcoming hardcover releases as Sarah Palin’s “Going Rogue” and John Grisham’s “Ford County.” That’s 60 percent or more off the regular cost.
Amazon.com, the largest online book seller, then matched the prices. The fight became even more heated when the two competitors lowered the prices even further to $9 by Friday. Discount rival Target Corp. threw itself in the ring on Monday, announcing it was matching Walmart.com and Amazon.com prices for seven highly anticipated book titles for pre-ordering on its Web site.
Also last week, Walmart.com started selling an array of personal care products. Last month, Wal-Mart announced that it was expanding its $10 holiday toy assortment to 100 items.
“We don’t believe management is saying with these initiatives that they are willing to lose money on them; rather, we believe they are saying that they can drive sufficient volume to be profitable,” wrote Hood.
Hood doesn’t expect Wal-Mart to update its third-quarter earnings outlook of 78 cents to 82 cents per share or change its guidance for sales at stores opened at least a year. Wal-Mart expects that this metric — considered a key indicator of a retailer’s health — should be in the range of flat to up 2 percent.
Analysts surveyed by Thomson Reuters expect 81 cents per share in the third quarter.
© 2009 Associated Press. Displayed by permission. All rights reserved.


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Major Australian banks, ANZ, Commonwealth Bank (CBA), National Australia Bank Limited (NBA), and Westpac, announce their support behind Australian Payments Plus’ (AP+) development and establishment of an open, standards-based national identity infrastructure called ConnectID, to protect customer privacy and drive productivity in the digital economy.
What do the executives think about ConnectID?
Lynn Kraus, CEO AP+ said “This is a major milestone for the Aussie industry’s adoption of digital identity, aiming to securely and deliver a seamless online identity verification to solve real world issues. This includes proving your identity online for age verification, setting up phone plans, employee onboarding, travel bookings, loan applications & insurance pay outs.”
“In Australia there is a need to facilitate identity verification methods to reduce costs & enhance compliance outcomes for businesses, help reduce the hassle as well as instances of fraud & identity theft for Aussies, also improving ‘digital trust’ between customers & vendors.”
“Customer trials are expected in late 2022 then a market launch next year. ConnectID is already accredited under the Aussie Govt’s Trusted Digital Identity Framework (TDIF). We are excited that AP+ can deliver innovation, security, and convenience to Aussie consumers and businesses through ConnectID, a national digital identity ecosystem,” Lynn Kraus also added.
NAB Chief Digital, Data & Analytics Officer, Angela Mentis, said the bank was proud to play an integral role in bringing digital identity to the Aussie market, with customer empowerment top of mind for the bank throughout the process. “NAB’s priority in helping bring digital identity to life has been to empower customers with choice – to verify their identity how & when they want, whilst ensuring privacy & personal data is protected,” she said.
“We think that digital identity will be the most crucial enabler of safe and secure interactions in our future economy, and are certain that customers can have trust in this solution,” she added.
Andrew Black, M.D at ConnectID AP+ said, “Aussies trust the security & reliability of their banks & payments providers, for that reason developing a robust, standards-based digital identity ecosystem that works for banks & trusted Aussie organisations is a natural extension for AP+.”
“ConnectID is committed to help Australian banks, businesses and local retailers protect the sovereignty and security of Australian payments and identity data,” Andrew Black also added.
CBA’s General Manager, Open Data, Katherine Sleeth said: “We are pleased to help our customers have more control of their data and privacy, enabling them to share their personal information with approved merchants, backed by the security of the Commonwealth Bank app. The quick online process will save customers time and also help keep them safe while online.”
What is the product offering of ConnectID?
For customers this means they will verify their identity online simply & safely using ConnectID, an Australian digital identity network. ConnectID makes it easy to verify who you are online, using the organisations you already trust. It also allows you to share only the information that is required, at the time it is needed, giving customers complete control over how their personal information is used and peace of mind knowing their data is being kept safe at every step.
A strong digital identity ecosystem as envisaged for ConnectID, not only provides more control and security for customers, but recent global reports have estimated the economic benefit and value for countries like Australia, equates to around 3% GDP by the year 2030 and more after.
Delivering more control and better privacy protection for consumers to share verified personal identity info online, the participation of some of Australia’s largest banks in ConnectID would provide the scale and trust needed to drive widespread consumer and business adoption.
What are the terms of the Partnership?
AP+ brings together digital identity initiatives of BPAY and eftpos in a combined best-in-class proposition demonstrating the benefits behind the recent consolidation of Australia’s three domestic payment organisations, BPAY Group, eftpos and NPP Australia into the one entity.
The ConnectID team is collaboratively working with gov’ts, businesses, online merchants, banks & other identity providers with a view to building identity into our national payment infrastructure, as well as other commercial apps for all Aussies & their businesses.
ConnectID is taking an inclusive, economy-wide approach, working with organisations from sectors like banking, telecom, online retail, government, insurance, and very many others.
AP+’ ConnectID facilitates an ‘exchange’ between identity providers, organisations that securely hold identity data on behalf of their customers, and merchants or gov’t departments that need to verify who they are dealing with or receive identity information that they can trust. AP+ is uniquely placed to offer this service, particularly interactions requiring a payment.
While ConnectID securely facilitates the identity verification or data exchange, it does not see or store the identity data. Identity service providers store consumer identities and take responsibility for providing this secure information only under the consent of the customer.
As interoperability is key to the ConnectID solution, it is designed to complement identity and credential-related services provided by gov’t and work within the Federal Government’s Trusted Digital Identity Framework (TDIF) financial industry privacy & security frameworks, as well as emerging international standards in distributed digital identity credentials for Aussies.


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So, Google is expected to announce the Google Pixel 8 and Pixel 8 Pro in October. Ahead of the launch, the Pixel 8 has received approval from the Wireless Power Consortium (WPC). Revealing its fast charging capabilities.
Google Pixel 8 WPC Certification
The WPC certification confirms that the Google’s Pixel 8, with model number GKWS6, will be known as the Pixel 8 in the market. However, it won’t support the latest Qi2 wireless charging, opting for the older Qi wireless charging standard (version 1.2.4).
The certification also reveals that the Pixel 8 will support 12W wireless charging, like its predecessor, the Pixel 7. The listing includes an image of the device, which closely resembles the previous model.
Reports indicate that the Google’s Pixel 8 will have a 6.16-inch OLED panel with a Full HD+ resolution of 2268 x 1080 pixels. The Pixel 8 Pro, on the other hand, will feature a larger 6.7-inch OLED panel with curved edges. Both devices will be powered by the Tensor G3 chip.
The Pixel 8 Pro is rumored to come with a Samsung GN2 camera, boasting a 50-megapixel resolution and a built-in thermometer for measuring body and object temperature. Further details about the Pixel 8 series are still unknown.
The upcoming launch event is expected to introduce the Pixel Watch 2 as well. Reports suggest that the new smartwatch will feature the Snapdragon W5 generation chip, offering improved battery life and performance compared to its predecessor.
As the launch date approaches, anticipation builds around the Google Pixel 8 series and the Pixel Watch 2. Tech enthusiasts and Google fans eagerly await further announcements and details about these highly anticipated devices.


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The day after President Barack Obama declared cybercrime a “national emergency”, senior executives from AIG and Verizon admitted that corporate boards and management often don't know enough about the risks that cyber breaches pose.
Companies around the world increasingly rely upon each other to insure that they don't compromise each other's data—but often fail to grasp the financial risks associated with interconnectivity, Peter Hancock, President and CEO of AIG, said yesterday.
Hancock, who delivered the keynote speech to a meeting of experts and top corporate officials at the New York University Polytechnic School of Engineering, in Brooklyn, N.Y., pointed to the largest retail data breach in history, the 2013 attack on Target, as an example of the inadequate defenses common to many companies.
The Target incident was the result of a failure to recognize and protect the many access points that make troves of data susceptible to criminals, he said.
“When you look at the Target breach, who would have thought that the air conditioning system would have been the way in?” Hancock said, referring to the vulnerable third-party-run system that allowed hackers to access information related to millions of Target customers.
On Wednesday, the White House announced an executive order authorizing the Treasury Department to impose sanctions against individuals or entities, in particular those located in other countries, who launch cyber attacks.
“From now on, we have the power to freeze their assets, make it harder for them to do business with U.S. companies, and limit their ability to profit from their misdeeds,” Obama wrote in a blog post that accompanied the order and declaration of a “national emergency.”
A series of massive and costly attacks on national retailers in the last 18 months — including on Neiman Marcus, Home Depot and the arts and crafts chain Michaels — have caused the federal government and many large companies to reassess their vulnerabilities to cyber-sabotage.
Tom Finan, a senior cybersecurity strategist for the U.S. Department of Homeland Security (DHS), told a panel following Hancock's speech that it was “surprising” to discover how many companies hadn't factored the threat of cyberattacks into their emergency risk management plans.
Corporations have been forced to come to grips with the fact that they've had flawed understandings of their own vulnerabilities, said Randal Milch, an executive vice president of Verizon, during the panel.
He said Fortune 500 companies — whose board members are predominantly older than 65 — often invest in pricey risk-prevention tools, without actually identifying what needs to be fixed.
“Self-deception is the most expensive thing you're going to be dealing with,” Milch said. “So if you have a good idea of what your threat vectors are then you can start making a business decision about what you're going to spend.”
As a recently galvanized corporate America begins to assess the collective threats against it, Hancock — who said AIG provides stand-alone cyber risk policies to 20,000 companies — argued it should begin examining fundamental assumptions about how they store and access information about their customers and operations.
“There's an important data architecture question that's also a business question: Does data need to be centralized?” asked Hancock.
Companies need to figure out whether to pool seemingly unrelated data “in a big lake” or keep disparate information separated and therefore harder to compromise through individual attacks.
“We insure thousands of cows in India, with micro-insurance, but we also insure satellites,” he said. “I'm not sure the cow and satellite data need to be integrated.”
Graham Kates is deputy managing editor of The Crime Report. He can be found on Twitter, @GrahamKates. He welcomes comments from readers.


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NEW YORK (CNNMoney) -- 7-Eleven is celebrating its namesake corporate holiday on July 11, otherwise known as 7/11, with a raft of free food.
The chain is handing out free 12-ounce Slurpees on Friday, from 11 a.m. to 7 p.m., available in the usual rainbow of flavors: blue, purple, green, yellow, orange and red.
Don't want a Slurpee? How about a FREE Chick-fil-A sandwich? Click here to learn how you can get free eats from Chick-fil-A by participating in Cow Appreciation Day on July 11, 2014!
7-Eleven has doled out free Slurpees on July 11 before. But this year, they're throwing more snacks into the mix for anyone willing to download the store's app.
This will entitle them to a free drink or snack on each day for a week, starting with a Big Gulp on July 12, then followed by M&Ms, Grandma's cookies, Hostess Twinkies, Snickers or Twix ice cream bars, Quaker Chewy Yogurt bars and Pillsbury cookies.
The week-long giveaway returns full circle on July 19 to another free Slurpee.
™ & © 2014 Cable News Network, Inc., a Time Warner Company. All rights reserved.
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Six authorities-approved cryptocurrency exchanges in Japan have submitted their business enterprise improvement plans to the country’s leading economical regulator. Though enhancing their inside devices, most have also engaged in different places of business enterprise growth.
Also go through: Yahoo! Japan Confirms Entrance Into the Crypto Space
Six Business Improvement Strategies Submitted
Six of Japan’s sixteen authorities-approved cryptocurrency exchanges have submitted their business enterprise improvement plans to the country’s leading economical regulator, the Economic Companies Agency (FSA). On June 22, the FSA issued business enterprise improvement orders to Bitflyer, Bitpoint Japan, Bitbank, Btc Box, Quoine and Tech Bureau.
Complying with the orders, each of the 6 corporations confirmed that they have submitted a published business enterprise improvement system to the company on Monday, July 23.
Bitflyer was requested to boost in ten places, Btc Box nine, Bitbank eight, and Quoine seven. Each Bitpoint and Tech Bureau were requested to boost in 6 places. The June 22 purchase was the next for Tech Bureau, the operator of the Zaif exchange.
The only organization to receive an purchase for a “drastic assessment of [its] administration system” was Bitflyer. The exchange, alongside with Quoine and Btc Box, also received an purchase to assemble “a administration technique relevant to the exclusion of delinquent forces.”
Other improvement merchandise the FSA requested incorporate “Building a legal compliance technique,” “Establish a hazard administration technique for money laundering and terrorist funding,” “Construction of a separation regulate technique for person home,” “Establishment of a regulate technique relevant to person defense steps,” and “Construction of the hazard administration technique in accordance with the new managing or the like of the virtual currency.”
New Investing and Payment Tools
Due to the fact getting a business enterprise improvement purchase, Bitpoint has launched a couple of new expert services. A trading resource referred to as Bitpoint Advance was launched on June 29. It is “designed to rapidly deal with price data this kind of as charts and board information…on a person screen, without having shifting the screen,” the exchange explained. The resource supports “both in-kind trading and leveraged transactions.”
Before this thirty day period, Bitpoint upgraded its crypto payment technique for retailers referred to as Bitpointpay, which now supports BCH, BTC, and ETH. The organization comprehensive:
We have upgraded the edition to correspond to bitcoin cash (BCH) with the goal of expanding the indicates of settlement for users … As a consequence of this update, consumers (payers) can choose to fork out franchisees from the 3 sorts of virtual currencies.
Soon after apologizing to its consumers again on Monday, Bitbank wrote that they have “fundamentally reviewed the inside regulate technique and administration technique.” The steps, according to the organization, were designed “in purchase to make certain proper and trusted operation of the business enterprise towards customers’ restoration of have faith in.”
To prevent future problems, Bitbank also indicated that they will “continue to assessment the administration approach and other people.”
Past week, the organization launched a profession web-site to “strengthen its recruitment.” The web-site presently lists a number of vacancies to be crammed this kind of as numerous positions in engineering, design, internet marketing, PR, HR, inside audit and compliance. The organization states:
We are presently expanding promptly, but we are seeking for somebody who can function together to grow a lot more.
Zaif introduced previous week that its current iOS and Android smartphone apps will be terminated on October fifteen. “Support will [also] be terminated on Tuesday, October sixteen, 2018,” the exchange wrote.
The organization emphasised that deposits, withdrawals, and trading on the Zaif exchange will be unaffected, clarifying that “Currently we are developing committed new apps. We will make every work to give you with better provider with a new official software.”
New Account Signups Continue to Suspended
In the meantime, Japan’s premier crypto exchange by trading quantity, Bitflyer, issued a detect Monday stating that it “strictly observes the pertinent laws and polices and even further strengthens the administration technique through the organization.”
“We will make every work to avert recurrence and restore customer’s have faith in,” the organization emphasised.
The exchange stopped accepting new consumers instantly after getting the improvement purchase on June 22. At the time of this producing, its website even now displays:
We are presently pausing the account creation by new consumers voluntarily in purchase to do our utmost to make a proper provider administration technique and to boost our tips.
What do you feel of how the Japanese crypto business is evolving? Let us know in the feedback part down below.
Images courtesy of Shutterstock, Nikkei, Bitflyer, Bitbank, Bitpoint, Btc Box, and Zaif.
Will need to work out your bitcoin holdings? Check our instruments section.
The post Japanese Crypto Exchanges Submit Business Improvement Strategies appeared very first on Bitcoin Information.


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The Sterling Group is making the most of what it can using a small space for its new ID Woodward loft development just north of downtown Ferndale.
The ID Woodward lofts, 23350 Woodward Avenue, will occupy a thin sliver of land at the corner of East Woodland Street and Woodward, five blocks north of Nine Mile Road. The four-story building will be 35 feet wide and 70 feet tall, making it the tallest building in the neighborhood. It will have 18 units and ground-floor retail space.
Each unit will be designed in a traditional urban loft-style space, ranging in size from 500 to 1,100 square feet. Each unit comes with spacious floor plans, spiral stair cases, balconies, floor-to-ceiling windows, 17-foot-tall ceilings and parking.
The building will utilize Euro-style elevator parking, which is unique to Metro Detroit. The euro style elevator parking systems allows a lift to store the vehicles with a lift so residents can press a button to get their car.
The units are priced between $130,000 and $275,000 for a dual-floor
penthouse, although most of the units can be bought for $150,000.
"We are able to offer competitively priced lofts without compromising quality because of the highly efficient use of space. In short, we are selling volume," Frank Guirlinger, director of development services at Sterling Group. "We achieved this by developing underutilized properties and applied innovative design and creative parking solutions which resulted in a viable residential community that meets today's market demands."
The Sterling Group is targeting a segment of loft buyers seeking affordability in a walkable community with a vibrant night life and other amenities. Higher priced residential lofts have dominated the loft boom in Metro Detroit in recent years.
The project will occupy a lot that has been vacant for a number of years. It's set to break ground this fall and finish construction in the summer of 2008.
For information, visit the Sterling Group's Loft Shop sales center at 23365 Woodward or visit www.IDLOFTS.com or call (248) 417-2882.
Source: Frank Guirlinger, director of development services at Sterling Group
Writer: Jon Zemke


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Abu Dhabi Islamic Bank (ADIB) launched its new Analytics Center of Excellence (‘ACE’), a fully integrated, real-time data analysis & visualisation center. ACE will enable ADIB to drive greater efficiencies, optimise performance and respond to complex market dynamics with agility and speed.
New data for the month of January 2021, published by ACE, reveals that 52% of ADIB’s new account openings took place through digital channels, a growth rate of 5 times compared to January 2020. The research also found that 78% of ADIB’s customers are now digitally active, a growth of 8% as compared to January 2020.
Ihab Ismail, Chief Analytics Officer, ADIB, said: “Our mission is to enable our customers to achieve their financial aspirations by delivering a seamless and convenient banking experience, and we have seen an exponential growth in demand for our digital banking tools, as more customers are looking for that all-in-one banking solution which we provide. We are proud that over 750,000 customers are digitally active, and together with the launch of our Analytics Center of Excellence, we can use big data and AI to drive further value with more ever more tailored solutions and products.”
Other core findings in ACE’s January 2021 report highlights the extent to which ADIB’s customers have adopted to the banks’ digital transformation and concluded these activities online:
- 99% of total money transfers
- 78% of KYC checks
- 62% of customer profile updates
- 46% of new finance sales
ADIB is committed to leading the way in digital transformation efforts to drive further value and ACE is a core part of the journey, especially as it serves to aggregate real-time information across all business units and uses smart analytical models, AI and big data to generate operational insights and recommendations. ADIB will continue to advance projects for the next phase of its digital journey, including expanding its solution and products and rolling out new capabilities on its app.


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Induna, a Kolkata-based e-commerce platform for buying DVDs and home media, announced early Friday morning that it would be shutting shop. The shuttering was announced in an email to the site’s customers, and on the firm’s social media pages. The site will not accept orders beyond March 20, it said.
In the years since its launch in 2007, when e-commerce was starting to find its footing in India, Induna emerged as an aggregator of film DVDs— and later Blu-Ray disks— for film enthusiasts in India, offering shipping everywhere from small towns without extensive film libraries to countries where DVDs were not locally available.
In spite of rampant piracy in the form of physical disks sold by unauthorized vendors, the site continued to operate, serving up everything from big-budget films to more independent films that would be hard to find elsewhere.
The company did not shy away from the reason for its shuttering: streaming on OTT platforms had put more films within reach of more people without having to buy physical disks, and film producers in India are increasingly skipping physical releases altogether.
“With various other new means of consuming cinema, and the cessation of DVD releases by almost all production houses, it had already been unviable to run affair[s] at Induna for a while now, [and] we have now reached that point when we bid goodbye and say thank you to you all for being along with us in this most momentous ride,” the site told users in its farewell email.
In other words, the death of the physical media format for film releases spelled the end for Induna. The site even weathered a 2016 blocking in India, after the producers of the comedy Great Grand Masti reportedly objected to an automated listing on the site announcing that the film’s DVD was ‘coming soon’. (A copy of the film headed to the Central Board of Film Certification’s now-disbanded appellate tribunal was leaked, apparently leading its producers to obtain blocking orders for sites that may not have even hosted a copy of the leaked cut.)
The site’s inactivity long signaled the circumstances it faced. Its last promotional email boasting of new additions to the site’s catalogue was sent in 2018.
The gap is understandable. The average internet speed in India in 2007 was, according to one count, less than 1Mbps. The average speeds today, according to the Speedtest Global Index, are over 37 times faster on mobile networks, which are less than half as fast as wired connections. With low streaming subscription prices and fast internet, the media distribution baton has been firmly passed on to OTT services.
The death of the physical media model for distributing films was, however, not inevitable— the United States still sees physical releases for most large films and some TV series that are produced in the country, as do countries like Japan.
The Japanese home media market is so alive, in fact, that it is the only country where a physical version of S.S. Rajamouli’s Baahubali is available in Blu-Ray format. In spite of the franchise’s success, it didn’t get a Blu-Ray release in India, settling instead for a DVD release that is largely out of stock on most online marketplaces. A Twitter handle named @isRRRoutOnBlu, meanwhile, is keeping a close watch on whether Mr. Rajamouli’s newest film, RRR, has a high-quality physical release on the horizon. The film has been nominated for an Oscar, but its producers have not yet announced whether it will receive a physical release.
Unlike in Japan and the United States, however, the Indian market for legal physical media releases was already burdened with surging levels of physical piracy. Ernst & Young estimated in 2009 that film piracy was so big in India that it was costing over 8 lakh jobs and $4 billion in lost revenue.
Even Moser Baer, which tried to beat the pirates at their game with legal but affordably priced disk releases of Indian films, failed to gather steam and filed for bankruptcy in 2018. The company’s assets were taken over by Los Angeles-based Vinpower Digital, which announced in 2021 that the brand would be making a comeback— but no more films are coming out under the Moser Baer brand. Its disks are blank.


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Chipotle gained $50.94 to $577 in after-hours action.
The company reported diluted earnings per share of $1.15 a share on sales of $1.2 billion. Adjusted earnings per share were $1.72.
The company had been expected to report earnings of $1.40 a share on sales of $1.2 billion, based on a FactSet survey of 32 analysts. In the same period a year ago the company posted earnings of $1.34 a share on sales of $1.1 billion, according to FactSet data.
The stock has risen 24.3% since the company last reported earnings on Oct. 25.
The company reported same-store sales rose 6.1% over the same period last year.
Digital sales rose 65.6% to account for nearly 13% of all sales.


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The Walt Disney Co. board of directors met Sept. 19-21, 2004, on the 20th anniversary of Michael Eisner's service as ceo, and voted to reaffirm support for its management team, redesigned the management incentive bonus program and started its search for its next ceo to be chosen by June 2005.
TYRO screenwriter Ali Russell has launched feature production banner Elysium Ent. with a pair of comicbook-based projects -- THE 10TH MUSE and an untitled Rob Liefeld film, reports VARIETY. Brooklyn Weaver of Energy Ent. will sheperd the new company. Weaver discovered 21-year-old Russell at the UCLA screenwriting program.
Weaver optioned MUSE for low-six figures and Russell is set to write and produce the film. Based on the comic by Darren Davis, the story follows the adventures of modern-day daughter of the Greek God Zeus.
Rhino Films has joined forces with MOTHER JONES magazine and Alligator Planet to form Rhino Animated Features, which is designed to produce a series of activism docs for theatrical release, reports VARIETY. The first film will be MOTHER SEES RED, which will take a look at America's current culture wars. An animated version of labor leader Mary Harris "Mother" Jones will host the films.
MOTHER JONES will give editorial direction for the projects. Rhino Films head Stephen Nemeth brought the idea to Alligator Planet, where Tim Boxell will head the company.
A group of Korean researchers from a local university have developed a new kind of high-quality MoCap technology that is so simple to use that they believe this will allow Koreans to compete internationally in vfx, reported THE CHOSUN ILBO.
According to TrendWatch, studio owners allocate nearly one-fourth of their new capabilities budget for software apps and add-ons.
Cambridge Animation Systems, developer of Animo 2D software, has moved its company headquarters from England to The Digital Hub, in Dublin. Cormac Slevin, who has been with the company since 1998, will manage the new office.
The company has restructured its management team. Peter Florence, an original founder of Cambridge Animation Systems, will stay on as a shareholder alongside the new investment group; Digital Animation Media Ltd.
John Taddeo, formerly associated with Florida publisher Tekno Comics, has put up an offer of $500,000 to purchase all the assets of bankrupt comicbook publisher CrossGen, reports ICv2.com.
The filing states. "The sale of the Assets to the Purchaser is far from a mere continuation of the Debtors' businesses in the ordinary course, but represents a liquidation of the businesses.
Anchor Bay Ent., IDT Ent.'s home video subsidiary, and Twentieth Century Fox Home Ent. (TCFHE) have entered into a long-term distribution agreement. TCFHE will handle all manufacturing and distribution services for Anchor Bay's entire library of DVD and VHS offerings.
Time Warner Inc. withdrew its bid for Metro-Goldwyn-Mayer on Monday and Sony Corp. rushed in to buy the studio for nearly $5 billion, VARIETY reported. The deal provides Sony with the largest library in Hollywood (nearly 8,000 films) along with valuable assets to set up TV distribution deals, and the chance to own such mega franchises as the James Bond film series.
Radar Pictures of Los Angeles (THE CHRONICLES OF RIDDICK and THE LAST SAMURAI) has agreed to a minority interest in the Canadian visual effects group of companies that includes C.O.R.E. Feature Animation and C.O.R.E. Digital Pictures of Toronto.
Said Bob Munroe, president/co-founder of C.O.R.E.: "Partnering with one of Hollywood's most successful independent production companies will give us greater access to the resources required to bring major animated feature films to market.
Hunt Valley, Maryland-based computer game company BreakAway Ltd. has announced the opening of a new development studio in Austin, Texas. With growth in its government and entertainment divisions over the past year, BreakAway has seen revenues jump 50% since the start of 2004, while the company has added more than 20 new employees during the past six months.
Walt Disney Co.s ceo Michael Eisner has announced that he is stepping down from his post when his contract expires in Sept. 2006, reports the WALL STREET JOURNAL. This move ends Eisners two-decade reign at the mega-corporation and comes six months after former board members Stanley Gold and Roy Disney tried to oust him from the firm. Gold and Disneys efforts did lead to Eisner being removed as chairman. Disney president Robert Iger is Eisners "preferred choice" to succeed him.
The Motion Picture Sound Editors board of directors has voted to create a new category of membership for foley artists. The MPSE is dedicated to improving recognition of its members by educating the entertainment community as to the artistic merit of sound editing and related arts.
"I consider this to be a huge step forward for our organization, said MPSE president David Bondelevitch. This decision will allow us to grow not only in size and stature, but in the scope of what we hope to accomplish."
On Sept. 1, 2004, TV-Loonland filed to have its 7,156,969 shares listed on the British AIM market as a second listing. The shares are expected to be admitted and start trading on September 30, 2004, subject to the LSEs approval. The filing used a fast track route process an abbreviated admission procedure for companies already listed on other selected stock exchanges.
Video game publisher Acclaim Ent. Inc. filed for Chapter 7 bankruptcy liquidation on Sept. 2, 2004 upon its failure to secure new financing, reports REUTERS. The move is a result of the companys recent lack of hit games and faced lawsuits from some of its licensees, including teen superstars Mary-Kate and Ashley Olsen and BMX biking star Dave Mirra.
The SwordStaff.com booth at the Canadian National Expo, a comic, sci-fi and horror, convention, was raided by police after the authorities were tipped off that the company was selling illegal weapons. The online company sells replica swords, daggers, maces and war hammers from movies and television series. Four Americans and two Canadians were arrested on multiple counts of possessing and selling prohibited weapons.
SEGA Corp. has announced plans to enter the Chinese market for online gaming. In preparation for full-scale business operations in China, the company has established a branch office in Shanghai -- SEGA (Shanghai) Software Co. SEGA views the Chinese a strategic market for growth in multiplayer online gaming market with more than 10 million online gamers. The company plans to establish the regional business through its local branch offices, with content designed to appeal to market-specific tastes and demand.
Ludlow Music has withdrawn its demands that JibJab Media stop using Woody Guthrie's THIS LAND IS YOUR LAND tune in the Web short, THIS LAND, because it was discovered that Ludlow does not own the copyright, reports WIRED. JibJab's lawyers discovered that anyone can record their own version of the song, because the copyright has expired.
Discovery Communications has acquired the Charles W. Clark Co. Inc., doing business as Rainbow Educational Media an award-winning publisher and distributor of high-quality core-curriculum educational videos, CD-ROMs and DVDs for children and young people in kindergarten through eighth grade. This acquisition further expands the vast digital library of Discovery's newly formed Discovery Education business unit, providing video content to enhance the classroom learning environment.
Los Angeles-based family entertainment company PorchLight Entertainment has been acquired by its senior management and Beringea through Global Rights II, a media, brand and intellectual property rights fund.
In an effort to grow the animation industry in the country, China has announced that it will encourage private investors developing and creating animated films and TV series, reports CHINA DAILY. In terms with the Opinions Regarding Development of Animation and Comic Industry for Film and TV Programs in China, the State Broadcasting and Radio Administration promised that trustworthy, privately-financed cartoon making agencies would be treated equally with state-backed animation and comic production organizations.
Toon Boom Animation Inc. has appointed two new resellers in China and Korea. As part of its new distribution strategy in Asia, Dison Computer Graphics & Image Company Ltd. will now take care of Toon Boom's products throughout Mainland China, while CS M&C Technology Inc. will do the same in Korea. Both Dison and CS M&C will also provide first-line support to Toon Boom's local customers within the same time zone and language.
As part of the release of YU-GI-OH! THE MOVIE, Warner Bros. Pictures handed out one of four new YU-GI-OH! trading cards to people who attended the film. Like the same type of promotion for the original POKEMON movie, fans were hot to get their hands on the collectibles. However, two fans in Chino, California took it to a criminal extent. The two posed as Warner Bros.


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IHG has announced a strategic partnership with long-standing partner Asset World Corporate to manage a portfolio of hotels across Thailand with the first signing announced today as the 306-room InterContinental Chiang Mai Mae Ping.
Under the structure of the agreement, hotels in multiple popular destinations such as Chiang Mai, Bangkok and Hua Hin will be signed within three years. The first signing of the agreement announced today is the 306-room InterContinental Chiang Mai Mae Ping Hotel.
InterContinental Chiang Mai Mae Ping, a conversion of the prestigious Imperial Mae Ping Hotel, has long been in the forefront of Chiang Mai’s hospitality scene throughout its more than 30 years of operation. The hotel has held many high profile international events, as well as welcoming many prominent guests including royal family members, heads of state and celebrities from across the world. The hotel will portray the timeless and lavish beauty of the Lanna era with a modern luxury essence.
As the world’s first international luxury travel hotel brand, InterContinental Hotels & Resorts has been pioneering new international destinations for decades. The brand sets itself apart by delivering world-class standards of sophistication through understated service and exceptional amenities. It is famed for its devotion to the comfort and wellbeing of guests through personalised and attentive services. IHG’s loyalty programme IHG® Rewards Club of more than 100 million enrolled members also provides access to a global following of travellers. The hotel is expected to open in 2021 and will continue its extension with full operations in 2022, and aims to set new hospitality benchmark in Chiang Mai.
Located in downtown Chiangmai near the famous Chiang Mai Night Bazaar, Tha-Pae Gate, Warorot Market and other tourist attractions, InterContinental Chiang Mai Mae Ping will cater for both leisure and MICE travellers with its six food and beverage outlets, and over 3,600 sqm of outdoor and indoor convention, event and meeting spaces. Guests can also enjoy a holistic retreat at the Lanna Spa which focuses on balancing the body and mind with spa services accompanied by traditional and fusion Lanna cuisine. The Teresa Teng Museum, which is currently located on the 15th floor suite of the hotel to commemorate the famous Taiwanese singer and cultural icon will be conserved, with plans to convert it to a specialty restaurant and roof top bar, where guests can experience its original set-up, decor and furniture when Teresa Teng last stayed here over two decades ago.
Thailand continues to be a strong growth market for IHG with 29 existing hotels across 6 brands in the portfolio, with another 30 hotels in the pipeline.


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Radio Shack is being reborn, but it won't be as noticeable as before. Instead, it will be called "RadioShack Express," a store-within-a-store that will open in 100 HobbyTown stores across the United States.
HobbyTown sells specialty toys. The company said the partnership "will enhance the product selection and services" at its 150 locations. . . . more


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Chrysler's eight-speed transmission saving millions of gallons in fuel
Chrysler Group's eight-speed TorqueFlite transmission is now in more than one million vehicles around the world, and the carmaker has projected that motorists will save a staggering 700 million gallons of fuel over vehicle lifetimes. It's also estimated the transmission will reduce CO2 emissions by more than six million metric tonne
Close ratios between fifth and eighth gear contribute to the green output, and the unit also uses a low-viscosity fluid that doesn't need to be replaced. These features are complemented by software that adapts to driver behaviour, performance, temperature, stability control, and acceleration to optimise gear changes for further fuel savings.
The gearbox's versatility has seen it feature in a wide variety of vehicles sold by the brand in North America, including the rapid Dodge Charger, luxurious Chrysler 300C and robust Jeep Grand Cherokee.
In 2015, TorqueFlite is expected to find its way into further vehicles, and its success could see the automotive group extend its reach to European models. At present, the 300C sold in the UK uses a five-speed automatic gearbox, and the Grand Voyager a six-speed automatic. A larger gearbox for these models would make more sense than in the compact Ypsilon, which uses a five speed-manual version and boasts peak economy of 74.3mpg combined.
Chrysler's motorists already enjoy clean and responsive drive from their models, and even greater advancements to economy would represent welcome savings on running costs.
For more from the manufacturer and to take any of its cars for a test drive, contact the Charles Hurst Chrysler team in Belfast online, by phone or visit us in person.


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The Sheer Publishing team recently attended the Loeries Awards in Cape Town, giving them an opportunity to network with the creative greats of the advertising industry. The Loeries are presented annually to honour South Africa’s finest brand communications specialist in architecture, direct marketing, live events, video, digital media, design, print and radio advertising. A big congratulations goes out to all the winners and a special mention goes to Egg Films for winning four awards for their amazing work in the music video for Sheer Publishing client via Kobalt Music and Skrillex.
Skrillex’s latest music video “Ragga Bomb”, which was shot in South Africa by renowned production company Egg Films, won the following Loeries;
Craft Gold – TV Crafts – Production Design
Craft Gold – TV Crafts – Editing
Bronze – TV & Cinema Commercials – Above 90s
Craft Gold – TV Crafts – Direction


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India’s manufacturing activity expanded for a second consecutive month in September although companies struggled to sustain demand, with the price of goods barely increasing, a survey has said.
The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) came in at 51.2 in September, little changed from its August reading, pointing to an ongoing recovery in business conditions, post GST launch. The figure was below the long-run trend of 54.1. A reading above 50 denotes expansion and one below this mark means
“September data painted an encouraging picture as the sector continued to recover from the disruptions caused by the introduction of GST in July,” said Aashna Dodhia, economist at IHS Markit, and author of the report. “Business confidence strengthened among manufacturers as they reportedly anticipate long-term benefits from recent government policies. This was confirmed as the sector experienced meaningful gains in employment.”
The new orders sub-index, a proxy for domestic demand, fell to a three-month low of 51.0 in September from 51.5, discouraging firms from increasing output faster. Foreign demand fell. On the back of more new work orders, Indian manufacturers raised their staffing levels at the fastest pace since October 2012.
On the prices front, the survey said that though cost pressure intensified during September, inflation remained weaker than the long-run trend. The strengthening of the Indian rupee may put a squeeze on efforts to revive demand for Indian goods from export markets.
“The lingering effects of recent economic shocks continue to cast a shadow on economic growth as IHS Markit downgrades its real GDP growth forecast to 6.8 per cent for fiscal year 2017-18,” Dodhia said, adding that “it will be interesting to see if India’s new economic advisory council will bolster its path to recovery”.