Aisa Net Fri, 23 Jul 2021 00:28:36 +0000 en-US hourly 1 Aisa Net 32 32 China Telecom gears up for biggest share sale of 2021 after US ban Fri, 23 Jul 2021 00:22:29 +0000

(Bloomberg) – Six months after being kicked from the New York Stock Exchange, China Telecom Corp. has received regulatory approval for a major share sale in Shanghai that is expected to be the largest in the world to date in 2021.

The plan to raise 54.4 billion yuan ($ 8.4 billion) on the mainland comes as growing tensions with the United States bring Chinese companies back to their local stock markets. China Mobile Ltd., which the NYSE delisted at the same time, is also looking to sell shares in Shanghai.

It’s already a record year for mainland share sales, with primary trades reported at 281 billion yuan, according to data compiled by Bloomberg. Stricter rules in China on overseas listings and pressure from President Xi Jinping to elevate mainland markets are adding to the momentum.

“The return of Chinese companies will be a trend given the current political tensions between the United States and China and the tightening of regulatory rules,” said Dickie Wong, executive director of research at Kingston Securities (Hong Kong) Ltd. The trend “is likely to be very strong in the short and long term, if not forever,” he said.

The China Securities Regulatory Commission did not provide details on the approval of China Telecom’s listing in a statement released on its website Thursday evening.

Hong Kong-listed shares of China Telecom rose 48% this year through Thursday’s close.

While the sale of China Telecom shares – which has yet to be priced – is likely to be the biggest this year when it takes place, it may not be for long. Syngenta Group, the Swiss seed and fertilizer company owned by China National Chemical Corp., is seeking to raise 65 billion yuan in a listing in Shanghai later in the year.

China Mobile, China Telecom, and China Unicom Hong Kong Ltd., also banned in the United States, are all listed in Hong Kong. They clashed with the NYSE in January over national security concerns following a move by then President Donald Trump to ban investments in companies linked to the Chinese military.

“High-growth companies have no choice but to register on the mainland or in Hong Kong,” said Steven Leung, executive director of UOB Kay Hian (Hong Kong) Ltd. “More Companies choosing the A-share market may mean more capital funded by Hong Kong shares, ”he added.

This possible challenge for Hong Kong stocks could add to the pressure on the Hang Seng Index, which erased gains made earlier this year. China Mobile and China Unicom are members of the city’s stock index.

(Adds the performance of China Telecom since the beginning of the year in Hong Kong in paragraph 6)

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Covid-19 outbreaks leave Southeast Asia with little policy space Fri, 23 Jul 2021 00:06:24 +0000

THEAST YEAR Many countries in Southeast Asia have been praised for avoiding large epidemics of covid-19, even though they saw a sharp decline in production. They did not come out unscathed this year. While widespread vaccination can limit the spread and severity of the Delta variant across much of the wealthy world, the vast majority of Southeast Asians still don’t get bites. Indonesia, Malaysia, Myanmar and Thailand are reporting more cases than ever. Daily new cases in Vietnam are three times the annual total for 2020.

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High-frequency indicators suggest that the upsurge in cases has weighed on economic activity. Google’s daily mobility figures suggest people in Indonesia and Vietnam are spending more time at home than they did during epidemics last summer. The most reliable indication of the scale of the economic impact may come from Malaysia, which was hit by a new epidemic shortly before its neighbors. There, the manufacturing purchasing managers index, an indicator of the sector’s activity, fell to 39.9 in June, the lowest since April 2020. (A figure below 50 indicates a contraction.)

On July 20, the Asian Development Bank (ADB) has downgraded its growth forecast for Southeast Asia. He now expects an expansion of 4% this year, down from an earlier forecast of 4.4%. That may not sound so bad, given the scale of the public health disaster. But this means that the region is not expected to return to its pre-pandemic production level by the end of 2021. Some countries, moreover, will suffer much more than others. And they have fewer tools available to soften the blow.

Vietnam was perhaps the luckiest. The country’s merchandise trade accounts for 201% of its GDP, third in the world after the free trade ports of Hong Kong and Singapore. Growing demand for consumer goods from confined Westerners has helped the country experience one of the fastest recoveries in the world and made it one of the few economies to thrive in 2020. Although the ADB trimmed its 2021 growth forecast for Vietnam, it is still among the highest in the region, at 5.8%.

In contrast, Thailand suffered without tourists, whose spending accounts for about a fifth of the country’s spending. GDP. The economy shrank by more than 6% last year, and the ADB expects growth of just 2% this year. Faced with this dire economic situation, Phuket has reopened its doors to some vaccinated foreign tourists, a move that Thailand’s prime minister Prayut Chan-o-cha bluntly called a “calculated risk” last month. The Indonesian government’s decision to ease lockdown restrictions from July 26, when cases are still dangerously close to their peaks, also illustrates the tough choices many middle-income countries face.

Yet reopening at home alone cannot restore economic normalcy. The recent epidemics have also dashed any hope of resumption of tourism from China. Chinese visitors made up between a quarter and a third of tourists to Cambodia, Myanmar, Thailand and Vietnam before the pandemic. Beijing’s reluctance to open its borders, which could persist until next year or beyond, is adding to the economic pressure.

Meanwhile, the region’s central banks are less able to fuel domestic demand and cushion the impact of epidemics than they were at the start of the pandemic. Last year, interest rates were lowered to historically low levels in most emerging markets. The central banks of Indonesia and the Philippines have even joined with those of rich countries in pursuing modest bond buying programs. Nothing like that seems likely this time around. The region’s currencies stumbled as sales accelerated over the past month. In May, Thailand recorded its biggest current account deficit in eight years, leaving little room for the country to cut interest rates for fear of discouraging foreign capital. The combination of more covid-19 and less political space will make the return to normalcy much more difficult than it seemed a few months ago.

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This article appeared in the Finance and Economics section of the print edition under the title “Circled in”

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Hyundai Motor Group Honorary Chairman Mong-Koo Chung inducted into Automotive Hall of Fame at official ceremony Fri, 23 Jul 2021 00:03:41 +0000
  • Honorary President Chung becomes the first Korean to receive this honor, the industry’s highest honor

  • Chung recognized as the driving force behind the Group’s success and a steadfast champion of the automotive industry and the Korean economy

  • Dedication to vehicle quality, global expansion of R&D and manufacturing network have been key to Chung’s approach

  • Hyundai Motor Group Continues To Pursue Progress For Humanity

DETROIT and Seoul, South Korea, July 23, 2021 / PRNewswire / – Honorary Chairman of the Hyundai Motor Group, Mong koo chung, was officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The industry’s highest honor was presented to the Class of 2020 at a celebration held at the ICON Convention Center in Detroit on 22nd of July.

Hyundai Motor Group Honorary Chairman Mong-Koo Chung has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group President Euisun Chung, who took the place of Honorary President Mong-Koo Chung.

Hyundai Motor Group Honorary Chairman Mong-Koo Chung has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony.  The induction ceremony was attended by Hyundai Motor Group President Euisun Chung, who attended in place of Honorary President Mong-Koo Chung & # x002019; s.  (Left to right) Euisun Chung, Chairman of Hyundai Motor Group and Ramzi Hermiz, Chairman of the Board, Automotive Hall of Fame.

Hyundai Motor Group Honorary Chairman Mong-Koo Chung has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group President Euisun Chung, who took the place of Honorary President Mong-Koo Chung. (Left to right) Euisun Chung, Chairman of Hyundai Motor Group and Ramzi Hermiz, Chairman of the Board of Directors, Automotive Hall of Fame.

Hyundai Motor Group Honorary Chairman Mong-Koo Chung has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony.  The induction ceremony was attended by Hyundai Motor Group President Euisun Chung, who attended in place of Honorary President Mong-Koo Chung & # x002019; s.  (Left to right) Ramzi Hermiz, Chairman of the Board, Automotive Hall of Fame and Euisun Chung, Chairman of Hyundai Motor Group.

Hyundai Motor Group Honorary Chairman Mong-Koo Chung has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The induction ceremony was attended by Hyundai Motor Group President Euisun Chung, who took the place of Honorary President Mong-Koo Chung. (Left to right) Ramzi Hermiz, Chairman of the Board, Automotive Hall of Fame and Euisun Chung, Chairman of Hyundai Motor Group.

The induction ceremony took place in the presence of the president of the Hyundai Motor group. Euisun Chung, who participated in the honorary presidency Mong-Koo Chung’s place. President Chung received the induction trophy and delivered a speech on behalf of his father.

“Honorary Chairman Chung has made the Hyundai Motor Group the world’s fifth largest automaker since its humble beginnings. If my dad were here he would say he owes this honor to our fantastic employees, dealers and customers, ”said Euisun Chung. “My father carried on the legacy of my grandfather Ju-yung Chung, who founded Hyundai. He expanded the Group’s presence globally and continued to strive for excellence in quality. He has made the Group something that employees and customers can all be proud of.

President Chung also did not forget to mention his vision for the future.

“As Hyundai meets the challenges and opportunities of the 21st century, we will continue to strive for excellence, defy convention and lead the evolution of intelligent mobility. We will make progress for humanity, ”said the president.

The Automobile Hall of Fame has also taken note of Chung’s many accomplishments, including:

  • Acquisition of Kia Motors Corporation in the Hyundai Motor group

  • Spearheading the Group’s growth with new factories in key regions, including United States, Europe, China, India, Brazil and Russia

  • Create a highly efficient and vertically integrated business structure that produces everything from steel to vehicles

The Automotive Hall of Fame was established in 1939 to honor notable business leaders who have made significant contributions to the advancement of the automotive industry and mobility. Chung becomes the first Korean to receive the honor, which was first announced in February 2020.

For more information on Hyundai Motor Group, please visit:

SOURCE Hyundai Motor Group

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New U Life opens Japan as NFR market Thu, 22 Jul 2021 18:38:00 +0000

Lehi, Utah, July 22, 2021 (GLOBE NEWSWIRE) – New U Life Corporation, a health supplement company that creates products to help individuals achieve full body health, recently launched its SomaDerm® gel in Japan. NFR (not for retail) market.

Ryan Linton, Executive Director of New U Life, said: “We are delighted to have the opportunity to present SomaDerm in Japan. Japan has long been a major player in the global economy, including the direct selling industry in which we operate. We have seen a great response to our whole body health message in other markets and are excited to give people in Japan the opportunity to try our innovative products for themselves. No matter where they live, we want everyone who uses our products to enjoy a happier, healthier lifestyle.

Initially, SomaDerm is the only New U Life product that will be available in Japan, although the company expects this launch to pave the way for other products in the future. Nationally, the company’s lineup also includes products such as the NeuraVie ™ nootropic drink blend, Fortress® supplement and its body transformation products.

Pat Berry, International Vice President of New U Life, adds, “We are delighted to bring SomaDerm and our company’s focus on whole body health to Japan. Our products aim to inspire, innovate and connect, and this message is for the world. The New U Life family has already helped us achieve tremendous international growth in many countries. We are delighted that the NFR model allows the Japanese to start using our unique products. I have every reason to believe that our New U Life family will continue to grow in exciting ways as we move to Japan.

As a transdermal gel, SomaDerm relies on the highest quality nutraceutical ingredients. SomaDerm’s botanical ingredients such as green tea, ginkgo biloba, and wild yam root are associated with a wide range of health benefits, including supporting healthy adrenal function.

The introduction of SomaDerm to the Japanese NFR market follows a recent trend of significant international growth for New U Life. Over the past two years, the brand has launched its products in New Zealand, Australia, Canada, Taiwan and Hong Kong. Based in the United States, international expansion has become a major focus for the company thanks to the enthusiastic reception it has received in these markets.

Alexy Goldstein, CEO and Founder of New U Life, said: “It is an exciting time as we develop our abilities to further change lives by welcoming Japanese people into the New U Life family. I can’t wait to see the people of this great country embrace the wonderful products and share New U Life with others.

As an NFR marketplace, SomaDerm will initially only be made available to distribution partners for personal use, with product orders originating from the company’s headquarters in the United States. At this time, partners will not be allowed to resell SomaDerm products. All product purchases should be made directly through New U Life. Customers and channel partners must comply with local customs and import laws.

The New U Life team is delighted to welcome people in Japan to its ever-growing family as they continue to develop plans for further international expansion.

About New U Life Corporation

New U Life Corporation was founded by Alexy Goldstein to set a new standard for innovation and product quality while improving lives. In addition to its renowned SomaDerm gel, the company also produces the NeuraVie nootropic drink blend, Fortress supplements, and other products with key independently researched ingredients that promote overall health and wellness. New U Life operates on a direct sales model, in which distributors receive compensation based on their sales of individual products. To learn more, visit

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Chinese electric vehicle battery maker CATL sues small rival for alleged intellectual property infringement Wed, 21 Jul 2021 13:39:56 +0000

BEIJING (Reuters) – CATL, China’s leading manufacturer of electric vehicle (EV) batteries, said on Wednesday it had sued small rival China Lithium Battery Technology Co (CALB) for alleged intellectual property violations.

CATL, which supplies Tesla Inc and Volkswagen AG, said in a statement the lawsuit related to batteries made by CALB using its new technologies which have been installed in tens of thousands of vehicles.

CATL filed a complaint in the southeastern city of Fuzhou, near its headquarters in Ningde.

CALB, which provides GAC, said in a statement on its Wechat account that it focuses on independent research and technological advancement.

The batteries it supplies to customers have passed assessments to make sure they don’t violate the intellectual property rights of others, he added.

Batteries are essential components of electric vehicles, and Chinese companies are expanding their production globally.

According to the China Automotive Battery Innovation Alliance sales ranking, CATL was China’s top manufacturer of electric vehicle batteries in the first half of this year, followed by BYD and LG Energy Solution. CALB was # 4, with a much lower market share than CATL.

(Reporting by Yilei Sun and Tony Munroe; Editing by Mark Potter)

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Asian exporters show recovery still has legs amid virus fears Wed, 21 Jul 2021 07:11:52 +0000

(Bloomberg) – Japan and South Korea continued to post strong export gains, a sign that the impact of virus variants has yet to have a major impact on global demand, so even as the recovery in world trade is approaching its peak.

Exports from Japan, the world’s third-largest economy, jumped 49% in June from a dismal level a year earlier, while the value of Korean shipments abroad in the first three weeks of July increased by a third.

While both figures point to a spike in gains from last year’s very weak performance amid the pandemic crisis, exports continued to grow month over month, indicating that the recovery of the economy. world trade still has legs. Japan’s shipments are up nearly 10% from two years earlier, the biggest gain from 2019 this year.

Nonetheless, economists warned that monthly export gains were also on the verge of leveling off and would offer less aid to global growth in the second half of the year, with the impact of viral variants still difficult to fully assess.

“The recovery in the global economy is starting to look more like a swoosh than a V,” said Cho Chuel, an analyst at the Korea Institute of Industrial and Trade Economics. “Variants of the virus will weigh on global trade and temper the views of optimists who had raised their growth forecasts until recently. “

Japanese and Korean data showed that exports to China and shipments of cars and semiconductors continue to accumulate gains. China has already released figures showing that its exports rose 32% in June, a slight acceleration from the previous month.

Continued growth in China, the region’s economic mother ship, will be necessary to continue fueling the recovery. Second-quarter growth data suggests Beijing can meet its growth target of over 6% for the year and continue to drive global demand for raw materials and industrial goods.

Read more: China’s more balanced recovery supports global rebound

“Markets have started to shake over concerns about new epidemics, but economic data does not show much of the impact of people who are abstaining from activity,” said economist Hiroaki Muto of Sumitomo Life Insurance Co. the recovery is holding up.

Korea expects record exports this year to bring economic growth to at least 4%, a bullish outlook that has supported the Bank of Korea’s plans to move forward with policy normalization this year. and to drive rate hikes in Asia. But that prospect becomes less certain as the spread of the more contagious variant thwarts plans to lift restrictions in many economies, including Korea itself.

In Japan, even with vaccinations ramping up, a slight increase in infections has put Tokyo in its fourth state of emergency and excluded fans from the Olympics. Games without spectators calmed the mood of an event that was previously hoped to serve as a psychological turning point for the world in the fight against Covid-19.

Read more: Olympics without fans leaves hotels facing 1 million cancellations

“Asia as a whole is disrupted by the new variant, and it has been difficult for the region to return to where it was before the pandemic,” said economist Harumi Taguchi at IHS Markit. “Both in Japan and abroad, the rate of recovery depends on the rate of vaccination. “

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A Two-Cover Story: Japan’s Taiwan Message Gets U.S. Attention Tue, 20 Jul 2021 19:06:00 +0000

NEW YORK – Gone are the plum blossoms and the image of Mount Fuji against a calm pink background from last year. A fully armored samurai warrior mounted on a charging steed is sported on the cover of Japan’s Defense White Paper this year, and people are taking note of the change in leadership.

The annual Defense of Japan White Paper is written by a team of six people from the Ministry of Defense. Four of this year’s staff were women in their 30s, including the team leader. Members are said to have pushed for the samurai on the cover – partly to gauge the interest of young people, but also as a message to the world that Japan is ready to stand up for itself.

The change in Tokyo’s public stance is “astonishing,” according to Japanese expert and political scientist from RAND Corp. Jeffrey Hornung.

The change has been noticed in Washington. While analysts are divided on the best way forward for Japan, it is widely believed that its public messages are deliberate and stray from years past.

Analysts point to several new elements as notable. For the first time, the document directly links Taiwan to the security of Japan. “Stabilizing the situation around Taiwan is important for the security of Japan and the stability of the international community,” he said. “Therefore, it is necessary that we pay close attention to the situation more than ever with a sense of crisis.”

The document also gives more space to the space, cyber and electromagnetic fields and highlights the importance of climate change, aligning with the priorities of US Secretary of Defense Lloyd Austin.

Japan Maritime Self-Defense Force Murasame-class destroyer Ikazuchi, left, Fleet Supply Tanker USNS John Ericsson, and aircraft carrier USS Ronald Reagan advance while conducting a replenishment at sea in the Philippine Sea in August 2020. (Photo courtesy of US Navy)

“What we are seeing again now with the comments from these officials is the connection between the public and the security of Taiwan and Japan,” Hornung said. It was often a topic of discussion in private conversations with Japanese officials, but never acknowledged in public, he said.

“Japan’s new white paper is likely to be well received by US policymakers seeking to work more closely with Japan to contribute to regional peace and security, including stability in the Taiwan Strait,” said Bonny Lin. , the new director of the China Power Project. and Senior Security Researcher in Asia at the Center for Strategic and International Studies Think Tank.

“I would also add that China is watching closely what is happening and is alarmed,” Lin said. She pointed to a video circulating in China on how Beijing could use nuclear weapons against Japan and said it was “a sign that China is concerned that a fundamental change is happening in Japan regarding its Taiwanese policy “.

Derek Grossman, Senior Defense Analyst at RAND, said: “We are seeing a more public messaging campaign from Tokyo that Japan, at a minimum, is concerned about what is happening in the Strait as it is negatively impacting Japanese security, and on the high end that Tokyo could even join the United States in defending Taiwan if the island had already been attacked. “

The white paper comes just weeks after Japan’s No.2 leader Taro Aso, who is deputy prime minister and finance minister, said in a speech that if China invades Taiwan, Tokyo could interpret the move as a “threat to survival of Japan” and deploy Self-Defense Forces to defend Taiwan alongside the United States

Japanese No.2 Taro Aso said earlier in July that “if a major incident occurs [in Taiwan], it wouldn’t be strange at all if it touched on a life threatening situation. If so, Japan and the United States must defend Taiwan together. (Photo courtesy of the Ministry of Finance of Japan)

Yasuhide Nakayama, Japanese Minister of State for Defense, told the Hudson Institute in June that “we must protect Taiwan as a democratic country” and questioned publicly whether the “One China” policy than the United States and Japan followed for decades still worth maintaining.

RAND’s Grossman said, “I don’t expect this trend to reverse as long as Beijing continues to step up diplomatic, economic and, in particular, military pressure against Taiwan. The fact that Tokyo, which normally avoids to express grievances, feel compelled to send such forceful messages to Beijing is truly an indictment of China’s bad behavior in the Strait. “

Aso and Nakayama’s comments follow an April summit statement in which US President Joe Biden and Japanese Prime Minister Yoshihide Suga stressed “the importance of peace and stability across the Straits of Taiwan “- the first reference to Taiwan in a report by US-Japanese leaders. declaration since 1969.

In May, Defense Minister Nobuo Kishi told the Nikkei in an interview that Japan must increase its defense capabilities “at a radically different rate than in the past” and that annual defense spending cannot be limited by the long-standing ceiling of 1% of gross domestic product. .

“When you look at the full commentary from Kishi, Nakayama, Aso, it just doesn’t stop,” Hornung said. “These are not blunders. These are intentional. This is Japan’s public policy position now.”

But Michael Swaine, director of the East Asia program at the Quincy Institute, warned that while the wording about Taiwan in the white paper itself isn’t so alarming, the context is.

“The move towards defining Taiwan as a key strategic location for Japan which implies that an independent Taiwan or Taiwan that remains separate from the mainland is really important to Japan’s national security is very dangerous,” he said. .

Swaine said it is important to remember that the Biden administration has not changed its stance on the “One China” policy, which the United States has maintained since 1979.

As part of this policy, Washington “recognizes the Chinese position” that there is only one China and that Taiwan is part of China. The United States recognizes the government of the People’s Republic of China as “China’s only legal government,” but does not explicitly recognize Chinese sovereignty over Taiwan.

“If you look at the statements made by some US defense officials and military officers about China’s readiness to attack Taiwan, and maybe it will happen soon, there is a greater need for message control within administration to make it very clear that not he is only saying he supports ‘One China’, but he has to actually show that he supports the idea of ​​the ‘One China’ policy, “Swaine said .

Swaine said a better path for Japan would be to exercise “middle power diplomacy,” aligning more closely with countries like South Korea, Australia, Singapore, Indonesia and Malaysia. “to act more as a stabilizer, a brake on the United States and China relationship.”

He called the tensions between Japan and South Korea over historical issues “unfortunate” and said that “the two countries really need to reassess their situation for broader strategic reasons.”

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Greater China and North America Boost Salvatore Ferragamo Revenue in H1 Tue, 20 Jul 2021 17:55:22 +0000

MILAN – Business picks up at Salvatore Ferragamo, stimulated by Greater China and North America.

The Florence-based company on Tuesday announced preliminary revenue of 524 million euros in the first six months of this year, up 44.1%, from 363 million euros in the same period. of 2020 – when society, like its peers, was impacted by the consequences of the COVID-19 pandemic. In the second quarter of 2021, sales climbed 91.3% compared to the same period last year.

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Figures exclude the company’s fragrance business, which will be licensed to Inter Parfums Inc. from October, and these are the reclassified discontinued operations.

As stated, the license will be last for an initial period of 10 years and marks a turning point for Ferragamo’s beauty business because its fragrance division has been managed internally for the past two decades. In order to ensure the continuity of Made in Italy production and the highest level of synergies with the fashion house, Inter Parfums will operate through a wholly owned company based in Florence.

Although no conference call with analysts was held on Tuesday, as usual for Ferragamo during preliminary tax reporting, the company said July continues to show solid revenue growth in the directly operated stores in the United States, Greater China and South Korea. and Latin America, compared to 2020 and the same period in 2019. As of the second week of July, global retail performance is in line with pre-COVID-19 levels.

The next call with analysts will take place after Ferragamo’s board meeting on September 7, when the general manager Micaela le Divelec Lemmi will resign, as reported. From this date, all executive powers will be exercised by Vice-President Michele Norsa. Marco gobbetti, who will remain CEO of Burberry until the end of the year, will then succeed Divelec Lemmi as CEO and CEO.

In the first half of the year, the increase in revenue was achieved despite ongoing lockdowns in some countries and international traffic bans and restrictions, caused by the COVID-19 pandemic. As of June 30, the group was operating with 53% of retail stores at full capacity.

At the end of June, the group’s distribution network had 639 points of sale, including 398 own stores.

In the first half of the year, retail sales increased 46.3% to 381.3 million euros, or 72.8% of the total.

In the second quarter, retail revenues grew 81.3%, with China, North America, Latin America and South Korea surpassing pre-COVID-19 levels.

The direct e-commerce channel continues to consolidate solid growth with sales up 70.6%.

The wholesale channel grew by 41.1% to 138.1 million euros, representing 26.4% of the total.

Sales in the Asia-Pacific region increased 35.2% to 222.3 million euros, or 42.4% of the total.

In the first half of the year, the Greater China distribution channel recorded 45% revenue growth at constant exchange rates. In particular, the retail channel in China and South Korea saw sales increase of 47.4% and 22%, respectively, at constant exchange rates.

Revenue in Japan increased 13.4% to 41 million euros, showing a gain of 55% in the second quarter.

Globally, the Asian continent accounts for more than 50 percent of total income.

The Europe, Middle East and Africa region, still penalized by store closures and mainly by limited tourist flows, recorded an increase in revenues of 22.3% to 96 million euros, or 18.3% of the total.

Sales in North America soared 103% to 137 million euros, or 26.1% of the total. In the second quarter, revenues for this region more than quintupled compared to the second quarter of last year.

Revenues in Central and South America in the first half increased 64.8% to 27.4 million euros.

By category, sales of shoes rose 40 percent to 223.2 million euros, accounting for 42.6 percent of total revenue.

Leather goods and handbags increased 48.5% to 235.4 million euros, accounting for 45% of sales.

Ready-to-wear rose 53% to 29.2 million euros, or 5.6% of the total.

Creative Director Paul Andrew left the company in May and no successor has been named so far as the internal team is now in charge of the collections.

Ferragamo has announced that it has renewed its license agreement with Vertime BV for the production and distribution of watches for a period of 10 years, effective January 1, 2023.

The company signed a sustainability loan with UniCredit for a total maximum amount of 80 million euros. The credit facility is structured as a revolving line of credit with a maturity of 2025 and has a reward mechanism linked to specific environmental and social sustainability indicators that will be verified annually. Last year, the company signed a financing line of credit granted by Intesa Sanpaolo SpA for a maximum amount of 250 million euros which was also linked to the achievement of certain sustainability objectives by the luxury brand.

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Digital financial services appeal to thousands of investors and start-ups Tue, 20 Jul 2021 14:31:24 +0000
Image source: Block Arabia

Over the past five years, digital financial services such as crowdfunding and crowdfunding have become an attractive alternative for thousands of investors and start-ups, directly connecting borrowers to lenders through online platforms and offering different models of investment in the growth of their business. As a result, the entire industry continued to grow in 2020, despite COVID-19, and shows no signs of stopping in the years to come.

According to data collected by, the global alternative finance industry is expected to reach a transaction value of $ 8.9 billion by 2023, a 20% increase in two years.

Crowdinvesting As Largest Segment To Reach $ 7.8 Billion In Two Years

The alternative finance industry includes digital financial services for business clients. Crowdinvesting, as the most important segment of the market, mainly focuses on start-ups trading investments for shares of companies.

On the other hand, crowdfunding is the use of small amounts of capital from a large number of individuals to finance a new business.

Between 2017 and 2019, the transaction value of the global alternative finance market jumped nearly 50%, from $ 3.9 billion to $ 5.8 billion, Statista data revealed. In 2020, that figure has risen to $ 6.3 billion, despite COVID-19.

Statistics show that the unified market is expected to reach nearly $ 7.5 billion in 2021 and then grow an additional $ 1.4 billion over the next two years. By 2025, the transaction value of the global alternative finance market is expected to reach over $ 9.8 billion.

Crowdfunding, as the largest segment of the market, is expected to reach a transaction value of $ 7.8 billion by 2023, an increase of 23% in two years. By 2025, that figure is expected to reach $ 8.6 billion. Additionally, the average fundraising per campaign in the crowdfunding segment last year was around $ 103,500. This figure is expected to reach $ 112,700 in 2021, then grow to nearly $ 122,000 by 2023.

Statistics show the crowdfunding segment is expected to grow to $ 1.1 billion over the next two years, up from around $ 1 billion in 2021, with average fundraising per campaign rising from $ 5,800 to $ 6,400 over the course of the year. this period.

US will account for 20% of global transaction value, Israeli market to experience fastest growth

With a transaction value of $ 1.5 billion in 2021, 12.3% more than a year ago, the United States ranks as the largest alternative financing market in the world. Data from Statista showed that figure is expected to increase 13% to $ 1.7 billion in 2023.

As the world’s second-largest alternative finance market, China is expected to reach a transaction value of $ 1.6 billion over the next two years, up from $ 0.15 billion in 2021.

However, statistics show that Israel, as the third largest market, is expected to experience even greater growth, with deal values ​​increasing by 30% over the next two years and reaching $ 1.33 billion.

The UK and the Netherlands rank in the top five, with $ 1.1 billion and $ 0.7 billion in transaction value by 2023, respectively.

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Eye-Net launches a pilot project with a Japanese multinational Tue, 20 Jul 2021 12:20:00 +0000

The Eye-Net ™ Protect accident prevention solution will be tested for integration into a car-to-everything middleware platform

Ness Ziona, Israel –News Direct– Foresight Autonomous Holdings Ltd.

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, today announced that its wholly-owned subsidiary, Eye-Net Mobile Ltd., has launched a pilot project with the IT subsidiary of a multinational corporation. several billion dollars. A Japanese company will test its solution for the prevention of vehicle accidents at all (V2X) based on the Eye-Net ™ Protect cellphone. The pilot project will evaluate Eye-Net’s solution for possible integration as an application layer into the Japanese company’s car-to-everything (C2X) platform to create potentially safer driving environments.

Eye-Net Protect

This additional pilot project expands Eye-Net’s business in the automotive market, potentially allowing the Japanese company to expand its communication capabilities to include more vulnerable road users such as pedestrians and cyclists, in addition drivers.

“Eye-Net continues its efforts and activities to establish its position in the automotive market, offering an accident prevention software solution that can be used either as a stand-alone product or as an application layer on platforms. existing forms. We believe the start of a fourth pilot project in Japan indicates a vote of confidence in the Japanese market and demonstrates a real need for a readily available solution that provides real-time pre-collision alerts and has the potential to save lives. . We believe that the current pilot project will open up new collaborative opportunities for Eye-Net in the V2X cellular market, ”said Dror Elbaz, COO and Deputy CEO of Eye-Net Mobile.

For more information on Eye-Net Mobile, please visit, or follow the Company’s LinkedIn page, Eye-Net Mobile; Twitter, @ EyeNetMobile1; and the Instagram channel, Eyenetmobile1, the content of which is not included in this press release.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as “expects”, “anticipates”, “intention”, “plans”, “believes”, “research”, “estimates” and similar expressions or variations of these words are intended to identify forward-looking statements. For example, Foresight uses forward-looking statements in this press release when it explains that the pilot will be used to evaluate Eye-Net’s solution for possible integration as an application layer to the platform. form C2X of the Japanese company, the belief that the fourth pilot project in Japan indicates a vote of confidence from the Japanese market and demonstrates a real need for a readily available solution that provides real-time pre-collision alerts and has the potential to save lives, and that the current pilot project will open up new collaborative opportunities for Eye-Net in the cellular-V2X market. Because these statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties, and the actual results, performance or achievements of Foresight could differ materially from those described or implied by the statements contained in this press release. Forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Foresight’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 30, 2021 and in any subsequent filing with the SEC. Unless otherwise required by law, Foresight does not undertake to issue revisions to these forward-looking statements to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unforeseen events. References and links to websites have been provided as a convenience, and information contained on such websites is not incorporated by reference in this press release. Foresight is not responsible for the content of third party websites.

About foresight

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company that develops intelligent software solutions for multispectral vision and cellular applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “line of sight” vision systems and “beyond the line of sight” accident prevention solutions. Foresight’s vision solutions include automatic calibration, sensor fusion, and dense 3D point cloud modules that can be applied to various markets such as automotive, defense, autonomous vehicles and industrial equipment. heavy. Eye-Net Mobile’s suite of cellular solutions provides real-time pre-collision alerts to improve road safety and situational awareness for all road users in the urban mobility environment by incorporating technology cutting-edge AI and advanced analytics. For more information on Foresight and its wholly owned subsidiary, Foresight Automotive, visit, follow @ ForesightAuto1 on Twitter, or join Foresight Automotive on LinkedIn.

Contact details

Investor Relations Contact

Miri Segal-Scharia, CEO, MS-IR LLC

+1 917-607-8654

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