Drone delivery system

- A + A HONG KONG/JOHANNESBURG (June 27): Prosus NV is planning to sell more of its US$134 billion stake in Chinese internet giant Tencent Holdings Ltd to finance a buyback programme, reversing a pledge to hold onto the full shareholding. Tencent declined in Hong Kong on Monday as investors pondered the extent to which Prosus, the Chinese company’s biggest shareholder, will unload its stock. The shares fell as much as 2.5% and traded 1.6% lower at the close. “We will keep selling Tencent shares to buy back our own, it’s open-ended and an unlimited programme,” Prosus Chief Executive Officer Bob Van Dijk said in an interview. “It’s actually a small part of Tencent daily traded volumes — it should be maximum between 3% to 5%.” The move represents a change of heart by Dutch e-commerce giant Prosus — majority owned by South Africa’s Naspers Ltd — which said after its last sale in April 2021 it wouldn’t offload more shares for three years. The company, spun off from … [Read more...] about Tencent backer Prosus to cut US$134 bil stake to buy stock

This article first appeared in The Edge Financial Daily, on March 31, 2020 . - A + A Euro Holdings Bhd (-ve) TRADING of shares in Euro Holdings Bhd (fundamental: 0.35/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the fourth time this year. The counter closed eight sen or 25.4% higher at 39.5 sen, with 11.04 million shares traded, over six times its 200-day average volume of 1.77 million shares. The group is principally engaged in the design, manufacturing and trading of its own brand of chairs, system furniture, storage and accessories. For the fourth quarter ended Dec 31, 2019, the group’s net loss almost doubled to RM4.18 million from RM2.18 million for the corresponding period last year, mainly due to higher cost incurred and a provision for late delivery by the property division. Quarterly revenue fell 32% to RM18.16 million from RM26.6 million, due to lower property completion rates and lower sales owing to … [Read more...] about Stock With Momentum: Euro Holdings

PM Modi addressing the Indian diaspora in Munich, Germany, on June 26 (Image: Twitter/@DDNews) India is leading the "way of innovation", with one unicorn emerging in the country at every 10 days, Prime Minister Narendra Modi said on June 26 in Germany's Munich, where he addressed members of the Indian community. "There was a time when India was nowhere in the race of startups. Today, we are the third-largest startup ecosystem. Similarly, we used to import even the simplest phones, today, we are the second-largest mobile phone manufacturer in the world," he said. "Not only this, in India, on an average, we have a ‘unicorn’ every 10 days," Modi added. The spirit of innovation is evident in all parts of the country, Modi claimed, noting that an average of 5,000 patents are filed every month in India. Also Read: Modi at G7 in Germany | Expectations from and support for India will rise rather than fall Close The country is also matching the pace of … [Read more...] about India leading the way of innovation, one unicorn coming up every 10 days: PM Modi in Germany

Battery Smart, a battery-swapping network for electric vehicles (EVs), has raised $25 million as a part of its Series A funding led by Tiger Global Management, the company said on June 27. Existing investors Blume Ventures and Orios Ventures also participated in the funding round. Battery Smart will use the funds to expand to new territories, strengthen its battery-assignment technology and build team to continue scaling operations, the New Delhi-based startup said in a statement. "With this investment, we are focused on bringing our offerings to even more EV users pan-India, by increasing the number of swap stations and continuing to partner with OEMs (original equipment makers) and fleet operators. We are also looking to strengthen our technology for effective network planning and make key hires in our growing team," Battery Smart co-founder Pulkit Khurana said. Battery Smart operates a "battery-as-a-service model" that enables interoperable battery swapping for EVs. It … [Read more...] about Tiger Global leads $25 million Series A round in Battery Smart

Kim Jong-jin The author is assistant director-general and regional representative of the Food and Agriculture Organization (FAO) of the United Nations. It wasn’t so long ago that internet connectivity faded the moment one left a populated area like a city or big town. “No service” was the take-away message back then. But thanks to 3G, 4G and now 5G mobile technology — and coupled with the widespread installation of cellular towers in rural areas across the country — the frustrating message shows up much less frequently. Most importantly, the rapid spread of internet connectivity and mobile telephony has resulted in countless opportunities to help address chronic problems such as poverty, malnutrition and inequality after the service reached into the most remote rural communities. From farmers to fishers to herders, digital technologies are increasingly relied upon to help transform and enhance livelihoods for hundreds of millions of people each day. From farmers with their … [Read more...] about Leaving no one behind in digitization

Jeong Jae-hong The author is an international affairs and security editor of the JoongAng Ilbo. Gustavo Petro was elected president of Colombia on June 19. According to an analysis in the Washington Post, Columbia, ruled by right-wing politicians over 200 years, elected a left-wing president because the middle-class collapsed due to the Covid-19 pandemic and voters wanted the government to ease economic inequality. Brazil is scheduled to have a presidential election on October 2, and leftist former president Luiz Inácio Lula da Silva, commonly known as Lula, is getting over 50 percent of support. In addition to Mexico, Argentine, Chile, Peru and Columbia, another left-wing administration is about to launch in Brazil, too The left-wing wave in Latin America largely resulted from right-wing administrations’ failure to cope with the pandemic and the collapse of the middle class in the region. The middle class is the bastion of democracy. A country with a strong middle class … [Read more...] about A class above all others

Divya Karyza (The Jakarta Post) PREMIUM Jakarta   ● Mon, June 27, 2022 The number of cold storage installations for the fishery sector is set to rise rapidly this year on increasing online orders for cool delivery and improving seafood production, but industry players need to anticipate rising installation costs. Cold Storage Association (ARPI) chairman Hasanuddin Yasni expects 32,000 tons of cold storage to be installed this year, up 50 percent from last year’s capacity increase, as the industry expands to accommodate growing production in the marine products and fishery sector. “New players that provide mini-middle cold storage have begun to emerge. This group is expected to provide 200 tons to 600 tons of cold storage,” Hasanuddin told The Jakarta Post on Thursday, adding that 60 percent of cold storage used in the fishery sector was for export purposes while the remaining 40 percent was used as a storage system to supply the domestic seafood processing … [Read more...] about Cold storage to grow 50% as fishery firms push for export markets