According to The Australian Financial Review today, Luxury Hotel Group, The Langham, is looking at more properties in Australia as it tries to grow its brand to capture North American baby boomers, its global chief executive says.
Langham Hospitality Group global chief executive Robert Warman said the company would love to have a property in north Queensland and Perth. "I'd love to have a resort up near the Great Barrier Reef because we have a huge market from China and we hope to have something there very soon," Mr Warman said. "We've also been looking in Perth. We would very much like to grow in Australia. It's a matter of getting the opportunities." Occupancy rates for the group's two hotels, Melbourne and Sydney, have doubled in the past year, Mr Warman said. Mr Warman said the company was shifting away from the owner-occupier model to managing hotels under The Langham brand. "Up until a few years ago we really were mostly a company that owned and operated. We have found that over the past couple of years more and more of our customers have asked us to get in more locations so it wasn't feasible at growing at this rate owning all our hotels. For the first time in the last 12 months we have managed a few hotels in China for someone else using The Langham name." He said this is particularly the case with the group's new brand of hotels, Cordis, which will open its first hotel open in Mongkok, Hong Kong in August, in what was the Langham Place, with another five to be announced. Mr Warman said the brand was less rigid and formal than The Langham offering, aimed at the business traveller and families. He said the new brand, which is yet to be launched in Australia, had the ability to grow faster than The Langham. "It's a little more accessible to more people," he said. "Once we open the Mongkok Cordis we will actively pursue opportunities outside the Hong Kong and Chinese markets." Ref: http://www.afr.com/business/tourism/the-langham-sizes-up-great-barrier-reef-perth-20150730-gil2jn If you want to read this article in Japanese, please see the following link: http://www.j-abc.com/jp-blog/67
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According to The Australian Financial Review, Wood Mackenzie is forecasting total traded volumes of thermal coal will increase to about 1.6 billion tonnes by 2035, up 60 per cent from 950 million tonnes in 2015.
In metallurgical coal it is forecasting an "enormous requirement" for new projects by the end of the decade resulting in a spike in prices above $US140 to revive investment in new projects, which has stalled. "It's a pretty bright light, but unfortunately it's a pretty long tunnel," Wood Mackenzie senior coal analyst Robin Griffin said. "But we think there are rewards for those that are able to withstand the downturn." The unexpectedly slow rate of closures of loss-making mines in China means the market for thermal coal may not get back into balance until 2022, leaving seven years before prices recover to about $US80 a tonne, on Wood Mackenzie's forecasts. For metallurgical coal, used in steel production, the consultancy's outlook is only slightly less bleak, with supply and demand returning to balance in about 2020. IHS's price forecasts are more positive, predicting thermal prices will recovery to just under $US110 a tonne by about 2020 and metallurgical coal would recover to just short of $US200 a tonne. "We think that this year will market the bottom of the cycle: I am hoping so because we simply cannot continue as we are," IHS senior manager Marian Hookham said. Still, demand forecasts still point to a major opportunity for coal longer term, with energy demand expected to more than double across Asia over the next 15 years. "Even with quite substantial assumptions around renewables growth, nuclear, hydro, gas … there is a place for coal and coal will grow substantially too, more than doubling in terms of its demand to the power sector," Mr Griffin said. Ref: http://www.afr.com/business/mining/coal/china-may-further-toughen-restrictions-on-coal-imports-wood-mackenzie-says-20150728-giltfv If you want to read this article in Japanese, please see the following link: http://www.j-abc.com/jp-blog/66 A major Japanese telecommunications company, NTT, to offer home aid service featuring talking robot29/7/2015 
According to The Nikkei Asian Review today, a Japanese telecommunications company, Nippon Telegraph and Telephone, will team with unit NTT Data to launch a new service employing a desktop robot that can talk and communicate with smart devices around the house, the Japanese companies said Tuesday.
They plan to target elderly care facilities initially and aim to get the service up and running by March next year. The robot, which is called Sota and can engage in some light conversation, was developed by Osaka-based Vstone. In a demonstration at a news conference Tuesday, Sota was connected to a television, blood pressure monitor and other devices, creating a so-called Internet of Things network. Weighing about 1kg, the robot is portable even for the elderly. At 28cm high, it is best positioned off the ground, on a table or desk. The robot will likely be priced at 100,000 yen (US$ 805). Service prices for home use are seen starting as low as several thousand yen a month. In the demonstration, Sota asked, "How are you?" and said "let's measure blood pressure." It continued, "Use that blood pressure monitor, and I will dim the light so you can relax." The lighting then darkened. The results were then displayed on a TV and tablet computer. Soto commented, "The blood pressure is a little too high. Let's cut back on sodium this month." Sota can also turn on air conditioners and urge someone to drink more water based on body temperature and heart rate measured via smart sensors and wearable devices. NTT's voice recognition and speech synthesis technologies are used to convert conversation into data on a cloud computing system, which in turn will send commands wirelessly to devices. NTT Data will develop apps and handle coordination control. "We hope to offer convenient services so that every household gets [a robot]," said Shintaro Watanabe, head of technological development at NTT Data. No other companies offer this type of service, according to Katsuhiko Kawazoe of NTT. Ref: http://asia.nikkei.com/Tech-Science/Tech/NTT-to-offer-home-aid-service-featuring-talking-robot If you want to read this article in Japanese, please see the following link: http://www.j-abc.com/jp-blog/-nttiot 
According to The Australian Financial Review today, Citibank's Australian operation will launch a new financial technology accelerator program, which will include a developers challenge to connect the global investment bank with new tech talent and disruptive ideas.
Citi will host an Asia-Pacific digital acceleration program in November that will see Australian developers competing against others in Hong Kong, Singapore and Bangalore for a share in $100,000, mentoring and the opportunity to integrate their product or services into Citi's operations. Citi Australia's managing director of customer franchise, Linda Duncombe, said the program was designed to ensure Citi was tapping into emerging trends. "Our core competency is banking and we're learning very quickly that the best part of innovating is about having the right partnerships, and we're looking forward to working with the local start-up scene to do that," Ms Duncombe said. The program is focused on mobile banking, and Ms Duncombe said Citi was particularly interested in software solutions that made banking easier to do online. The Citi Mobile Challenge has been run in other regions, including the United States and Latin America as well as a combined region that includes Europe, the UK and the Middle East, known as EMEA. While it may be cheaper to partner with a rising technology company, the program does not come cheap. "It costs us a lot of money to put on something like this," Ms Duncombe said. "It's a major investment for us and we've set aside money in next year's budget for this event to ensure we can follow through." Ref: http://www.afr.com/technology/citi-australia-launches-citi-mobile-challenge-asiapacific-20150727-gil19r If you want to read this article in Japanese, please see the following link: http://www.j-abc.com/jp-blog/65 
According to The Asahi Shimbun, Japanese researchers said they have found a way to eliminate cells derived from induced pluripotent stem (iPS) cells that have a high risk of becoming cancerous, a development that could lead to clinical applications of iPS cells.
“It is a totally new method that can remove cells that could turn cancerous,” said Kenichiro Kosai, a professor of gene therapy and regenerative medicine at Kagoshima University. “The technique could be used for clinical purposes in the field of regenerative medicine.” Cells that can develop into various types of tissue, such as iPS cells and embryonic stem (ES) cells, are believed to be able to cure certain diseases if they are introduced in the body after converting them into a specific tissue. But pluripotent cells that fail to differentiate into a specific tissue are more likely to become cancerous, posing a grave problem for the clinical use of those cells. Kosai and colleagues studied a gene known as survivin, which is activated in cancer cells. They discovered that survivin is also activated in iPS cells and ES cells that fail to develop into other cells. The researchers created strains of a genetically modified virus that can proliferate and kill cells that contain survivin. Seven days after the modified virus was introduced into undifferentiated iPS cells and ES cells, all those cells died. Meanwhile, cells that had turned into the specific tissue survived the introduction of the virus. The research team presented its findings at a conference of the Japan Society of Gene Therapy on July 25 in Osaka. Ref: http://ajw.asahi.com/article/sci_tech/medical/AJ201507220030 If you want to read this article in Japanese, please see the following link: http://www.j-abc.com/jp-blog/-ips One of the major Japanese newspaper companies, Nikkei, to acquire the Financial Times in UK24/7/2015 
According to The Nikkei Asian Review today, Nikkei Inc. announced Thursday it has agreed to acquire all the shares in Financial Times Group from U.K. education company Pearson for 844 million pounds ($1.3 billion). By integrating the time-honored FT brand into the group, Nikkei aims to advance its global and digital growth strategy.
Pearson's board agreed to the deal Thursday. The price includes FT's cash holdings of 19 million pounds, so Nikkei will pay 825 million pounds. It will be one of the largest-ever acquisitions by a Japanese media company. The FT was established in 1888. It is one of the most influential business media companies in the world. The Nikkei, established in 1876, is strengthening its global coverage, with a heavy focus on Asia, through the Nikkei Asian Review. By sharing personnel, knowledge and their long histories, the companies aim to become an unprecedented global economic media player. The FT is a pioneer in digital reporting and has more than 500,000 digital subscribers -- more than 70% of its total subscription base. The Nikkei has 430,000 digital subscribers. Economic and business news is expected to gain more prominence in the digital age. By making use of their strengths in digital media, the two companies intend to undertake a range of major projects. Tsuneo Kita, chairman and CEO of Nikkei, said: "I am extremely proud of teaming up with the Financial Times, one of the most prestigious news organizations in the world. Our motto of providing high-quality reporting on economic and other news, while maintaining fairness and impartiality, is very close to that of the FT. We share the same journalistic values. Together, we will strive to contribute to the development of the global economy." John Fallon, Pearson's chief executive, said: "Pearson has been a proud proprietor of the FT for nearly 60 years. But we've reached an inflection point in media, driven by the explosive growth of mobile and social. In this new environment, the best way to ensure the FT's journalistic and commercial success is for it to be part of a global, digital news company. "Pearson will now be 100% focused on our global education strategy. The world of education is changing profoundly and we see huge opportunity to grow our business through increasing access to high-quality education globally. "Nikkei has a long and distinguished track record of quality, impartiality and reliability in its journalism and global viewpoint. The board and I are confident that the FT will continue to flourish under Nikkei's ownership." Ref: http://asia.nikkei.com/Business/Companies/Nikkei-to-acquire-the-Financial-Times 
According to The Nikkei Asian Review today, Panasonic has developed a solar panel with an industry-leading energy-conversion efficiency of 22.5% and plans to have a commercial version ready for homes in 2016. Panasonic's new home solar panels will have the industry's best energy-conversion efficiency.
The Japanese company already boasts a leading 30% share of the domestic market for home solar panels, but it faces intensifying competition from rival domestic makers. Panasonic's new solar panel is more efficient at converting sunlight to electricity than the best-performing products now in mass production for homes. That will help it stave off advances from Japanese rivals like Kyocera and Sharp, which are strengthening their presence in this high-margin sector as foreign makers drive down prices related to mega-solar power plants. Solar panels are made from arrays of solar cells, and last year Panasonic developed a solar cell with an industry-leading conversion efficiency of 25.6%. Panels have lower efficiency than individual cells because energy is lost in the process of extracting electricity from the cells. To boost the efficiency of its new solar panel, Panasonic modified the connection components and electrode materials for the cells and adopted a new structure that reduces reflection of sunlight. U.S. company SunPower has developed a solar panel with an efficiency of 22.4%, but it has not yet moved into commercialization. Most solar panels available in Japan have efficiencies of around 20%. Panasonic manufactures solar cells at four main factories worldwide. The company plans to invest nearly 10 billion yen ($80 million) to boost its domestic production capacity by around 10% to more than 1 million kilowatts by fiscal 2016. It will move quickly into mass production of the new panels. Panasonic's overall solar-cell business generated an estimated 150 billion yen in sales in the year ended March, up more than 20%. Home solar panels accounted for 85% of that total, and thanks to the high margins in this sector, the segment's operating margin exceeded 10%. Ref: http://asia.nikkei.com/Business/Companies/Panasonic-readies-cutting-edge-solar-panels-for-homes 
According to The Australian Financial Review, food manufacturers will be required to include new country-of-origin food labels that will include a bar-chart displaying what proportion of the ingredients is locally grown.
The labelling system, which arose from the outcry earlier this year over hepatitis associated with imported Chinese frozen berries, is expected to cost manufacturers and consumers $37 million to introduce. Stock displaying the code is expected to be on supermarket shelves later this year. Government opinion polling found more than 80 per cent of consumers were willing to pay 1¢ extra on a $5 food item to ensure accurate labelling. Of those, more than 50 per cent were willing to pay an increase of 5 per cent in food costs to ensure better labelling. The cost of the new system will be met by consumers who, the government estimates, will see a 1¢ increase on a $5 food item, or 0.5¢ increase on a $2.50 food item. "I should point out that there are already significant labelling costs on Australian businesses as Australian businesses are already required to have the nutritional information," Australian Prime Minister, Tony Abbott, said. The new government label will include the existing green-and-gold kangaroo and triangle "Australian made" icon, with a bar chart showing what proportion of the ingredients is from Australia. It will distinguish between products using overseas ingredients and packed in Australia. For example, "Made in Australia from 100 per cent Australian ingredients", "Packed in Australia, Made in Canada" and "Made in Australia from Australian carrots and French peas." The initial rollout of the scheme will be voluntary so there could be changes on supermarket shelves later this year. However, the Commonwealth will need the agreement of the states and territories to go ahead with the mandatory new rules in 2016. Ref:http://www.afr.com/news/policy/country-of-origin-food-labelling-to-cost-37m-20150721-gigz4l
According to the Australian Financial Review today, the possibility of driverless cars in Australia has cleared a major hurdle to becoming a reality with automated vehicles due to hit the streets of Adelaide in November as part of the country's first-ever road trials.
The trials follow a collaboration between car manufacturer Volvo and technology partners Telstra and Bosch. They will be co-ordinated by the Australian Road Research Board and supported by the South Australian government. ARRB managing director Gerard Waldron said the trials were to promote the emerging industry of driverless cars to attract the funding and interest required to make it happen in Australia. Many cars on the market already had driverless car features, such as automated parking and Mr Walton believed it would take less than three years for driverless cars to be roaming the streets in Australia, and another 10 years before car companies were mass producing vehicles without steering wheels. "This trial presents a fantastic opportunity for South Australia to take a lead nationally and internationally in the development of this new technology and open up new opportunities for our economy," South Australian Premier Jay Weatherill said. The trial will take place around Tonsley Innovation Park, the Southern Expressway and at Adelaide Airport, using Volvo XC90 cars. The Adelaide trials will be on November 7 and 8 as the race for a driverless car reality revs up. Similar trials had already been held in the United States, Britain and Sweden. Earlier this week, a group of companies led by Toyota invested $10 million to develop a testing ground for driverless cars at the University of Michigan in Detroit. Volvo and Toyota were not the only car manufacturers vying for the driverless vehicle market. Audi would have a driverless A8 luxury limousine available by 2017 and Nissan announced plans to sell driverless cars by 2019. Ford also intended to sell "fully autonomous vehicles" by 2020. But the traditional car manufacturers would also face steep competition from technology giant Google, which had been investing hundreds of millions into self-driving cars for years. Ref: http://www.afr.com/technology/driverless-cars-to-hit-the-road-in-adelaide-test-20150721-gigzpm 
According to The Australian Financial Review today, an Echo Entertainment-led consortium has turned the tables on James Packer's Crown Resorts by winning a $2 billion bid to build a casino resort in Brisbane's Queen's Wharf precinct.
Queensland Premier Annastacia Palaszczuk said the Echo bid was the stand-out because of the better use of public space and because the consortium was ready to start straight away. "This development will transform Brisbane's CBD. Construction means thousands of jobs. Some 3000 during construction and 8000 ongoing jobs," Ms Palaszczuk said on Monday after cabinet signed off on the bid. "We are very excited about this proposal and what it means for Brisbane – making it a premium tourist destination." Echo is developing the project with Hong-Kong based business partners Chow Tai Fook and Far East Consortium. Collectively it is known as the Destination Brisbane consortium. State Development Minister Anthony Lyneham said the Echo proposal won them over because it had more open space – room for about 26,000 people – and a greater variety of accommodation, with four, five and six-star hotels. The trio plans to build a new casino, retail and entertainment complex on the banks of Brisbane River, next to Echo's dated Treasury Casino, opening in 2022. Construction of the project is due to begin by late 2016. Ref: http://www.afr.com/business/gambling/echo-entertainment-wins-2b-bid-to-build-brisbane-casino-20150720-gig108 |
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