Major International Business Headlines Brief::: 08 March 2021

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com
<mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments
<https://bullszimbabwe.com/category/blogs/bullish-thoughts/> Bullish
Thoughts        <http://www.twitter.com/BullsBears2010> Twitter
<https://www.facebook.com/BullsBearsZimbabwe> Facebook
<http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn
<https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp
<mailto:info at bulls.co.zw?subject=Unsubscribe> Unsubscribe

 


 

 


Major International Business Headlines Brief::: 08 March 2021

 


 

 


 <https://www.nedbank.co.zw/> 

 


 

 


ü  China says manufacturing 'greatness' still 30 years away

ü  Aston Martin's electric sports models to be made at Gaydon plant

ü  Virgin sues partner over claims about its brand value

ü  'Deepfake is the future of content creation'

ü  Deliveroo to hand riders up to £10,000 in UK float

ü  Cumbria shellfish producers call for water grading change

ü  Brent jumps past $70 for first time since pandemic began after Saudi
facilities attacked

ü  Shares falter as tech skids, yields and oil ring inflation alarm

ü  Game of drones: Chinese giant DJI hit by U.S. tensions, staff defections

ü  GE nears deal to combine aircraft-leasing unit with AerCap: WSJ

ü  COVID-19 travel insurance becoming a vacation staple

ü  Chinese beauty app Meitu shares surge after cryptocurrency investment

ü  Uganda: Schools, Universities Urged to Exploit Digital Learning

 

 

 


 <https://www.facebook.com/Hyundaizimbabwe/> 

 


 

China says manufacturing 'greatness' still 30 years away

China is at least 30 years away from becoming a manufacturing nation of
"great power", a government advisor told party delegates on Sunday.

 

Many observers already see China as the "world's factory" given that more
than a third of global output from cars to phones comes from there.

 

But China's leaders are concerned about its heavy dependence on the US for
high-tech products like semiconductors.

 

"Basic capabilities are still weak" Miao Wei warned on Sunday.

 

"Core technologies are in the hands of others" and China runs the risk of
"being hit in the throat" warned Mr Miao, who was Minister of Industry and
Information Technology for a decade.

 

He is now a member of the Chinese People's Political Consultative Conference
(CPPCC), the top advisory body to the government.

 

Although China still produces a significant amount of consumer and
industrial products, its manufacturing output as a share of its economy has
declined.

 

Last year, manufacturing accounted for slightly over a quarter of Gross
Domestic Product (GDP), the lowest level since 2012.

 

"The ratio of manufacturing output to GDP has been declining too early and
too quickly" Mr Miao said in a speech to CPPCC delegates at the Great Hall
of the People in Beijing.

 

"China's manufacturing industry has made great achievements in recent years,
but the situation of being big but not strong and comprehensive but not good
has not been fundamentally changed," Mr Miao added.

 

Tech battle

China also laid out its draft economic plan for the next five years. It
wants to speed up the development of advanced technologies from chips to
artificial intelligence.

 

The initiatives follow repeated blocks on China's access to US technology
under the Trump administration. Chinese companies such as Huawei have been
cut off from buying critical components.

 

Establishing its own world-class domestic chip makers has become a top
priority for Chinese leaders.

 

Its five-year plan targets seven strategic areas considered essential to
national security and includes AI, quantum computing, neuroscience and
aerospace.

 

The blueprint reiterates China's desire to increase competitiveness in
aircraft development, robotics and new-energy vehicles.--BBC

 

 

 

Aston Martin's electric sports models to be made at Gaydon plant

Luxury car giant Aston Martin has pledged to manufacture all of its electric
cars in the UK from 2025.

 

As first reported in the Financial Times, owner Lawrence Stroll said all of
its battery sports cars will be made at its plant in Gaydon, Warwickshire.

 

Its electric SUV models will be made at St Athan in Glamorgan, he confirmed.

 

The company is due to start making hybrid versions of its cars over the next
four years, followed by battery-only models.

 

A growing number of car makers have said they are moving away from petrol
and diesel engines, including Jaguar Land Rover, which announced last month
its Jaguar brand will be all-electric by 2025.

 

It comes as the UK government plans to ban the sale of new petrol and diesel
cars from 2030.

 

Aston Martin is not going quite as far and said it would continue to make
traditional engines for car enthusiasts.

 

Luxury car brand Bentley Motors, owned by Germany's Volkswagen, said in
November its range will be fully electric by 2030, and General Motors said
in January it aimed to have a zero tailpipe emission line-up by 2035.

 

Earlier this week, Mr Stroll told the BBC electrification would not be a
problem for the company as the technology could be brought in from
Mercedes-Benz, which Aston Martin has a technical partnership with.

 

Mercedes also has a 20% stake in Aston Martin, and Mr Stroll told the
Financial Times the partnership put the firm "way ahead of our rivals".

 

Aston Martin employs about 2,500 people in Gaydon and St Athan, although it
is not clear whether the announcement would mean changes for workers.

 

It announced 500 redundancies last year as the impact of coronavirus hit car
makers.--BBC

 

 

 

Virgin sues partner over claims about its brand value

Sir Richard Branson's Virgin Enterprises is suing a US rail company for
$251m (£182m) over its decision to drop the Virgin name from its trains.

 

It had a 20-year licensing deal which allowed Brightline to rebrand as
Virgin Trains USA in exchange for royalties.

 

Virgin claims Brightline is reneging on the agreement by spuriously claiming
the Virgin name has been damaged.

 

The suit said Brightline claimed Virgin is no longer “a brand of
international high repute" following the pandemic.

 

Virgin said it has maintained its status as an internationally reputed
brand, and described the allegation that the Virgin brand had been damaged
as "cynical and spurious".

 

In 2018, Virgin struck the licensing deal with Brightline, which operates a
train service between Miami and West Palm beach in Florida, with plans to
extend the line to Orlando, the home of Disney World.

 

Its existing service was suspended in March 2020, and isn’t expected to
resume until later this year.

 

Brightline is also planning a route between Apple Valley, near Los Angeles
and Las Vegas.

 

Difficult year for Virgin

The train operator first signalled it might scrap the deal in April, when
the Covid-19 pandemic hit the Virgin Group’s travel-focused businesses.

 

Virgin Atlantic airlines cut thousands of jobs as part of a $1.7bn rescue
plan.

 

Mr Branson even offered to use his luxury island resort as collateral to
help secure state aid for Virgin Atlantic.

 

The group also delayed the launch of its first cruise ship, and its gyms and
hotels were closed.

 

Virgin contends that Brightline cannot lawfully scrap the contract until
2023 at the earliest, and even then it would have had to pay an exit fee.

 

The company is suing for $251.3m, which it claims would cover the royalties
it should have received up to this date, plus the early termination
fee.--BBC

 

 

 

'Deepfake is the future of content creation'

A few months ago, millions of TV viewers across South Korea were watching
the MBN channel to catch the latest news.

 

At the top of the hour, regular news anchor Kim Joo-Ha started to go through
the day's headlines. It was a relatively normal list of stories for late
2020 - full of Covid-19 and pandemic response updates.

 

Yet this particular bulletin was far from normal, as Kim Joo-Ha wasn't
actually on the screen. Instead she had been replaced by a "deepfake"
version of herself - a computer-generated copy that aims to perfectly
reflect her voice, gestures and facial expressions.

 

Viewers had been informed beforehand that this was going to happen, and
South Korean media reported a mixed response after people had seen it. While
some people were amazed at how realistic it was, others said they were
worried that the real Kim Joo-Ha might lose her job.

 

MBN said it would continue to use the deepfake for some breaking news
reports, while the firm behind the artificial intelligence technology -
South Korean company Moneybrain - said it would now be looking for other
media buyers in China and the US.

 

When most people think of deepfakes, they imagine fake videos of
celebrities. In fact, only last week one such bogus - but very lifelike -
video of Tom Cruise made headlines around the world after it appeared on
TikTok.

 

Despite the negative connotations surrounding the colloquial term deepfakes
(people don't usually want to be associated with the word "fake"), the
technology is increasingly being used commercially.

 

More politely called AI-generated videos, or synthetic media, usage is
growing rapidly in sectors including news, entertainment and education, with
the technology becoming increasingly sophisticated.

 

One of the early commercial adopters has been Synthesia, a London-based firm
that creates AI-powered corporate training videos for the likes of global
advertising firm WPP and business consultancy Accenture.

 

"This is the future of content creation," says Synthesia chief executive and
co-founder Victor Riparbelli.

 

To make an AI-generated video using Synthesia's system you simply pick from
a number of avatars, type in the word you wish for them to say, and that is
pretty much it.

 

Mr Riparbelli says this means that global firms can very easily make videos
in different languages, such as for in-house training courses.

 

"Let's say you have 3,000 warehouse workers in North America," he says.
"Some of them speak English, but some may be more familiar with Spanish.

 

"If you have to communicate complex information to them, a four-page PDF is
not a great way. It would be much better to do a two or three-minute video,
in English and Spanish.

 

"If you had to record every single one of those videos, that's a massive
piece of work. Now we can do that for [little] production costs, and
whatever time it'll take someone to write the script. That pretty much
exemplifies how the technology is used today."

 

Mike Price, the chief technology officer of ZeroFox, a US cyber-security
company that tracks deepfakes, says their commercial use is "growing
significantly year over year, but exact numbers are difficult to pin down".

 

However, Chad Steelberg, chief executive of Veritone, a US AI technology
provider, says that the increasing concern about malicious deepfakes is
holding back investment in the technology's legitimate, commercial use.

 

"The term deepfakes has definitely had a negative response in terms of
capital investment in the sector," he says. "The media and consumers,
rightfully so, can clearly see the risks associated.

 

"It has definitely hindered corporations as well as investors from piling
into the technology. But I think you are starting to see that crack."

 

New Tech Economy

New Tech Economy is a series exploring how technological innovation is set
to shape the new emerging economic landscape.

 

Mike Papas, chief executive of Modulate, an AI firm that allows users to
create the voice of a different character or person, says that firms in the
wider commercial synthetic media sector "really care about ethics".

 

"It amazing to see the depth of thought these people put into it," he says.
"That has ensured that investors also care about that. They're asking about
ethics policies, and how you're thinking about it."

 

Lilian Edwards, professor of law, innovation and society at Newcastle Law
School, is an expert on deepfakes. She says that one issue surrounding the
commercial use of the technology that hasn't been fully addressed is who
owns the rights to the videos.

 

"For example, if a dead person is used, such as [the actor] Steve McQueen or
[the rapper] Tupac, there is an ongoing debate about whether their family
should own the rights [and make an income from it]," she says.

 

"Currently this differs from country to country."

 

Deborah Johnson, professor of applied ethics, emeritus, at the University of
Virginia, recently co-wrote an article entitled "What To Do About
Deepfakes?".

 

She says: "Deepfakes are part of the larger problem of misinformation that
undermines trust in institutions and in visual experience - we can no longer
trust what we see and hear online.

 

"Labelling is probably the simplest and most important counter to deepfakes
- if viewers are aware that what they are viewing has been fabricated, they
are less likely to be deceived."

 

Prof Sandra Wachter, a senior research fellow in AI at Oxford University,
says that deepfake technology "is racing ahead".

 

"If you watched the Tom Cruise video last week, you can see how good the
technology is getting," she says. "It was far more realistic than the
President Obama one from four years ago.

 

"We shouldn't get too fearful of the technology, and there needs to be a
nuanced approach to it. Yes there should be laws in place to clamp down on
bad and dangerous things like hate speech and revenge porn. Individuals and
society should be protected from that.

 

"But we shouldn't have an outright ban on deepfakes for satire or freedom of
expression. And the growing commercial use of the technology is very
promising, such as turning movies into different languages, or creating
engaging educational videos."

 

One such educational use of AI-generated videos is at the University of
Southern California's Shoah Foundation, which houses more than 55,000 video
testimonies from Holocaust survivors.

 

Its Dimensions In Testimony project allows visitors to ask questions that
prompt real-time responses from the survivors in the pre-recorded video
interviews.

 

Mr Steelberg says that in the future such technology will enable
grandchildren to have conversations with AI versions of deceased elderly
relatives. "That's game changing, I think, for how we think about our
society."-BBC

 

 

 

Deliveroo to hand riders up to £10,000 in UK float

Deliveroo will reward its busiest riders with bonuses of up to £10,000 when
the food delivery firm lists its shares on the London Stock Exchange.

 

Riders who have delivered the most orders will share in a £16m fund, the
company said.

 

Deliveroo will also open the flotation to its customers who can buy up to
£1,000 worth of shares in the firm.

 

The company is expected to be valued at around $7bn (£5bn) when it floats
but it is yet to make a profit.

 

In its most recent financial results for the year to 31 December 2019, sales
rose by 62% to £771.7m.

 

However, pre-tax losses also grew from £243.3m to £317.7m.

 

Demand for takeaway meals has soared during the coronavirus pandemic, after
lockdown measures were first implemented a year ago and restaurants have
been forced to close.

 

"A year of various lockdowns has fuelled demand for companies like
Deliveroo," said Russ Mould, investment director at AJ Bell.

 

Restrictions on hospitality businesses will start to ease on 12 April.

 

But Mr Mould said: "There is an expectation that habits formed during the
pandemic will remain long into the recovery.

 

Payments

Deliveroo, which was founded in 2013, confirmed that it will list its shares
in London.

 

As part of the flotation, riders in its 12 markets who have worked with the
firm for at least a year will be paid a bonus of either £10,000, £1,000,
£500 and £200 depending on the number of orders they have delivered.

 

Deliveroo also said it would make £50m worth of shares available to
customers who would be able to register their interest via the company's
app.

 

It said that if demand for shares was high, Deliveroo would prioritise
existing "loyal customers". But it added that it would "make sure a mixture
of new and existing customers benefit".

 

Deliveroo founder and chief executive Will Shu, said: "Far too often normal
people are locked out of initial public offerings and the only participants
are the institutional investors.

 

"I wanted to give as many customers as possible the chance to become
shareholders."

 

Listing rules

Deliveroo's decision to list in London was revealed as a
government-commissioned review of the UK's listing rules recommended a
number of measures to make the country a more attractive place for companies
to float.

 

The review, led by former European Commissioner Lord Hill, recommended
allowing two different classes of shares with differential voting rights.

 

It gives founders more power in making key decisions.

 

Major tech companies such as Facebook and Google-owner Alphabet have so
called dual-class shares.

 

Deliveroo confirmed it intends to use the same structure when it floats on
the London Stock Exchange.--BBC

 

 

 

Cumbria shellfish producers call for water grading change

Shellfish companies in Cumbria are calling on the government to change the
monitoring system that grades the county's fishing waters.

 

Since 1 January British fishermen have been unable to sell live, untreated
shellfish caught in the UK's Class B waters to the European Union (EU).

 

The government said it was seeking "an urgent resolution on this matter".

 

Steve Manning, who fishes from Flookburgh, said the UK could use EU testing
regimes instead.

 

"We think they do it probably on a daily basis whereas our results are taken
over 12 month to two-year periods," he said.

 

Heavy rainfall and farm muck spreading washed contaminants into Morecambe
Bay, bringing down the whole year's classification, he said.

 

 

Sarah Horsfall from the Shellfish Association of Great Britain said EU
countries classified their waters "very differently" from the UK.

 

"If other countries can do it a different way, which doesn't cause any issue
under the legislation, that allows their industry to operate in a more
flexible way, then why shouldn't we do it?" she said.

 

Pressure could be put on the government to clean up UK coastal waters to
"get them into a classification A", Mr Manning said.

 

"Everybody else seems to be able to do it except the UK," he said.

 

As an EU member Britain was exempt from rules for third countries requiring
mussels, oysters, clams, cockles and scallops from waters lower than Class A
to be pre-treated before export.

 

The government assured the industry current restrictions would end on 21
April but it became clear in February they were permanent.

 

It said it was "willing to provide additional reassurances to demonstrate
shellfish health within reason, but this must recognise the existing high
standards and history of trade between us".

 

Exporters said pre-treatment was expensive and shortened shelf-life, making
sales commercially unviable.--BBC

 

 

 

Brent jumps past $70 for first time since pandemic began after Saudi
facilities attacked

SINGAPORE (Reuters) - Brent crude futures surged above $70 a barrel on
Monday for the first time since the COVID-19 pandemic began, while U.S.
crude touched its highest in more than two years, following reports of
attacks on Saudi Arabian facilities.

 

Brent crude futures for May hit $71.38 a barrel in early Asian trade, the
highest since Jan. 8, 2020, and were at $71.11 a barrel by 0255 GMT, up
$1.75, or 2.5%.

 

U.S. West Texas Intermediate (WTI) crude for April rose $1.60, or 2.4%, to
$67.69. The front-month WTI price touched $67.98 a barrel earlier, the
highest since October 2018.

 

Asian stocks also rose after the U.S. Senate approved a $1.9 trillion
stimulus bill while positive economic data from the United States and China
bode well for a global economic rebound.

 

Yemen’s Houthi forces fired drones and missiles at the heart of Saudi
Arabia’s oil industry on Sunday, including a Saudi Aramco facility at Ras
Tanura vital to petroleum exports, in what Riyadh called a failed assault on
global energy security.

 

“We could see further upside in the market in the near-term, particularly as
the market probably now needs to be pricing in some sort of risk premium,
with these attacks picking up in frequency,” ING analysts said in a report,
noting that this was the second attack this month following an incident in
Jeddah on March 4.

 

Brent and WTI prices are up for the fourth consecutive session after OPEC
and its allies decided to keep production cuts largely unchanged in April.

 

Despite fast-rising crude prices, Saudi Arabia’s oil minister has voiced
doubts on demand recovery.

 

“The decision to keep quotas unchanged signals the group’s intent to
drawdown inventories further, without concern of overtightening the market,”
ANZ analysts said in a note.

 

“It also suggests they see little threat from rising output elsewhere.”

 

However, the energy minister in the world’s third-largest crude importer,
India, said higher prices could threaten the consumption led-recovery in
some countries.

 

Higher prices have also encouraged U.S. energy firms to add oil and natural
gas rigs for a second week in a row, energy services firm Baker Hughes Co
said on Friday.

 

 

 

 

Shares falter as tech skids, yields and oil ring inflation alarm

SYDNEY (Reuters) - Share markets turned mixed on Monday as the U.S. Senate
passage of a $1.9 trillion stimulus bill augured well for faster global
economic growth, but also put fresh pressure on Treasuries and tech stocks
with lofty valuations.

 

The upbeat economic news continued as China’s exports surged 155% in
February compared with a year earlier when much of the economy shut down to
fight the coronavirus.

 

“With the Senate’s passage, we expect growth momentum to accelerate and
forecast global GDP growth will surge to a 7.5% annualised rate in the
middle quarters of the year,” said JPMorgan economists in a note.

 

“Every $1 trillion of fiscal stimulus adds around $4-$5 to EPS, implying
6-7% upside for the remainder of the year.”

 

However, analysts also expected a sharp acceleration in inflation, stoked in
part by the latest spike in oil prices, which was pushing up bond yields and
stretching equity valuations, particularly in the high tech space.

 

That saw Nasdaq futures reverse early gains to slip 1.0%, dragging S&P 500
futures down 0.2%.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan followed with a
fall of 0.5%, while Chinese blue chips shed 0.9%.

 

Japan’s Nikkei clung to a gain of 0.2%, while EUROSTOXX 50 futures were
still up 0.8% and FTSE futures 0.9%%.

 

Equity investors had taken heart from U.S. data showing nonfarm payrolls
surged by 379,000 jobs last month, while the jobless rate dipped to 6.2% in
a positive sign for incomes, spending and corporate earnings.

 

U.S. Treasury Secretary Janet Yellen tried to counter inflation concerns by
noting the true unemployment rate was nearer 10% and there was still plenty
of slack in the labour market.

 

Yet yields on U.S. 10-year Treasuries still hit a one-year high of 1.625% in
the wake of the data, and stood at 1.59% on Monday. Yields increased a hefty
16 basis points for the week, while German yields actually dipped 4 basis
points.

 

The European Central Bank meets on Thursday amid talk it will protest the
recent rise in euro zone yields and perhaps mull ways to restrain further
increases.

 

The diverging trajectory on yields boosted the dollar on the euro, which
fell away to a three-month low of $1.1892, and was last pinned at $1.1904.

 

BofA analyst Athanasios Vamvakidis argued the potent mix of U.S. stimulus,
faster reopening and greater consumer firepower was a clear positive for the
dollar.

 

“Including the current proposed stimulus package and further upside from a
second-half infrastructure bill, total U.S. fiscal support is six times
greater than the EU recovery fund,” he said. “The Fed is also supportive
with U.S. money supply growing two times faster than the Eurozone.”

 

The dollar index duly shot up to levels not seen since late November and was
last at 92.057, well above its recent trough of 89.677.

 

It also gained on the low-yielding yen, reaching a nine-month top of 108.63,
and was last changing hands at 108.41.

 

The jump in yields has weighed on gold, which offers no fixed return, and
left it at $1,705 an ounce and just above a nine-month low.

 

Oil prices were up the highest levels in more than a year after Yemen’s
Houthi forces fired drones and missiles at the heart of Saudi Arabia’s oil
industry on Sunday, raising concerns about production.

 

Prices had already been supported by a decision by OPEC and its allies not
to increase supply in April. [O/R]

 

Brent climbed $1.44 a barrel to $70.80, while U.S. crude rose $1.36 to
$67.45 per barrel.

 

 

 

 

Game of drones: Chinese giant DJI hit by U.S. tensions, staff defections

SHENZHEN, China (Reuters) - Chinese drone giant DJI Technology Co Ltd built
up such a successful U.S. business over the past decade that it almost drove
all competitors out of the market.

 

Yet its North American operations have been hit by internal ructions in
recent weeks and months, with a raft of staff cuts and departures, according
to interviews with more than two dozen current and former employees.

 

The loss of key managers, some of who have joined rivals, has compounded
problems caused by U.S. government restrictions on Chinese companies, and
raised the once-remote prospect of DJI’s dominance being eroded, said four
of the people, including two senior executives who were at the company until
late 2020.

 

About a third of DJI’s 200-strong team in the region was laid off or
resigned last year, from offices in Palo Alto, Burbank and New York,
according to three former and one current employee.

 

In February this year, DJI’s head of U.S. R&D left and the company laid off
the remaining R&D staff, numbering roughly 10 people, at its flagship U.S.
research centre in California’s Palo Alto, four people said.

 

DJI, founded and run by billionaire Frank Wang, said it made the difficult
decision to reduce staffing in Palo Alto to reflect the company’s “evolving
needs”.

 

“We thank the affected employees for their contributions and remain
committed to our customers and partners,” it said, adding that its North
American sales were growing strongly.

 

“Despite misleading claims from competitors, our enterprise customers
understand how DJI products provide robust data security. Despite gossip
from anonymous sources, DJI is committed to serving the North American
market.”

 

It did not comment on the other U.S. staff departures that current and
ex-employees spoke of, although it told Reuters last year its global
structure was becoming “unwieldy to manage”.

 

DJI, which has become a symbol of Chinese innovation since it was founded in
2006, is one of dozens of companies caught in the crossfire of trade and
diplomatic hostilities between Washington and Beijing, like Huawei and
Bytedance.

 

Staff sources and competitors say the company’s brand reach, technical
know-how, manufacturing might and sales force mean it won’t lose its crown
anytime soon in the multi-billion-dollar U.S. and global markets for
non-military drones.

 

But a December order adding the company to the U.S. Commerce Department’s
“Entity List” along with the closure of its R&D operation in California
could affect its ability to serve the needs of U.S. customers, according to
three former senior executives and two competitors.

 

The Commerce Department listing, enacted over allegations including DJI
enabled “high-technology surveillance”, prohibits the company from buying or
using U.S. technology or components.

 

The same month, Romeo Durscher, DJI’s U.S.-based head of public safety, who
had played a central role in building the company’s business in providing
drone technology to non-military U.S. government departments and agencies,
left his job.

 

Durscher, a former NASA project manager and an influential figure in the
drone industry, now works at Swiss company Auterion, a competitor to DJI.

 

He said he left DJI because he was disheartened by the staff cuts and what
he described as internal power struggles between the U.S. team and its China
headquarters. He added that the U.S. reorganisation complicated the task in
dealing with the fallout from U.S.-China tensions and winning government
business.

 

“It’s not an easy decision to leave the market leader that’s really far
ahead of everyone else,” said Durscher, who joined DJI in 2014. “But those
internal battles were distracting from the real purpose and in 2020 it got
worse ... we lost tremendous talent at DJI and that’s very unfortunate.”

 

Privately held DJI doesn’t publish sales figures. The U.S. Department of
Defense estimated the American non-military market was worth $4.2 billion
last year. Consultancy DroneAnalyst said DJI controlled almost 90% of the
consumer market in North America and over 70% of the industrial market.

 

The December listing by the Commerce Department, and the prohibition on
buying U.S. parts, may impact the firm’s mobile apps, web servers and some
battery and imaging products, said David Benowitz, head of research at
DroneAnalyst and a senior figure with DJI’s enterprise team, which works
with industrial customers, in Shenzhen before he left last summer.

 

DJI said in December that the ban would not affect U.S. customers’ ability
to buy and use its products.

 

The listing followed other official blows. In October, the U.S. Department
of the Interior said it would only buy drones from companies okayed by the
Department of Defense, which last August published a list of five approved
drone suppliers to the federal government - four American and one French.

 

DJI said there was no “broad-based U.S. government ban on purchasing DJI
drones”.

 

“Congress considered that approach last year and rejected it, because ...
such a ban would be challenging for many companies and government bodies
that rely on drones,” it added.

 

‘WE’RE STILL PRIMITIVE’

 

Benowitz said persisting U.S.-China tensions and the push by Washington to
support DJI’s rivals could see the company’s North American market share
decline. He added that, while the federal government comprised a relatively
small part of DJI’s business, its restrictions could have a “chilling
effect”, with other buyers worried about tougher measures in the future.

 

“We’re at a point where there are too many market opportunities for one
player to dominate,” he said.

 

Yet he added alternatives to DJI were relative minnows, though both policy
support and security concerns over Chinese drones had brought them growth in
the last year. Competitors to DJI include France’s Parrot and
California-based Skydio.

 

Chris Roberts, CEO of Parrot Inc, Americas, said 2020 had been a significant
year for the company in the United States, having been named an approved
supplier by the Defense Department and won business from emergency services
and security agencies.

 

Skydio announced $170 million in D-round funding last week and said it had a
valuation of over $1 billion.

 

“DJI makes good hardware but we are still very early in the market, and very
primitive compared to what ultimately should exist,” Skydio CEO Adam Bry
told Reuters.

 

PHANTOM DRONE FLEETS

When Durscher joined DJI back in 2014, the company’s Phantom series was
transforming drones from a niche hobby to a mainstream gadget. He said he
was particularly drawn by the chance to bring drones into the kit of fire
and rescue departments.

 

He said the technological advances of smaller rivals in the last year were
tempting for some public-safety agencies, who might say “let’s go with this
drone now so we don’t have to deal with the data security”.

 

He added that change could come as government departments and companies
looked to replace drone fleets that are nearing the end of their life
cycles.

 

A fleet is typically expected to last three to four years, according to
Benowitz.

 

Durscher and several other staff compared DJI’s internal rivalry over
projects to “Game of Thrones”, the TV series where rival factions vie for
power. He said this resulted in a rotating door of Shenzhen bosses, and that
he reported to 12 different managers in his six years at the company.

 

Durscher’s departure from DJI followed those of other key executives in
North America last year, including director of business development Cynthia
Huang.

 

Huang, who now works with Durscher at Auterion, said she became increasingly
frustrated because she felt DJI wasn’t able to meet all the growing demands
of the enterprise market. Additionally, she said, job cuts over the past
year added to the reasons she decided to leave. The losses in Palo Alto,
Burbank and New York had followed cuts made to DJI’s global sales and
marketing teams, which Reuters reported in August.

 

“Some of the people that we lost in those layoffs, it didn’t make sense,”
said Huang, who was hired in 2018 to take the lead in building DJI’s
enterprise business in North America. “The continued exodus of talent was
discouraging.”

 

 

 

GE nears deal to combine aircraft-leasing unit with AerCap: WSJ

(Reuters) - General Electric Co is nearing a $30 billion-plus deal to
combine its aircraft-leasing business with Ireland’s AerCap Holdings NV, the
Wall Street Journal reported on Sunday citing people familiar with the
matter.

 

Details of how the deal would be structured was not immediately known, but
an announcement is expected Monday, assuming the talks don’t fall apart, the
WSJ said.

 

The unit, known as GE Capital Aviation Services, or GECAS, is one of the
world’s biggest jet-leasing companies and leases passenger aircraft made by
companies including Boeing Co and Airbus SE . It owns, services or has on
order about 1,650 aircraft, according to its website.

 

GE said the company doesn’t comment on rumor or speculation, while AerCap
did not immediately respond to Reuters’ request for comment.

 

 

 

COVID-19 travel insurance becoming a vacation staple

(Reuters) - COVID-19 insurance policies are increasingly joining passports
and sunscreen as vacation staples, creating opportunities for insurers as
more countries require mandatory coverage in case visitors fall ill from the
coronavirus.

 

Airline bookings are on the rise in some regions, driving cautious hopes of
a revival in summer traffic, but also raising fears among tourist
destinations of getting hit with bills should vacationers become stranded by
the virus.

 

More than a dozen countries from Aruba to Thailand require COVID-19 coverage
for visitors, with Jordan the latest to consider such protections,
organizers of an emergency services plan told Reuters.

 

The market for all types of COVID-19 travel coverage is estimated to be
between $30 billion to $40 billion a year, according to travel insurance
consultant Robyn Ingle, with companies like AXA and AIG underwriting
protection.

 

But a surge in demand for COVID-19 coverage also means insurers could be on
the hook for big payouts should another wave of infections lead to large
numbers of cancellations or tourists getting sick.

 

“Travel insurance and protection services are taking off at pace with travel
as it resumes, said Dan Richards, chief executive for travel risk and crisis
management firm Global Rescue.

 

COVID-19 insurance benefits typically cover treatment up to $100,000, and
could include coronavirus testing costs and services like evacuation or
local burial or cremation. These benefits, introduced by insurers in
mid-2020, are sold either as add-ons or as separate policies with coverage
for illness or quarantine.

 

Jeremy Murchland, president of Indiana-based travel insurance company Seven
Corners, said travelers are now “more likely to insure their trips,” as more
countries require COVID-19 coverage.

 

A travel insurance plan that includes trip protection, medical expense
coverage for COVID-19 and protection for baggage and personal effects
typically costs 4% to 8% of the dollar value of the trip, Murchland said.

 

While the pandemic has battered travel, demand for coverage has created
opportunity for the hard-hit insurance industry and a niche to develop new
products, companies said.

 

For example in June, Seven Corners introduced an optional medical travel
plan with coverage for coronavirus expenses, Murchland said. By year’s end,
the product with coronavirus coverage generated about 80% of total medical
travel plan sales.

 

Seven Corners also saw a 20% rise in travelers buying highly priced “cancel
for any reason” policies in 2020. The policies cover cancellation costs
related to the virus.

 

Some countries have mandated travel insurance for incoming visitors – either
by including it in their entry or visa fees or by requiring proof of
coverage, said insurer World Nomads.

 

Jordan is evaluating whether to require a mandatory flat fee for visitors as
part of a program from Global Rescue and the Global Travel and Tourism
Resilience Council, said council co-chair Taleb Rifai. The program, which
costs up to $100 per person, covers certain disasters and illnesses like
COVID-19.

 

Jordan’s Tourism Bureau was not available for comment.

 

It is not clear how coverage demand will evolve as many more people become
inoculated against the coronavirus with vaccines.

 

Frank Comito, a special advisor to the Caribbean Hotel and Tourism
Association, said some budget travelers have complained about mandatory
coverage. And some countries could discontinue or relax the requirement as
“we move away from the pandemic.”

 

Rifai, former secretary general of the UN’s World Tourism Organization, said
he expects countries will continue requiring coverage as the vaccines “will
take years” to roll out globally.

 

 

 

 

Chinese beauty app Meitu shares surge after cryptocurrency investment

HONG KONG (Reuters) - Shares of Hong Kong-listed Chinese photo editing app
Meitu Inc rose as much as 14.4% on Monday morning after the company said it
had bought $40 million of cryptocurrencies.

 

The beauty-focussed technology firm said in a Sunday evening exchange filing
that it bought $22.1 million worth of Ether, the world’s second-largest
cryptocurrency by market capitalisation, and $17.9 million worth of Bitcoin
on March 5.

 

Meitu is the latest company to say it will hold cryptocurrencies as part of
its treasury operations. Last month, Tesla Inc revealed it had bought $1.5
billion of Bitcoin, which sent the token’s price up 20%.

 

Meitu said the purchase was partly for investment and partly as preparation
to enter the blockchain industry, and that it would finance it from its
existing cash reserves.

 

The company is evaluating the feasibility of integrating blockchain
technologies into its overseas businesses, which could include projects on
the Ethereum blockchain network.

 

Ether powers contracts and applications on the Ethereum network, and so
purchasing it was a “logical preparation”, the filing said.

 

Meitu’s shares pared gains and were last up 5%, outpacing a 0.5% rise in the
local benchmark index.

 

 

 

Uganda: Schools, Universities Urged to Exploit Digital Learning

Educational institutions have been advised to exploit the online mode of
learning as much as possible to prepare for other challenges to come.

 

The former executive director of the Uganda Bureau of Standards (UNBS), Dr
Ben Manyindo, said while online programmes are less costly, convenient and
offer flexibility, educational institutions must now learn to seize the
opportunity, to prepare for more challenges to come.

 

Dr Manyindo made the remarks while officiating the 22nd Graduation ceremony
of Ndejje University held virtually at the Ndejje Main campus in Luweero
District on Friday.

"With online education, you will be able to plan study time around the rest
of your respective engagements and at your convenience. This has worked well
for learners and institutions that were accredited for online learning," Dr
Manyindo said.

 

He added: "Some research carried out has already shown that this learning
mode is good but requires discipline, time management skills and stable
Internet that are a challenge in some areas."

 

The vice chancellor of Ndejje University, Prof Eriabu Lugujjo, said the
university is now using the experiences from the Covid-19 pandemic to
strategically model its operations, reviewing its policies, and adapting to
the current situation to ensure future sustainability.

 

"Like many other institutions that have been severely hit by the Covid-19
pandemic, our resolve is to come out as solution providers. The university
is modeling potential outcomes and we have now come up with the Covid-19
Business Resilience Plan that will ensure that mainstreaming of Open
Distance e-learning into the pedagogical system of the university," Prof
Ligujjo said.

He added: "We are, however, cautious and are not taking the hurried risks
that can compromise the quality of education in line with our known values
of offering quality but affordable education."

 

He also cautioned the community to be mindful of the looming full pandemic
aftermath likely to leave a range of legal turmoil in its wake from
suspended contracts and wages, among other challenges.

 

Prof Lugujjo presided over the function following the death of the
university's chancellor, Dr Kisamba Mugerwa, in January .

 

He is yet to be replaced.

 

MEASURES

 

E-learning

 

Many education institutions resorted to online learning following the
outbreak of the Covid-19 pandemic in March to try and keep learning ongoing.

 

Online learning has shifted the mode of teaching from the traditional
face-to-face interaction with positive results.- Monitor.

 


 


 


Invest Wisely!

Bulls n Bears 

 

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:         <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:
<https://bullszimbabwe.com/category/blogs/bullish-thoughts/>
www.bullszimbabwe.com/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2021

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


ART

PPC

Dairibord

 


Starafrica

Fidelity

Turnall

 


Medtech

Zimre

Nampak Zimbabwe

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and sourced from third parties.

 


 

 


(c) 2021 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:
<mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77
344 1674

 


 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210308/d65745a5/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210308/d65745a5/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 31039 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210308/d65745a5/attachment-0002.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.png
Type: image/png
Size: 184580 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210308/d65745a5/attachment-0004.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210308/d65745a5/attachment-0005.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 22328 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210308/d65745a5/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65561 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210308/d65745a5/attachment-0001.obj>