Media Focus on Multinational Corporations [2022.12.12]






Hisense Expands Its Global Influence with Cutting-Edge Technology

From the eye-catching FIFA World Cup LED perimeter board to the application of its intelligent transportation technology in Qatar, 'Hisense' elements shine everywhere in this year's FIFA World CupTM, highlighting the brand's prominent role in the world's biggest football tournament. Hisense, as a leading force in the home appliance industry and the Official Sponsor of FIFA World Cup 2022TM, has showcased its latest globalization achievement at this global sporting event. By making continuous progress in R&D and providing global consumers with first-tier products, Hisense is moving towards its goal of becoming an international corporation.

Over the past decades, Hisense's development paralleled the growth of Chinese manufacturing capability. At the start of the 21st century, Hisense realized the low profitability of 'OEM' and the necessity of building an independent R&D chain to propel the evolution of its manufacturing ability.

To achieve this agenda, Hisense has been heavily invested in its R&D practices. In 2007, Hisense was one of the first companies in the world to develop Laser TV technology, and has been trying to redefine the colour TV market with laser displays. By the end of November 2022, Hisense has applied for 1969 patents in terms of its laser display technology, becoming the largest patent holder in the Laser TV industry worldwide. In July 2022, Hisense Laser TV 100L9G was introduced into the FIFA headquarter. Hisense's compelling products and cutting-edge technology will provide football fans with an amazing viewing experience.

Relying on its strong expertise in picture processing technology, Hisense also launched its self-developed ULED technology in 2012, which marked a revolutionary breakthrough in picture quality. A decade has witnessed the resolution of Hisense ULED TV skyrocketing from 1080P to 8K, and owing to the company's continuous exploration and technological innovation, Hisense TV volume share of shipment has climbed from less than 5% to more than 12% in the past 12 years.

Today, Hisense's top-tier technology and all-around globalization layout have made it a highly-recognized international brand among customers worldwide. In the future, Hisense will adhere to its independent research and development efforts, and continue to provide global consumers with premium products, services, and experience.


Huawei helps enhance digital skills in Thailand

Huawei announced a partnership with several Thailand departments, higher education institutions and industry partners to exchange opinions and jointly formulate an ICT personnel development policy, which is about to be developed into a national master plan.

The partnership was announced Wednesday at the Thailand Talent Transformation Symposium in Bangkok, which is jointly organized by Huawei, Thailand Ministry of Digital Economy and Society (MDES), and Thailand Ministry of Higher Education, Science, Research and Innovation (MHESI).

In October, Huawei and the two ministries co-released a white paper on Thailand Digital Talent Development. According to the white paper, the digital economy will increase its contribution to 30 percent of Thailand's GDP by 2027.

The white paper is the basis of the renewed collaboration that will lead to the development of the national master plan for ICT skills development, in alignment with the 5th Digital Technology Development Master Plan (2022-27).

'Talent cultivation is no longer the responsibility of government or academia only. As a digital transformation enabler and social value contributor, Huawei is committed to do our part. By investing in digital talent development, we hope to foster a win-win and positive business ecosystem,' said Abel Deng, president of Huawei Asia-Pacific Carrier Business Department.

Over the past years, Huawei ASEAN Academy (Thailand) has helped develop more than 26,000 ICT personnel and partnered with 37 leading higher education institutions. Next year, it aims to train more than 10,000 digital youths, according to Deng.

At the symposium, Huawei and the two ministries also announced the opening of Huawei ICT Competition 2022-23 to develop ICT talent from Thai high schools and universities. The competition aims to sharpen the ICT knowledge of around 200 talented youths.


Ericsson and Apple sign global patent license agreement

Ericsson and Apple have reached a multi-year, global patent license agreement between the two companies. The agreement includes a cross-license relating to patented cellular standard-essential technologies and grants certain other patent rights.

Furthermore, Ericsson and Apple have mutually agreed to strengthen their technology and business collaboration, including in technology, interoperability and standards development.

This settlement ends the lawsuits filed by both companies in several countries, including in the United States District Court of the Eastern District of Texas, as well as the complaints filed before the United States International Trade Commission (USITC).

Ericsson's IPR licensing revenues continue to be affected by several factors, including expired patent license agreements pending renewal, the technology shift from 4G to 5G, and possible currency effects and geopolitical impact going forward. Including effects of the agreement with Apple covering sales from January 15, 2022, and including ongoing IPR business with all other licensees, Ericsson estimates the fourth quarter 2022 IPR licensing revenues will be SEK 5.5 - 6.0 b.

Christina Petersson, Chief Intellectual Property Officer at Ericsson says: 'We are pleased to settle the litigations with Apple with this agreement, which is of strategic importance to our 5G licensing program. This will allow both companies to continue to focus on bringing the best technology to the global market.'

Over several decades, Ericsson has been a leading contributor to 3GPP and to the development of global mobile standards for the benefit of consumers and enterprises everywhere. The value of Ericsson's patent portfolio of more than 60,000 granted patents is strengthened by our leading position as 5G vendor, and annual investments of more than USD 4 b in R&D. The company is confident of growing its IPR revenues with new 5G agreements and by expanding into other licensing areas long term.


Acer Reports November Consolidated Revenues at NT$ 18.91 Billion, Up 4.7% Month-on-month

Acer Inc. reports its November consolidated revenues at NT$18.91 billion, up 4.7% month-on-month. Its year-to-November revenues reached NT$252.54 billion, down 12.7% year-on-year (YoY). Businesses other than PCs and displays contributed 26.6% of November revenues. For year-to-November, this portion of business showed 11.7% growth YoY.

The company's focus on ESG (environment, social, governance) with its Vero line of eco-conscious products continues to gain momentum. The Vero business, which uses recycled materials, grew 43.4% YoY in November revenue. Other business highlights include:

Altos Computing Inc. revenues grew 137.5% year-to-November, YoY. AcerPure Inc. revenues grew 36.4% year-to-November, YoY.

The management's emphasis on reducing inventory levels and increasing net cash to weather industry headwinds is taking effect.


Twitter relaunching subscriber service after debacle

Twitter is once again attempting to launch its premium service, a month after a previous attempt failed.

The social media company said Saturday it would let users buy subscriptions to Twitter Blue to get a blue checkmark and access special features starting Monday.

The blue checkmark was originally given to companies, celebrities, government entities and journalists verified by the platform. After Elon Musk bought Twitter for $44 billion in October, he launched a service granting blue checks to anyone willing to pay $8 a month. But it was inundated by imposter accounts, including those impersonating Musk's businesses Tesla and SpaceX, so Twitter suspended the service days after its launch.

The relaunched service will cost $8 a month for web users and $11 a month for iPhone users. Twitter says subscribers will see fewer ads, be able to post longer videos and have their tweets featured more prominently.


SpaceX gives rival's internet satellites ride to orbit

SpaceX launched internet satellites for a competitor Thursday, stepping in to help after the London-based OneWeb company halted its flights with Russia over the invasion of Ukraine.

The Falcon rocket blasted off at sunset with 40 mini satellites bound for polar orbit. They will expand OneWebs constellation to just over 500, nearly 80% of the planned total of about 630 satellites.

Elon Musk's SpaceX has more than 3,200 Starlink satellites in orbit, providing high-speed, broadband internet to remote corners of the world. Amazon plans to launch the first of its internet satellites early next year from Cape Canaveral.

With the market for global internet service growing exponentially,” theres room for everyone, said Massimiliano Ladovaz, OneWebs chief technology officer.

SpaceX agreed to launch satellites for OneWeb after the British company broke ties with Russia in March. Russian Soyuz rockets already had launched 13 batches of OneWeb satellites, beginning in 2019.

India picked up the slack in October, sending up a batch of OneWeb satellites.

Although there were other launch options, SpaceX and India offered the fastest and best combination, Ladovaz said shortly before liftoff.

Two more SpaceX launches and one more by India are planned for OneWeb in the next several months to complete the company's orbiting constellation by spring. OneWeb already is providing internet service in Alaska, Canada and northern Europe; the newest satellites will increase the range to the entire U.S. and Europe, as well as large parts of Africa and South America, and elsewhere, according to Ladovaz.

OneWeb satellites — each about the size of a washing machine and weighing 330 pounds (150 kilograms) — are built at NASAs Kennedy Space Center through a joint venture with Frances Airbus.

Thursdays launch occurred just several miles away from the same pad where Apollo astronauts blasted off for the moon, the last time on Dec. 7, 1972.


Hithium and Sun Valley sign MOU to forge new strategic partnership

Xiamen Hithium Energy Storage Technology Co., Ltd ('Hithium') and the Sun Valley HK Group ('Sun Valley') signed a Memorandum of Understanding (MOU) for strategic cooperation on energy storage business in Australia.

The MOU is signed by Hong Chen, Managing Director of Hithium, and Mr. He, President of Sun Valley in Sydney landmark 5-star hotel Sheraton Hyde Park. The MOU signing ceremony is witnessed by Mr. Peter Hodge, Founder of BDO (global Top 5 accounting firm), Mr. Thomas Lee, Senior Partner of BDO, and Ms. Er, Customer GM of Sheraton Hyde Park. According to the agreement, Hithium and Sun Valley intend to explore various forms of cooperation on 8 solar farms projects under construction of totally about 200MW/400MWh and coming 400MW/800MWh projects in planning.

Sun Valley HK Group is a leading solar farm developer and highly committed to seeking innovative opportunities for solar and energy storage projects globally. By signing the MOU with Hithium, both parties will have a diversified and profound cooperation space in energy storage.

As demand for renewable energy increasing in Australia, energy storage continues to play an essential role in the power sector. Hithium places Australia as a significant market. This profound cooperation is with the intention to jointly build safer and more sustainable energy storage projects in Australia and reach a net-zero environment. On the basis of this MOU, Hithium will make full use of its capacity to innovate and deliver more energy storage projects in the near future.

By leveraging Hithium's cutting-edge energy storage products, Sun Valley's solar projects will reach new heights in terms of energy storage safety and sustainability. The cooperation will also enable Hithium to enhance its global footprint, especially in Australian market, and promote the application of its advanced energy storage technologies.



The Chairman and CEO of Piaggio & C. S.p.A. (PIA.MI), Roberto Colaninno, and the Vice General Manager of Foton Motor Group, Wang Shuhai, signed a preliminary agreement in Mantua for the development of a new range of four-wheel electric light commercial vehicles. The agreement consolidates the partnership set up by the two groups in September 2017 for joint development of innovative solutions for the light commercial vehicles market.

Over the coming months, a team of representatives from the two groups will work on the development and approval of a production and commercial plan and on the contractual documents with a view – in the event of a successful outcome of the above activities – to finalising the technical documentation for the project and the contracts by Spring 2023.

Sam's Club

Sam's Club extends its range of products in China

Sam's Club, Walmart Inc's high-end membership retail unit, which has heavily focused on food in the Chinese market, is now extending its range of consumer products wider to attract more mid-income family consumers.

In its past 26 years in the country, Sam's Club has differentiated itself by building a series of popular categories, including fresh food, snacks and bakery. Sam's Club has 41 stores in the country so far.

Recently, Sam's Club's has launched a campaign 'More than just delicacies' to further update while selecting a variety of international high-frequency consumer brands -- top players in each of their category, including Staub, Tom Ford and Marvis, in an effort to unlock more retail potentials.

With its strong international supply chain, the retailer is aiming to become a global buyer for its more than 4 million members in China, to help consumers save on most frequently-used products while exploring fresh experiences brought by new products, said the company.

Meanwhile, its private brand, the Members' Mark, has rolled out more tailor-made products, with quality control from design, production, distribution to display. For example, pet food and personal hygiene are two categories that Member's Mark has developed their products.

To further help integrate the online and offline shopping experience, consumers are able to order on its mobile application and on or scan the code at store for delivery services, said Sam's Club.


CNOOC Limited Announces Enping 15-1/10-2/15-2/20-4 Oilfields Joint Development Project Commences Production

CNOOC Limited (the 'Company', SEHK: 00883, SSE: 600938) announces today that Enping 15-1/10-2/15-2/20-4 oilfields joint development project has commenced production.

Enping 15-1/10-2/15-2/20-4 oilfields are located in the Eastern South China Sea, with an average water depth of around 90 meters. The main production facilities of the project include 2 drilling production platforms and 1 unmanned wellhead platform. 48 production wells are planned to be commissioned. The project is expected to achieve its peak production of approximately 35,500 barrels of crude oil per day in 2024.

Enping 15-1/10-2/15-2/20-4 oilfields joint development project employs the first newly built unmanned platform in the Eastern South China Sea, which has been equipped with the function of remote production under typhoon mode. At the same time, the project has planned 1 carbon dioxide gas injection well for reinjection and storage of carbon dioxide produced by the oilfields. It is the first offshore carbon capture and storage (CCS) demonstration project in China.

Mr. Zhou Xinhuai, CEO of the Company, said, 'The commissioning of Enping 15-1/10-2/15-2/20-4 oilfields joint development project marks a breakthrough for the construction of unmanned, less-manned and intelligentized offshore oilfields in China. And it is an important achievement of the green and low-carbon transition of offshore oilfields. In the future, CNOOC Limited will further enhance its capability of independent innovation, to increase oil and gas reserves and production, to accelerate the research and application of advanced technologies in energy conservation and emission reduction, thereby to contribute greater value to the high-quality sustainable development of the Company.'

CNOOC Limited holds 100% interest in Enping 15-1/10-2/15-2/20-4 oilfields joint development project and acts as the operator.

Universal Energy

Chinese company wins wind power bids in Kazakhstan

Universal Energy, a Chinese renewable energy company based in Shanghai, has won bids for four wind power projects in Kazakhstan, with a total capacity of 250 megawatts, in November.

A total of seven projects were put up for an online bidding in November with more than ten companies, including those from Kazakhstan, Russia and other European countries, bidding for each project.

The Chinese private company won four wind power projects with a total installed capacity of 250 megawatts, of which three projects are in northern Kazakhstan and one project is in the west of the country.

Universal Energy has been investing in renewable energy projects since 2015 in Kazakhstan where it has six renewable projects with a total capacity of 380 megawatts in commercial operation, generating electricity for more than 600,000 local households, reducing carbon dioxide emissions by 1 million metric tons every year.


Chevron to invest $4 billion in Permian in 2023 to boost US shale production

Chevron Corp. will allocate an extra $2 billion to capital expenditures next year as it weighs demands for higher investor returns amid calls from President for the U.S. energy industry to reinvest more profits in production.

The U.S. oil giant said on Dec. 7 it will spend $17 billion in 2023. Thats at the top end of the forecast range; its also 13% above what the company plans to spend this year.

The Permian will account for $4 billion of the total spending next year. Chevron is seeking to accelerate U.S. shale production, which is low-risk and offers quick financial returns compared with the multi-year megaprojects that dominated much of the last decade.

According to Chevron, spending in the basin assumes low double-digit cost inflation,” while global expenses are likely to rise in the mid-single digit percentages. Its low-carbon business will receive $2 billion, double the level this year.

Were maintaining capital discipline while investing to grow both traditional and new energy supplies,” Chief Executive Officer Mike Wirth said in a statement. Our capex budgets remain in line with prior guidance despite inflation.

Chevrons spending next year will be considerably above the pandemic years of 2020 and 2021, but still around half the $30 billion annual average of the 2012-2019 period.

Wirth has said Chevrons spending is much more efficient than in the past, meaning the company produces more oil per dollar invested. But it also comes amid intensifying focus on improving investor returns. Chevron is currently spending $6.5 billion a quarter on dividends and share buybacks, or $26 billion a year, well in excess of capital spending.

Chevrons shares were unchanged in after-market trading in New York on Wednesday, after closing at $172.52. They have gained 47% this year.


TotalEnergies plans to capture 1m T/Yr carbon in PNG megaproject

TotalEnergies plans to bury almost 1 million tonnes of carbon dioxide a year at its planned Papua LNG project, with the carbon capture and storage operation expected to be online from day one of gas production in late 2027.

At the Elk gas field in southern Papua New Guinea (PNG), carbon dioxide (CO2) in the gas reservoir will be pumped back into the ground during production. Once depleted, Elk will be used to store CO2 from the nearby Antelope reservoir.

A TotalEnergies executive said it was one of only a few projects to include carbon capture and storage from day one.

First announced in 2019, the 5.4 million tonnes per year liquefied natural gas (LNG) project is a joint venture between ExxonMobil, Santos and state-owned Kumul Petroleum Holdings Limited.

The first phase of engineering and design work began in July, and a final investment decision is on track for the end of 2023.

TotalEnergies country delegate for Australia and Papua New Jean-Francois Hery said the company planned to sell most of its gas allocation prior to the investment decision and was confident it would succeed.

'There's lots of appetite,' Jean-Francois Hery told Reuters on the sidelines of a conference on Tuesday.

While the project's carbon capture mechanism is being marketed to buyers, the gas is not currently being sold with an explicit low-carbon label, he added.

PNG is considered a prized location for delivering LNG to the top global LNG consumers - Japan and South Korea.

'We want to get the right price. Markets are going up. If you sell everything too quickly you might lose some premium.'


TotalEnergies and Air France-KLM agree sustainable jet fuel deal

TotalEnergies and Air France-KLM have signed a memorandum of understanding for the supply of so-called sustainable aviation fuel (SAF) over a 10-year period starting in 2023, the companies said.

The fuel will be produced by TotalEnergies at its biorefineries, the statement said, adding that sustainable aviation fuel would allow savings of at least 80 per cent of overall carbon emissions compared with conventional fossil fuels.

Under the deal, TotalEnergies will deliver more than one million cubic metres (mcm) or 800,000 tonnes of SAF, mainly for flights leaving from Air France-KLM's home countries France and the Netherlands.

In October the airline announced two binding contracts with Neste and DG Fuels for a total volume of 1.6 million tonnes as it seeks to diversify suppliers to reach its target of cutting CO2 emissions by 30 per cent from 2019 levels by 2030.


Energy transition needs materials transition: Aramco CEO

Aramco President and CEO Amin H Nasser has told a gathering of chemicals industry leaders that the global energy transition will not happen without a corresponding materials transition.

He made his remarks at the Gulf Petrochemicals and Chemicals Association Forum in Riyadh, which was inaugurated by HRH Prince Abdulaziz bin Salman, Minister of Energy, Saudi Arabia. Also in attendance were ministers, officials and senior industry executives including Olivier Thorel, Aramco Vice President of Chemicals.

The high-profile event heard how the chemicals industry must accelerate its innovation and technology programmes to maximise the development and penetration of advanced sustainable materials.

Setting out his vision for a viable materials transition (and the opportunities this presents for the chemical industry) Nasser explained why it is urgently needed to meet global net-zero emissions goals, and shared a threefold call to action.

First, the chemical industry needs to strengthen and accelerate its innovation efforts to develop more durable and more sustainable materials, at scale, while reducing their cost.

Second, establishing an advanced materials centre, here in the Kingdom, could strengthen and complement existing programmes and push the boundaries of innovation through global collaboration.

Third, the energy crisis is forcing many chemical companies to cut operations or shut down, particularly in Europe.

With an abundance of fuels and feedstocks, and extensive range of support infrastructure, it has never been more attractive for overseas chemical companies to invest here,” he said.


BP Is Betting Big On Green Hydrogen

UK supermajor BP sees low-carbon hydrogen as one of its key growth areas and is betting on green hydrogen to advance the energy transition and the decarbonization of energy-intensive industries, company executives told Reuters.

BP is currently in the early planning stage to set up a low-carbon hydrogen hub close to the Whiting, Indiana, refinery, Tomeka McLeod, the supermajors new head of hydrogen in the United States, told Reuters.

BP analysis shows that hydrogen could have around an 8% share in final energy consumption by 2050. When we include other hydrogen demand to produce synthetic fuels and generate power, total hydrogen demand nearly doubles,” Felipe Arbelaez, BPs Senior Vice President of hydrogen and CCUS, says.

To put that into context, this would be broadly similar to the share of the global energy mix that natural gas has today,” Arbelaez added.

BP says that hydrogen is one of its five energy transition growth engines.

BP has plans for more hydrogen and CCS in the United States and is also developing a major hub in the UK and studying the potential of hydrogen production in Mauritania.

In the U.S., BP and Linde plan to advance a major CCS project that will enable low-carbon hydrogen production at Lindes existing production facilities in the greater Houston area. The development will also support the storage of CO2 captured from other industrial facilities, paving the way for large-scale decarbonization of the Texas Gulf Coast industrial corridor, the supermajor says.

Last month, BP signed a Memorandum of Understanding (MoU) with the Government of Mauritania under which it will deliver a program exploring the potential for large-scale production of green hydrogen in the country.

In June this year, BP agreed to acquire a 40.5% equity stake in and to become operator of the Asian Renewable Energy Hub (AREH) in Western Australia, which, the firm says, has the potential to be one of the largest renewables and green hydrogen hubs in the world.

Petronas Carigali

Petronas Makes 'Significant' Oil & Gas Discovery Offshore Malaysia

Malaysian oil and gas company Petronas Carigali on Wednesday announced an oil and gas discovery at the Nahara-1 well in Block SK306, in Malaysia.

The discovery is located in the shallow waters of Balingian Province, about 150 kilometers from Bintulu, off the coast of Sarawak, offshore Malaysia.

'The Nahara-1 well was successfully drilled to a total depth of 2,468 meters and encountered hydrocarbon in the Late Oligocene to Middle Miocene aged sedimentary sequences. Light oil with minimal contaminants was also established after production testing was conducted for the well,' Petronas Carigali said.

Petronas Carigali is the block's operator, with a 100% participating interest in its production-sharing contract.

Petronas Vice President of Exploration, Mohd Redhani Abdul Rahman said, We are excited with this discovery and its impact to the future exploration effort in the surrounding areas. Nahara-1 is a significant oil discovery by PCSB within the last decade. It is a testament to the vast potential in Malaysias prolific basins, which remain highly prospective.

The discovery also reinforces PCSBs current exploration strategy of renewing focus on its exploration efforts in Malaysias basins,” he added.


Sempra Energy Strikes 15-Year LNG Supply Deal with France's ENGIE

Sempra Energy said on Tuesday it would supply about 0.875 million tonnes per annum (MTPA) of LNG to French power company ENGIE for 15 years from its proposed Port Arthur LNG project in Texas.

U.S. LNG companies have been exporting record volumes to the European Union following that reduced supplies in an already tight market.

Sempra said the deal provides a framework to explore ways to lower the carbon intensity of LNG produced at the project through emission reduction.

The Phase 1 of the project is expected to produce up to 13.5 MTPA of LNG, while the Phase 2 is under development.

Sempra aims to complete the remaining steps necessary to achieve a final investment decision for Phase 1 of the project in the first quarter of 2023.

Air Liquide

Air Liquide signs an agreement to divest its business in Trinidad and Tobago

Air Liquide announces that it has signed an agreement to divest its business in Trinidad and Tobago to Massy Gas Products Holding Ltd, said the company.

As a consequence of this divestiture, the approximately 30 employees of this business will be integrated within MGPHL. This transaction is part of Air Liquides strategy to regularly review its asset portfolio and focus on selected fast developing areas and activities.

Air Liquide is well-positioned to further grow its presence in Latin America where it intends to pursue the opportunities emerging with the clean energy transition, including hydrogen energy leveraging the area's abundant natural resources.

This agreement is subject to regulatory approvals of the Trinidad & Tobago Fair Trading Commission for completion and other customary closing conditions.


Amway launches Singapore Business Innovation Hub to accelerate health and wellness innovation

Amway, an entrepreneur-led health and wellness company, today announced the opening of its Singapore Business Innovation Hub in the Central Business District in partnership with the Singapore Economic Development Board (EDB), signaling its strategic expansion in the region.

Amway has been providing access to its health and wellness brands and empowering individuals through entrepreneurship opportunities in Singapore for over 20 years, and has been present in Asia for nearly 50. The new hub will allow Amway to tap into Singapore's rich talent base to accelerate and support product innovation for Amway globally – to meet both global and regional consumers' evolving wellness needs, and act as a springboard for the company's next stage of strategic growth in Asia.

As part of this expansion, Amway adds approximately 60 new jobs in the areas of Innovation & Science, Digital Technology, Data Science, Communications, Procurement, and Strategy & Corporate Development. These teams will focus on advancing scientific discovery and innovation, partnering with leading institutions to expand understandings of health and the human body, taking an 'East meets West' approach to healthy aging and longevity, and leveraging technology to design products that meet people's personalized wellness needs.

Corona Extra

Corona Extra makes good on its promise to clean up Chinese beaches

Corona Extra, a pale lager brand owned by AB InBev - the world's biggest brewer by production volume - announced that it has achieved its full-year sustainability pledge of collecting 145 metric tons of plastic waste from sea areas and beaches in China.

While plastic pollution has emerged as an increasingly severe global challenge with plastic waste becoming a key concern, Corona is committed to innovating ocean protection solutions. The brand had reached a collection of 155.42 tons, delivering the goal ahead of schedule and in greater quantity by Nov 1, according to a statement released by the company.

In the meantime, the brand joined hands with Living Fossil Studio, a ceramic designer and manufacturer, to launch 'Corona living bin', a new initiative aimed at raising people's awareness about the growing issue of plastic pollution at beaches. Artists have been invited to craft waste bins with various kinds of plastic waste including plastic bottles, fishing nets and buoys and place them on beaches for subsequent waste collection.

The statement said that the launch signifies another innovative attempt by Corona at localized ocean protection actions, which will continue to support the sustainable development of the local community.

Marine garbage pollution has become increasingly serious in the world over recent years, among which plastic waste has become one of the focus due to its long retention time and difficult treatment. According to a 2021 report by the United Nations Environment Program, between 23 million tons and 37 million tons of plastic waste ends up in the oceans each year.

For residents, surfers and tourists, the significance of Corona living bin is not just about providing people with places to dump garbage, but, more importantly, about rebuilding the close ties between people, plastic waste and community from a unique aesthetic perspective, said Matt Che, chief marketing officer of Hong Kong-listed Budweiser Brewing Co APAC Ltd, a part of AB InBev.

'In addition to plastic waste reduction along the supply chain, we hope to continuously engage consumers through various marketing innovations,' said Che.

New York Times

New York Times journalists, other workers on 24-hour strike

More than 1,000 New York Times journalists and other staff walked off the job for 24 hours Thursday, frustrated by contract negotiations that have dragged on for months in the newspaper's biggest labor dispute in more than 40 years.

Hundreds of reporters, editors, photographers and other employees picketed outside the newspaper's offices near Manhattan's Times Square. With a hollowed out newsroom, the Times was relying on international and non-union staffers to deliver content to its more than 9 million worldwide subscribers until the strike ends at 12:01 a.m. Friday.

The NewsGuild of New York went through with its pledge to strike after the two sides failed to reach a deal in marathon negotiations that broke off Wednesday evening. The sides remain far apart on issues including wages, remote work policies and a performance review system, which the union says is racially biased. The current contract expired in March 2021, and the union has accused the company of dragging its feet on negotiations.

I'm not angry. I'm just deeply disappointed in our company,' said Nikole Hannah Jones, a Pulitzer Prize-winning investigative journalist who spoke at the rally. You shouldn't have to struggle financially to work at a place like The New York Times no matter what your position is.

In an email to the newsroom, Executive Editor Joe Kahn said he was disappointed in the decision to strike when negotiations are not at an impasse, the Times reported in its own story on the walkout. Kahn said Thursdays report would be robust” but that producing it will be harder than usual.


Shanghai Disney Resort resumes full operations

The Disney Resort in Shanghai has fully resumed operations with the reopening of the Shanghai Disneyland on Thursday.

Shanghai Disneyland will be open from 8:30 to 20:00 on Thursday, and the resort's COVID-19 prevention and control measures will be updated according to the latest local government guidelines.

Certain attractions, live entertainment venues, restaurants, and stores may still be unavailable or operating at reduced capacity.