News In Brief

Welcome to our ‘News In Brief’ column in which we digest all the news releases for you in no more than five paragraphs.
Below are snippets of all the media releases we received from March 18 till the end of the week.
This article updates throughout the week.

ACCC Reviews Search Engines

Sydney, March 18: The Australian Competition and Consumer Commission (ACCC) is assessing the competitive landscape of general internet search services in Australia, focusing on the influence of international reforms, technological advancements, and trends in search quality.
As part of its ongoing digital platform services inquiry over five years, the ACCC has issued an issues paper today, inviting feedback from consumers, businesses, and industry stakeholders on competition levels and quality trends in search services.
This includes examining the effects of new choice screens and generative AI technologies.
ACCC Chair Gina Cass-Gottlieb highlighted the significant shifts in search services since 2021, driven by legislative changes abroad and technological innovations.
The ACCC aims to understand these developments’ impact on competition and consumer experience. Submissions are open until April 17 to insights on how these factors influence the search service market.

Cyclion’s Green Energy Venture

Sydney, March 18: Australian startup Cyclion partners with the Philippines’ National Development Company (NDC) to establish Cyclion Philippines, starting with a valuation over $10 million.
This joint venture aims to revolutionize waste-to-energy processes, starting with building the first processing plant in the Philippines by end of 2024.
The initiative aligns with both countries’ focus on sustainable development and clean energy, leveraging innovative technology that transforms household waste into valuable fuel without incineration, marking a significant step towards sustainability in waste management and energy production.

Climate Prep Lagging

Sydney, March 18: A study by global management consultancy Baringa reveals that merely two per cent of Australian financial services firms are adequately prepared for the upcoming mandatory climate disclosures in 2025.
The impending regulations, targeting amendments to the ASIC Act and Corporations Act, will necessitate large businesses and financial institutions to transparently report their climate change strategies alongside their financial statements.
The research, examining over 100 entities including ASX 200 companies and significant unlisted financial institutions, indicates a widespread lack of depth in current climate disclosures, with superannuation and asset management sectors notably lagging.
Insurers and smaller banks are particularly challenged by the requirements for climate transition metrics and detailed physical risk disclosures.
Baringa’s findings highlight a need for improved quantitative climate scenario analysis, enhanced systems and data for disclosures, and increased internal alignment and board-level training.
A Bill introducing these disclosure requirements is expected to be introduced in Parliament shortly, marking a significant shift in financial reporting standards and accountability for Australian companies.

CommBank-Smartgroup Team Up

Sydney, March 18: Commonwealth Bank (CommBank) and Smartgroup announced a collaborative effort to enhance financial benefits for Australian families, allowing them to maximize their pay.
Through this partnership, Smartgroup’s clientele will now have access to CommBank’s products and exclusive promotions, starting with 10 complimentary trades on the CommSec trading platform.
This initiative is aimed at providing Australians with additional financial tools to navigate the cost-of-living pressures more effectively.
Smartgroup, known for its salary packaging services, serves over 1.5 million Australians, offering them a pathway to leverage their earnings for greater wealth growth.
This agreement marks the start of a promising alliance focused on delivering greater financial benefits and accessible solutions to Australians.

Canon Continues Market Lead

Shah Alam, March 18: Canon Marketing Malaysia celebrates its continued market leadership, marking 28 years of dominance in the Inkjet printer segment and eight years in the Laser printer sector, as confirmed by IDC’s Worldwide Quarterly Hardcopy Peripheral Tracker for 2023.
Under the guidance of Sandy Lee, Head of Division, Personal System Devices, Canon has maintained its position by innovating and catering to both B2B and B2C markets with a broad range of printing solutions.
The company’s success is attributed to its commitment to quality, innovation, and understanding consumer needs, especially highlighted by the E series printers in the Inkjet segment and color multifunction printers in the Laser category.
Canon remains dedicated to advancing its technology and offerings, ensuring its legacy of excellence continues.

COMPAL Leads Satellite Innovation

Taipei, March 18: Compal Electronics Inc., in collaboration with Auden Techno Corp and ALifecom, will showcase next-generation satellite solutions at Satellite 2024 in Washington, DC, marking a significant leap towards the B5G Satellite-based Communication era.
The partnership aims to unveil innovative Module & Device solutions, addressing the SWaP challenge in LEO satellite communications with a new architecture.
COMPAL’s Hestia NTN dongle, a satellite IoT solution, ensures comprehensive compatibility and enhances operational efficiency in renewable energy markets.
This collaboration underscores a commitment to transforming satellite communications, offering enhanced connectivity for businesses and communities worldwide.

Gogoro Leads in Innovation

Taiwan, March 19: Gogoro, renowned for its sustainable urban mobility solutions, has been celebrated as Asia-Pacific’s top innovator of 2024 by Fast Company, and also secured the 37th spot globally among the most innovative companies.
This recognition is for its pioneering two-wheel battery swapping ecosystem and urban energy strategies, aiming to revolutionize city travel and energy use.
With a vast network supporting hundreds of thousands of vehicles and smart batteries, Gogoro is making significant strides in reducing CO2 emissions and promoting electric transportation.
Fast Company’s annual list highlights businesses at the forefront of global innovation.

Türk Telekom’s Network Leap

Ankara, March 19: In a pioneering move within Europe, Türk Telekom, in partnership with ZTE Corporation, has successfully conducted the first 3-in-1 50G PON Combo trial in Türkiye, marking a significant milestone in ultra-high bandwidth optical networks.
This collaboration showcases a technological breakthrough, achieving downstream speeds over 22 times faster than current GPON networks.
Conducted at the Türk Telekom Ankara Innovation Center, the trial integrates cutting-edge 50G PON Combo cards into existing networks, demonstrating Türk Telekom’s commitment to network excellence and future-ready connectivity solutions across Türkiye.

Ultrahuman Secures $35M Boost

Sydney, March 20: Ultrahuman, a leader in wearable technology, has announced a significant boost with a $35 million investment in equity and debt.
This Series B funding round saw contributions from several venture capital firms, including Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave, and Zomato founder Deepinder Goyal.
The funds will be utilized for expanding manufacturing capabilities and advancing research in health monitoring technologies.
With a focus on integrating a wide array of biomarkers through a diverse product range, Ultrahuman aims to offer a comprehensive overview of human health.
Their product lineup, including the Ring Air smart ring, the M1 Live glucose monitor, Ultrahuman Home, and Blood Vision, demonstrates their commitment to creating a unified health ecosystem. This platform, which integrates data on glucose levels, sleep patterns, physical activity, blood markers, and heart rate variability, positions Ultrahuman at the forefront of health technology.
Co-founder Mohit Kumar highlights the company’s ambition to dominate the smart ring market and achieve leadership in the health-tech industry. Ultrahuman’s innovative approach and rapid growth have already positioned it as a major player in the market, with a significant retail presence worldwide.
The company’s dedication to product excellence and customer satisfaction is evident in its continuous software updates and hardware innovations. With a projection to exceed $100 million in annual revenue run rate by the end of 2024, Ultrahuman’s strategy focuses on long-term investments in manufacturing and research and development. The recent completion of a clinical trial to validate its ‘Metabolic Score’ underscores Ultrahuman’s commitment to scientific validation and innovation.

AI Skills Gap Exposed

Sydney, March 21: Alteryx’s latest research highlights a significant misalignment in upskilling priorities among Australian business leaders, underscoring a potential roadblock in AI progress.
Despite recognizing the importance of critical thinking and creativity in an AI-driven future, only a fraction of decision-makers are prioritizing these soft skills in their hiring processes.
With 73 per cent of leaders concerned about the reliability of AI-generated answers, the lack of emphasis on necessary soft skills to question and work alongside AI systems poses a risk to leveraging AI’s full potential.
The report, “Defining the Enterprise of the Future,” urges a shift towards a more balanced approach in skill development, advocating for continuous investments in data literacy and creative problem-solving to navigate the evolving tech landscape effectively.

Spritzer’s Raya Extravaganza

Kuala Lumpur, March 21: Spritzer has unveiled its Raya 2024 campaign with celebrities Aina Abdul and Syafiq Kyle as its new ambassadors.
The duo stars in a lively music video, introducing “Tambah Spritzer Sparkling” to add zest to the festive season.
The campaign encourages breaking from tradition to embrace new experiences, from culinary adventures to fashion statements.
Highlighting the launch is the “Tropika Ros Sparkling” mocktail, featured in the video.
Fans can look forward to meeting Aina and Syafiq at a special event at IOI City Mall Putrajaya on March 30, 2024, promising performances, mocktail recipes, and a chance to interact with the ambassadors. Spritzer’s message is clear: stepping out of your comfort zone can make this Raya even more memorable.

Sabah Highlights Camping

Kuala Lumpur, March 22: Sabah promotes camping and adventure tourism at MATTA Fair 2024, focusing on “healing destinations”.
With 22 travel agents participating, the event showcases diverse sites and community-based tourism offerings.
Activities and consumer engagement, including a travel rebate, enliven the Sabah Pavilion.

Sarawak’s Bold Launch

Kuala Lumpur, March 23: The 54th MATTA Fair in Kuala Lumpur was the stage for Sarawak Tourism’s unveiling of its ‘Gateway to Borneo’ campaign, aiming to position Sarawak as the primary entry point to Borneo, enhancing its tourism appeal.
With a target of four million visitors in 2024, the campaign promises an immersive experience into Sarawak’s rich cultural and natural heritage.
The Sarawak Pavilion offered glimpses of local traditions, performances, and crafts, emphasizing the state’s commitment to sustainable tourism and cultural showcase.