Latest news with #BOA
Forbes
5 days ago
- Business
- Forbes
Head's Endure Tennis Shoe Features Two BOA Fit Dials
The new Head Endure tennis footwear lineup. The BOA Performance Fit System is coming back to tennis footwear. And this time Head introduces two dials, a first in the world of tennis. The new Head Endure Pro BOA men's tennis shoe, launching July 17, brings two of BOA's fit-forming dials—instead of laces—to the shoe's upper to really personalize the fit. 'With the integration of the BOA Performance Fit System, featuring a dual Li2 dial configuration, we've brough a new level of precision to tennis footwear,' Carlos Lopez, Head's global product manager of footwear, tells me. 'This setup allows players to micro-adjust the fit in two distinct zones-down to the millimeter—for truly personalized support and pressure distribution.' The new Head Endure Pro BOA includes two BOA Fit dials for precise lockdown on the tennis court. It's about more than just personalization. 'The result is enhanced lockdown, better energy transfer and consistent comfort for every level of play,' Lopez says. The new Endure Pro BOA, priced at $199, becomes the pinnacle option within the Endure series and sits between Head's Revolt and Sprint offerings with its blend of speed, durability and stability, the brand says. Developed and tested at the BOA laboratories in the United States (and on tennis courts across the world), the Endure Pro BOA features two Li2 dials with a BOA PerformFit Wrap. Head says the side panels offer extra stability compared to lacing methods. 'It's a bold step forward that will reshape how players connect with their footwear on courts around the world,' Simon Brenneis, Head global business manager for footwear, tells me. The Head Endure Pro BOA is the first tennis shoe to feature dual BOA Fit dials. The Endure Pro BOA launches alongside the lace-up Endure Pro, a $169 model. Both shoes feature a new frame technology that uses a 3D TPU design for stability both from heel to toe and torsional stability. Integrated cooling in the frame enhances ventilation. DynaFoam on the heel ups the shock absorption, while Head added EVA foam in the forefoot for reactive energy. The PU-molded upper offers protection in specific areas and reduced material in others to keep the weight down. MORE: Head Releasing Signature Novak Djokovic 'Speed Legend' Racket Head will offer both shoes in a multi-surface rubber outsole and clay versions that feature an all-over herringbone tread. 'Our collaboration with BOA has been nothing short of exceptional,' Brenneis says. 'By uniting our expertise and shared drive for innovation, we've launched a product unlike anything tennis has seen before, setting a new standard in both performance and design.'
Business Times
6 days ago
- Business
- Business Times
Weak inflation in Thailand, Indonesia and Malaysia fuels deflation fears
[SINGAPORE] After years of stable inflation, Asean economies that once battled surging prices post-pandemic may now be facing the opposite threat of deflation as global trade tensions and slowing growth weigh on demand. Thailand's annual inflation in May reflected negative growth for the second straight month, the commerce ministry reported on Friday (Jun 6). The consumer price index fell 0.57 per cent, following a 0.22 per cent fall in April – the first two negative prints since March the previous year. 'Core inflation remains below target, reinforcing the presence of slack in the economy,' said Bank of America (BOA) emerging Asia economist Pipat Luengnaruemitchai in a report following April's data. Malaysia and Indonesia announced in May that core inflation growth rates had dropped to 1.7 per cent and 1.5 per cent, respectively, missing economists' expectations of 1.8 per cent and 2.3 per cent, respectively. Indonesia had already recorded falling prices in February, the first in 25 years, sparking concerns of weakening purchasing power in the country. The Philippines recorded a similar trend. Headline inflation in April fell 1.4 per cent on the year, its lowest level since October 2019. These patterns have stoked concerns that deflationary spirals – much like China's struggles as consumer demand stalls – may arise, eroding incomes and corporate profits. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up But fears of deflation may be premature, given that the disinflation is largely due to easing supply-side pressures and not weakening demand, believes Rahul Bajoria, Asean economist at BOA. 'Food and energy prices have come down, labour markets have cooled, and currencies have stabilised. All of this is translating into lower inflation,' he told The Business Times. Made in China Nevertheless, concerns are beginning to creep into Asean countries as global trade tensions rise. Nomura's chief Asean economist Euben Paracuelles told BT: 'There are signs of structural forces at play, particularly disinflationary pressures from China's overcapacity and influx into the region of cheaper imports which can accelerate if US tariffs remain high.' Bank of Thailand governor Sethaput Suthiwartnarueput warned on Jun 2 that diverted exports from China that had failed to enter the US may be dumped into Thai markets, Nikkei reported. He highlighted industries in furniture, textiles and apparel, plastics, petrochemicals and steel that would be particularly vulnerable, with small and medium enterprises and their employees facing threats. 'A sudden flood of Chinese imports into emerging market economies can be very disruptive,' said Nomura economists Rob Subbaraman and Chen Yiru. 'Faced with growing cut-throat import competition, the likely initial response by local firms would be to cut prices to maintain market share, but at the cost of reduced profits.' 'This can be good news for consumers but over time, as local firms accumulate financial losses, they would need to downsize, cut back on jobs and capex, and ultimately many may need to close down.' China's latest manufacturing data may suggest that these upcoming fears are not entirely misplaced. Caixin China's manufacturing purchasing managers' index, a private survey which tracks the business conditions in the sector, reported a score of 48.3 on May 31, missing analyst expectations and reflecting an unexpected contraction – the country's first since September 2024. 'Stocks of finished goods accumulated for the first time in four months,' Caixin's report found. 'Survey respondents indicated that this was due to both falling sales and delays in outbound shipments of products.' As inventories build, the tariffs may force producers to cut prices in export markets besides the US – possibly Asean countries. 'As China's producers will likely push excess capacity to the rest of the world, the spillover of China's deflationary pressures to the rest of Asia will worsen,' wrote Morgan Stanley economist Chetan Ahya in the bank's mid-year outlook for the region. Yet BOA's Bajoria does not think of such pressures as a novel shock. 'This is a latent risk that's not just appearing now; it's been the case going back five or 10 years in South-east Asia,' Bajoria noted. A study by Nomura of the phenomenon in April may support this idea, finding that Chinese dumping had already been present as far back as 2019. 'Most of the countries that have experienced a slowdown in manufacturing growth also have an increasing share of manufactured imports from China,' said Nomura economists Subbaraman and Chen, who authored the study. Among the countries ranking the highest in both categories were Asean economies Indonesia, the Philippines, Thailand and Vietnam. Nonetheless, Bajoria believes that it may be premature to condemn Chinese presence in the region as unwelcome as the benefits may outweigh the costs. 'While consumption and inflation are impacted, the Chinese have also been reasonably large investors into the region, which may balance out the dumping concerns,' he added. He noted that cheaper exports can also offset some disinflation concerns by enhancing consumer purchasing power. It may also be difficult to attribute cheaper imports to deflated prices, rather than more competitive products. 'In Thailand for instance, imports from China have increased in competitive sectors like automobiles,' he explained. Easing policy Regardless of the causes of Asean's slowing prices, the region's central banks have taken advantage of lower inflation to boost growth through rate cuts, as the resultant higher prices become more manageable. Coupled with less risk of capital flight due to a weakening US dollar, disinflation has allowed central banks to be more accommodative in their monetary policies even as the US Federal Reserve maintains its rates, explained Bajoria. Singapore has already eased its policy slope, while Indonesia, the Philippines and Thailand have delivered rate cuts in recent months. Bank Negara Malaysia is expected to cut its policy rate further in the third quarter as growth eases, said ANZ economist Arindam Chakraborty, after holding rates in March. Still, central bank policy options vary by country. In Indonesia, large rate cuts could threaten the rupiah due to the risk of capital flight, Bajoria explained. As a result, the Indonesian government has turned to fiscal policy, offering toll concessions and subsidies to ease living costs. Yet, more insidious causes behind the region's low inflation, such as weakening consumer confidence and loss of manufacturing competitiveness, may translate into slower growth prospects. For Paracuellas, slower inflation may signal the presence of ailing demand, with tariff uncertainty weighing on investment and consumer spending, prompting producers to scale back on production. 'Output gaps are starting to be negative, partly on the back of global trade policy uncertainty already starting to weigh on domestic demand,' he said. 'The longer-term solution is for these countries to implement reforms to promote a more competitive manufacturing base that leverages their respective comparative advantages,' he added.
Business Times
01-06-2025
- Business
- Business Times
Chinese economy stays challenged but some consumer stocks offer potential: BOA
[SINGAPORE] While headwinds persist for the Chinese economy and consumer confidence stays low, a select range of stocks could defy broader market trends and outperform their peers, said the Bank of America (BOA). Despite improved market sentiment, the Chinese economy remains saddled by challenged consumption growth and elevated youth unemployment alongside deflationary pressures, BOA analysts noted in a report last Thursday (May 29). However, stocks related to five themes could benefit from Chinese consumer spending, the BOA analysts said. Specifically, these are stocks that focus on the categories of health and wellness; affordable luxury; pragmatic goods and services; personal experiences and emotional value; as well as intellectual property. These 'new consumption' stocks display 'significant divergence in performance' amid softer market trends and sharply outperformed their peers in earnings growth and share prices, BOA analysts said. With clear value propositions – be it emotional value, functionality or affordability – these stocks are favoured over large-cap premium brands or market proxy players, they added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Energy drinks, outdoor brands win on post-pandemic health, wellness focus An increased interest in health and wellness among Chinese consumers post Covid-19, has benefitted stocks focusing on these themes, BOA said. In the beverage market, energy drinks and soft drinks that focus on health and anxiety alleviation logged stronger sales growth compared to liquor or beer, the analysts noted. Outdoor brands including Amer Sports enjoyed nearly 40 per cent year-on-year growth compared to the overall domestic sportswear market, which logged sales growth only in the single-digit percentages. Online healthcare experienced 'rapid growth' fuelled by rising demand for proactive and preventive health management, and the increasing penetration of online drug purchasing. Affordable luxury gains amid deflationary environment Consumers tend to be price sensitive in deflationary environments. Within the passenger vehicle market, domestic brands nearly doubled their market share from 33 per cent in 2020 to 65 per cent in the first four months of 2025, thanks to better price-performance than European and Japanese brands, the report said. With improved product offerings, local brands in the smartphone market such as Xiaomi and Huawei have taken market share away from Apple. This trend towards affordability is reflected in travel, where short-haul and domestic trips via railways and budget airlines have been on the rise; and domestic, 'affordable luxury' hotel chains have wrestled market share away from global five-star hotels. Policy stimulus, subsidies boost demand for pragmatic items The analysts also observed an increased focus on the utility and functionality over brand names among consumers. Boosted by policy stimulus, sales for home appliances, furniture and consumer electronics rose by 20 to 25 per cent year-on-year for the first four months of 2025, outpacing overall retail sales growth, they noted. Mass market brands such as Geely, Leapmotor and XPeng are expected to outperform premium/luxury brands including Zeekr, Li Auto and Nio. Consumer willingness to spend on experiences The analysts noted that consumers are willing to invest time and money in experiences. Consumers are travelling more albeit spending less and treating themselves to 'small delights' such as new snacks, online games, cosmetics and pets. Companies such as Tencent and NetEase posted gaming revenue growth for Q1 2025. Meanwhile, Chinese snackmaker Yankershop reported 76 per cent year-on-year growth in 2024, significantly higher than that of the overall snack industry, thanks to its innovative konjac products. Co-branded products get boost from consumer spend on intellectual property BOA analysts highlighted that consumer spending on intellectual property-related goods and services – such as Labubu toys or domestic movies like Ne Zha – drives up sales for co-branded products. For instance, Pop Mart's retail sales rose by 165 to 170 per cent for Q1 of 2025, with China sales up by 95 to 100 per cent. The success of the animated movie Ne Zha 2, which contributed to around 60 per cent of China's Q1 2025 box office, also drove sales of co-branded products such as milk, teas and toys.
Morocco World
16-05-2025
- Business
- Morocco World
EBRD Boosts Green Finance in Morocco with €70M Loan to Bank of Africa
Doha – The European Bank for Reconstruction and Development (EBRD) has partnered with multiple international organizations to provide a €70 million loan to Bank of Africa (BOA), aimed at promoting green lending in Morocco's private sector. The bank announced the financing package on Thursday, noting that it combines resources from the EBRD, Green Climate Fund (GCF), European Union (EU), and Canada through the EBRD's High-Impact Partnership on Climate Action (HIPCA). The funding will be split between a €35 million senior unsecured loan from GCF and another €35 million co-financed by HIPCA. This initiative falls under the EU-backed Morocco Decarbonisation and Climate Resilience Programme (GEFF+). BOA will use these funds to extend green loans to Moroccan private-sector companies, including micro, small, and medium-sized enterprises seeking to invest in climate change mitigation and adaptation technologies. The loan comes with a comprehensive technical cooperation package worth €6 million. The EU will provide €2.38 million in investment grants, while GCF will contribute the remaining €3.62 million. This support will help BOA develop its green lending practices and encourage private companies to invest in low-carbon technologies. The technical cooperation will also promote equal opportunities and women's access to climate finance. It includes training for BOA branch staff in gender-responsive green finance, capacity-building, and awareness-raising sessions to accelerate investments in sustainable energy across Morocco's private sector. Bank of Africa, the third-largest bank in Morocco, is listed on the Casablanca Stock Exchange with presence in 32 countries across Africa, Europe, Asia, and North America. It has been a key EBRD partner in green finance, with €113 million in green loans already extended through this cooperation. This financing initiative is part of a broader push by EBRD in Morocco this month. On May 6, BMCI became the first Moroccan bank to receive a comprehensive €65 million Green Economy Financing Facility (GEFF) Plus package from EBRD and partners, marking their fifth partnership. Other recent EBRD investments in the North African country include a $25 million equity investment in Dislog Group, disclosed on May 9, to strengthen the company's capital structure and advance its mergers and acquisitions strategy. Additionally, on May 13, Aya Gold & Silver secured a $25 million EBRD loan to develop its Boumadine polymetallic project. Morocco, a founding member of the EBRD, became one of the Bank's countries of operation in 2012. To date, the EBRD has invested €5.4 billion in Morocco through 117 projects.
Ya Biladi
15-05-2025
- Business
- Ya Biladi
EBRD backs Bank of Africa with €70m to boost climate finance in Morocco
The European Bank for Reconstruction and Development (EBRD) is joining forces with the Green Climate Fund (GCF), the European Union, and Canada to support green finance in Morocco. Through its High-Impact Partnership on Climate Action (HIPCA), the EBRD is extending a €70 million loan to the Bank of Africa (BOA) under the Morocco Decarbonisation and Climate Resilience programme (GEFF+), EBRD announced on Thursday. The package includes two senior unsecured loans of €35 million each, one from the GCF and the other co-financed by HIPCA. It aims to support Moroccan private companies, including MSMEs, in investing in climate adaptation and mitigation technologies. A €6 million technical cooperation package will accompany the financing, with the EU and GCF contributing €2.38 million and €3.62 million respectively. It will help BOA strengthen green lending practices, train staff on gender-responsive climate finance, and promote equal access for women. «This facility will expand and accelerate investments in sustainable energy», said the EBRD, noting BOA's pivotal role in green finance, with €113 million in green loans already disbursed.
