TomTom raises 2025 guidance after positive half-year results
The Amsterdam-based company expects its revenue to come between 535 million and 565 million euros ($624.72 million and $659.75 million) in 2025, compared with the previous forecast of 505-565 million euros.
($1 = 0.8564 euros)
(Reporting by Mathias de Rozario in Gdansk, editing by Milla Nissi-Prussak)
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Catching a break: Chinese gig workers find rest, support in city harbors
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Liu has benefited from a wider array of initiatives implemented by Jiading District to support gig workers in the area. As the gig economy continues to grow across China, cities are responding by establishing rest lounges, offering affordable dining options, and providing skill training for gig workers who play a crucial role in keeping urban life moving. The number of flexible workers in China exceeded 265 million in 2024, including 175 million engaged in platform-based gig work, according to an industry report by Hangzhou-based Gongmall, a digital solutions provider for the gig sector. They typically work as car-hailing drivers, food delivery riders and long-haul drivers, among other trades. While making life more convenient for residents, these flexible workers often scramble to find facilities to meet their basic needs – whether it is using the bathroom, recharging their mobile phones and electric bikes, or simply taking a moment to rest. A deliveryman charges his cellphone while resting inside 'the stage of deliverymen' in Gongshu District of Hangzhou, east China's Zhejiang Province on March 15, 2024. – Xinhua photo Jiading District in Shanghai has set up stopover hubs for both car-hailing drivers and food delivery riders. One such hub, located in Zhaqiao Village, offers catering services and rental apartments. Here, car-hailing drivers can take naps in massage chairs while their cars charge outside. The budget-friendly cafeteria even provides meals outside regular dining hours. 'For meals, I used to grab some buns or snacks in the car, eating when I could and often going hungry. 'Now, not only do I eat well, but I can also rest properly, so I don't feel drowsy after long hours of driving,' said driver Wu Yigui, who is dining in the cafeteria. The driver from southwest China's Guizhou Province has also made this service hub his temporary home, renting a shared apartment for 650 yuan (about US$91) per month – an affordable option in the costly city of Shanghai. Food delivery riders have their rest lounges as well. On a typical workday afternoon, Jiang Zhongqiang, a rider for the food delivery platform stopped outside one of these lounges in Jiading. After replacing the battery for his electric bike, he stepped into the lounge, where he refilled his water bottle and plugged in his cell phone to charge while he enjoyed his meal. A deliveryman prepares to change electric motorcycle battery at 'the stage of deliverymen' in Gongshu District of Hangzhou, east China's Zhejiang Province on March 15, 2024. – Xinhua photo In 2022, the Chinese government issued a guideline aimed at improving gig economy services to boost employment. The country has been focusing on improving welfare for this increasingly significant segment of the workforce in recent years. In June, China released guidelines aimed at safeguarding public well-being and addressing the most pressing concerns of the people. These guidelines emphasised the need to improve the social insurance system for flexible workers. They also called for the gradual integration of flexible workers into the housing provident fund system. Rest stops for gig workers have proliferated in major cities across China. In Beijing's Chaoyang District alone, there are 2,912 service stations where the district's 83,000 flexible workers can recharge between tasks. One such lounge, located in the bustling Shuangjing commercial district, operates around the clock, allowing delivery riders to access it even deep in the night. 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Nvidia to resume H20 GPU chip sales to China
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The Star
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NationGate's core business viewed as ‘sound'
The news triggered heavy trading of NationGate shares. PETALING JAYA: Nationgate Holdings Bhd 's subsidiary has been raided by the Malaysian Anti-Corruption Commission (MACC) over alleged scrap metal smuggling. NationGate, in a filing with Bursa Malaysia yesterday, stated the anti corruption watchdog raided the premises of its wholly-owned subsidiary, NationGate Solution (M) Sdn Bhd on Monday, as part of an ongoing investigation into alleged scrap metal smuggling. In its latest annual report, the group noted NationGate Solution is involved in the assembly and testing of electronic components and products. The news triggered heavy trading of NationGate shares yesterday with Rakuten Trade head of equity sales Vincent Lau saying the selling was likely driven by a 'sell first, ask later' reaction among investors. He opined that NationGate's share price should stabilise at current levels. 'The group's data centre prospects remain intact for now, with reputational risks stemming from the MACC raid rather contained,' Lau said, adding NationGate's core business 'remains sound' and the company's partnership with Nvidia Corp is unlikely to be affected by the raid news. NationGate closed the trading day at RM1.49, down 12 sen, with 160.5 million shares traded. Intraday short selling of NationGate shares was suspended by the local bourse after a 15% plunge following the company's announcement of the event to Bursa Malaysia. The suspension will be lifted today. The Penang-based tech company's shares had tested a high of RM1.70 and low of RM1.35 in intraday trade. NationGate is one of only four elite Asian original equipment manufacturer partners of Nvidia. It serves as Nvidia's only contract manufacturer in South-East Asia, specialising in building artificial intelligence (AI) servers equipped with the US tech goliath's high-performance graphics processing units, which are mainly deployed in AI-based data centres. 'I believe Nvidia would have done its due diligence and recognised NationGate's capabilities, which is why NationGate was appointed in the first place. I do not think this issue would cause Nvidia to switch to another partner,' Lau said. NationGate stated it views the allegations with 'utmost seriousness' and has taken 'proactive steps' to ensure full cooperation with the MACC and to 'safeguard the integrity of the investigation'. 'Our company remains steadfast in its commitment to the highest standards of corporate governance, accountability and transparency,' it said in the filing. NationGate also assures stakeholders that the board will use its 'reasonable endeavours' to ensure business operations remain unaffected, and 'appropriate interim measures' have been put in place. 'This (scrap metal) is just a small part of its business, and even if it's stripped out, it would not affect NationGate's earnings in a meaningful way,' Lau said.
