New shoe unveiled for ‘walking and swinging'
The new Victory Tour 4 answers the bell to both, adding to Nike's Flyplate technology and the timeless, premium-crafted shoe with an intuitive, micro-adjustable BOA Fit System.
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RM 13.90/month
RM 9.73 /month
Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.
RM 12.39/month
RM 8.63 /month
Billed as RM 103.60 for the 1st year, RM 148 thereafter.
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The Star
5 hours ago
- The Star
China is buying appliances and iPhones. What happens when the subsidies stop?
TIANJIN, China: Browsing through the selection of Apple iPhones in an electronics store in Tianjin in eastern China, Zhan Demi rattled off the reasons she needed to upgrade her device. Photos and videos of her toddler were quickly eating up her phone's storage. One of her children's teachers asked her to download various apps, again straining the limits of her device. But the factor that ultimately brought her into the store was a government trade-in programme aimed at stimulating stubbornly sluggish consumer spending in China. Confronting a trade war with the United States, China's government has poured US$42bil (RM 178.71bil) this year into a consumer trade-in programme, double last year's amount. The aim was to jolt a much-needed surge in spending at a precarious moment for the economy by subsidising discounts for a wide variety of consumer goods, from washing machines to electric vehicles. The programme has proved so successful that several municipalities have suspended or curtailed the programme in recent weeks to prevent the money from running out prematurely. In May, retail sales grew a surprising 6.4%, exceeding economists' expectations, spurred by robust demand for smartphones and home appliances. 'We want to shear wool from the sheep,' Zhan said, using a popular Chinese idiom for seizing an opportunity. She had already taken advantage of the programme to buy an energy-efficient air conditioner and other home appliances at discounts of up to 20%. 'If we can upgrade everything at once when there's a good deal, we'll do it,' she said. Tepid consumer spending has been a long-running concern for China's economy. Chinese consumers save more and spend less than those in most developed countries, even when the economy is growing at a breakneck pace. But now that growth is decelerating, lucrative jobs are disappearing and the country's slumping property sector – a key driver of the economy and an investment destination for savings – is showing no signs of rebounding, boosting spending is critical to sustaining economic growth. China's usual playbook for lifting the economy may not work this time around. It cannot spend as lavishly on infrastructure as it did in the past. Its local governments are swimming in debt after decades of building airports, train stations and bridges. Its continuing trade feud with the United States and a growing global concern about the flood of inexpensive Chinese goods limit its ability to rev up the country's factories to increase exports. In a reflection of the challenges facing policymakers, Zhan said that, despite spending through the trade-in programme, she was also cutting back. When her preferred coffee shop raised prices to US$2 (RM8.51) a cup from US$1.40 (RM5.96), he decided to buy beans and make coffee at home. She said it was natural to make such choices when the economy was not good. 'Many people are even unemployed, or they are forced to stop working, or their salaries are cut,' Zhan said. 'Consequently, rather than just being short of money, people tend to compare and make choices with more consideration.' While the ruling Communist Party has paid lip service to the importance of boosting consumption for years, recent statements from top officials are growing more emphatic. Last month, China's premier, Li Qiang, said the country was 'intensifying efforts' to expand domestic demand with special initiatives. Speaking in Tianjin at the World Economic Forum, a meeting of business executives, government leaders and experts, he pledged to make China 'a megasized consumption powerhouse on top of being a manufacturing powerhouse.' Xi Jinping, China's top leader, pledged this year to 'fully unleash' the country's consumers to counter the impact of a trade war with the United States. The current trade-in programme – similar to America's 'Cash for Clunkers' initiative – started late last year. It initially applied to eight categories of home appliances and automobiles. The discounts range from 15% to 20%, with larger savings reserved for more energy-efficient products. China, which issued special Treasury bonds to fund the programme, allocated twice as much money for it in 2025 and extended the products covered to include smartphones, tablets and smartwatches. Last month, the municipal government of Chongqing, along with a few other regions, halted the subsidies. Chongqing, a city of more than 30 million people, stated that the pause was not a complete cancellation but rather a preparation for a second round of subsidies that would be available at a later date. Despite the success of the trade-in programme, economists fear that its impact on consumption will be short-lived and could lead to a decline in the second half of the year and the first half of next year. Nomura, a Japanese investment bank, estimates that retail sales in the second half of 2025 will decline 0.4 percentage points from the same period last year, and by almost 1 percentage point in the first half of next year. The government is exploring alternative policy options. Starting this year, China is planning to provide annual payments of US$500 (RM2,127) per child under three years old to families that have children, according to Bloomberg. Zichun Huang, China economist at Capital Economics, said the cash handouts were a 'shift in mindset' and laid the groundwork for other measures to support consumption. Another factor contributing to China's high savings rates is its sparsely funded social safety net. While most Chinese citizens are enrolled in medical and pension insurance, the benefits are limited and out-of-pocket payments are significant. Most people are not covered by unemployment or workplace injury insurance, including many of China's 200 million gig workers. Zhang Dylan, a salesperson for automobile maker BYD, said he had witnessed a modest bump in sales for cars from the trade-in programme. As he sat waiting for potential customers to arrive, he noted that the demand, however, was nothing like it had been two or three years ago, when orders would roll in and there was a six-month waiting list for interested buyers. Like many Chinese consumers, Zhang said he had experienced financial strain because of the real estate downturn. He and his wife bought a home in 2019 for about US$265,000 (RM 1.12mil) . Since then, its value has fallen by nearly half. Asked why he thought Chinese consumers were not spending more, Zhang said people were being tightfisted because 'it is too difficult to make money'. Inside a mall in Tianjin, Wang Mingke, a salesperson at a store for Chinese smartphone maker Xiaomi, said the trade-in programme had spurred buying of the company's smartphones. He said the store sold more than 30 smartphones a month, compared with 20 a month before the subsidies. A few months ago, in the early months of the initiative, the store sold 50 phones in a month. Wang, 35, said the subsidy gave a little push to worried consumers to spend. 'Everyone is talking about the economic downturn, and earning money is indeed more difficult,' he said. 'As your income becomes a little lower, when it comes to discretionary spending, you might just choose not to buy for now.' – ©2025 The New York Times Company This article originally appeared in The New York Times.
The Star
6 hours ago
- The Star
Richard Mille and Ferrari blend horological and automotive design in new watch
In a bold evolution of a timepiece that is not only a technical wonder but a celebration of shared values and synergy, emerges the RM 43-01 Tourbillon Split-Seconds Chronograph Ferrari, a result of the collaboration of two powerhouses. An extraordinary blend of horological and automotive design by Richard Mille and Ferrari, the watch is a showcase of beauty, offering uncompromising performance. The heart of the RM 43-01 calibre Engineered from ground up over a three-year development process, the RM 43-01 calibre is exceptionally lightweight and strong. Its intricate architecture rests on a highly skeletonised grade 5 titanium baseplate and its engine supported by bridges produced from both titanium and Carbon TPT. It delivers 70 hours of power reserve indicated at 2 o'clock on a 5N PVD titanium dial. Front view of the RM 43-01 Ferrari titanium. The quality of this energy is also visible through a second dial via the torque indicator. The last indicator for the selected function completes this dashboard. The tourbillon escapement with a titanium carriage brings notable kineticism to the watch, enhanced by an innovative active seconds display that uses five radial blades read against a 12-second index. Extensive R&D Designed in collaboration with Richard Mille's long-time partner Audemars Piguet Le Locle (APLL), the RM 43-01 calibre brings multiple refinements to the split-seconds mechanism. Through intensive R&D and computer simulations, a new generation of components has been developed to optimise power consumption while delivering more consistent torque levels throughout the power reserve. From micro-components to material selection, every element of the RM 43-01 Tourbillon Split-Seconds Chronograph Ferrari was considered with performance in mind as with any Ferrari automobile. Considering how every single design decision can impact the integrity and technical capability of a given part, extensive shock testing, simulations and deep research were conducted to ensure that every part met Richard Mille's uncompromising standards. The 'control panel' of the RM 43-01. 'Our work as movement manufacturers is becoming increasingly scientific, and this helps us create components that are even more durable whilst delivering even better performance,' says Richard Mille movement technical director Salvador Arbona. A key emphasis was placed on enhancing the three-dimensional effect of the movement design, using a variety of surface treatments, finishes and contrasting details inspired by the complex geometries of Ferrari engine blocks and crankcases. The metallic finish of the baseplate echoes the industrial precision of sandcast engine components, while microblasted bridges recall the toughened matt surface of Ferrari engine covers. Angular structures adorned with raised ridges, contrasting tonalities, and tiny X-shaped supports interspersed with golden hexagonal socket-head screws are a direct nod to the patterns, parts and extruded details found on Ferrari engine blocks and crankcases. On the front, the clutch wheel of a V8 engine informs the design of the barrel jewel setting, while dynamic, angular exterior details of cars like the 488 Challenge Evo, the Daytona SP3 and the SF90 Stradale inform elements of the case styling, pushers and indexes. As with the tachometer that dominates a modern Ferrari dashboard, the skeletonised 30-minute totaliser stands out in the dial – the dramatic three-dimensional lynchpin of the chassis layout. Zooming in on the RM 43-01 movement. For this limited edition of only 150 pieces, as many as 10 prototypes were developed before the final version, reflecting the brand's extreme standards. Richard Mille casing technical director Julien Boillat says, 'The team from Ferrari worked very closely with our experts for two years on this new project. 'When we design a watch, we find new ways to increase the performance and to discover new materials that can further improve durability. 'It was incredibly stimulating to have Ferrari as our co-pilots on this adventure.' Second collaboration The collaboration between Richard Mille and Ferrari began in 2021, uniting two engineering powerhouses, each driven by the unwavering pursuit of technical innovation, landmark design, and peerless performance. In 2022, this alliance delivered its first masterpiece, the RM UP-01 Ultraflat Ferrari – a watch just 1.75mm thick – stunning industry observers and fans from both brands. Now, the second creation from this partnership reinvents Richard Mille's most complex high-complication format, the tourbillon split-second chronograph, through a dynamic creative exchange between Maranello and Les Breuleux to create the RM 43-01 Tourbillon Split-Seconds Chronograph Ferrari. 'A collaboration like this is as much predicated on similarities in values as it is on the visual similarities between a Ferrari engine or a component, and the elements used in a watch,' says Ferrari chief design officer Flavio Manzoni. 'In terms of performance, anything that has a technical purpose can also be beautiful. 'The concept of functional beauty is something that we really love.' Thanks to the deep creative and technical exchange between Richard Mille and Ferrari, the RM 43-01 weaves together a subtle but dynamic array of visual and technical elements that take their cue from the automotive brand's unparalleled technological universe. Two personalities The RM 43-01 Tourbillon Split-Seconds Chronograph Ferrari is limited to 75 pieces in microblasted and polished grade 5 titanium with a Carbon TPT caseband; and 75 in Carbon TPT, a lightweight and durable thin-ply composite used exclusively for Richard Mille. 'We have two cases to express two distinct personalities: a 'gentleman driver' ethos for the titanium case, and a more high-octane attitude in the carbon version,' says Boillat. Ferrari's Centro Stile played an instrumental role in designing various key elements of the watch, from the general aesthetic to the details such as the crown, hands and the strap featuring the pattern of the Purosangue seats, all representative of their stylistic influence. The space deliberately left open during the development of the movement is filled with a titanium plate laser-engraved with the Prancing Horse logo, which shape is inspired by the rear wing of the 499P. Microblasted and satin-finished with polished bevels, it demonstrates the brand's level of expertise apparent throughout the calibre. The RM 43-01 Tourbillon Split-Seconds Chronograph Ferrari is a true homage to Ferrari's legacy, blending iconic design and unparalleled performance. The pinnacle of horological and automotive synergy, it demonstrates that it is possible for aesthetics to meet function as passion drives innovation.
The Star
10 hours ago
- The Star
M-REITs stand out as rates fall
WITH global uncertainty stemming from US tariffs and slowing global demand, it is becoming more challenging for investors to find steady income plays. This week's 25-basis-points (bps) cut in the overnight policy rate (OPR) to 2.75% by Bank Negara means money in banks – whether in savings accounts or fixed deposits – will earn lower returns, making traditional bank-based saving options even less appealing. Cancel anytime. Ad-free. Full access to Web and App. RM 13.90/month RM 9.73 /month Billed as RM 9.73 for the 1st month, RM 13.90 thereafter. RM 12.39/month RM 8.63 /month Billed as RM 103.60 for the 1st year, RM 148 thereafter.
