SINGAPORE: Mobile messaging apps Line and Kakao Talk are busy trying to conquer overseas markets such as Southeast Asia and India. But they may do well to keep a close eye on their home turf of Japan and South Korea as China's WeChat amasses more users.
Among six messaging apps, WeChat saw the biggest upptick in usage in Japan and South Korea last month versus a year earlier, boosted by its gaming, e-commerce and multimedia capabilities, according to data on Android smartphones tracked by Mobidia. An analysis by the mobile analytics firm compared the amount of time users spent on Tencent's WeChat, Naver's Line, Daum Kakao's Kakao Talk, Blackberry Messenger and Facebook's WhatsApp and Facebook Messenger.
WeChat's inroads in Japan and South Korea could help ease some investor anxiety over Tencent's overseas expansion after the Chinese company said it had not gained as large a footprint in Western markets as in other countries. Competition is rife, particularly in tech-savvy Asia, as messaging apps fight to stand out by combining messaging functions with other offerings ranging from cartoon stickers to online shopping. Line said this month it is launching its "Cheap Sure Sure" online grocery delivery service in Thailand, its No.2 market after Japan.
The biggest battlegrounds in the Asia-Pacific are China, Australia and Indonesia, though India is garnering more attention as the local cost of smartphones falls, middle class wealth increases and wireless infrastructure improves. India is the fastest-growing market in the region, the Mobidia data shows, led by WhatsApp, and with Kakao Talk not too far behind at No.2.
And there will be casualties. Last month, Facebook Messenger usage plummeted in nine out of 10 Asia-Pacific countries, the Mobidia data shows. Samsung Electronics, which once held lofty ambitions for ChatON, said it will discontinue the app in all markets on March 31.
China's WeChat sends a message to Line and Kakao in their home turf
China's WeChat sends a message to Line and Kakao in their home turf
Council of Economic and Development Affairs reviews budget performance report during virtual meeting
Council of Economic and Development Affairs reviews budget performance report during virtual meeting
JEDDAH: The Council of Economic and Development Affairs held a virtual meeting, the Saudi Press Agency has reported.
At the outset of the meeting, the council reviewed the quarterly report submitted by the Ministry of Economy and Planning, which included updates on the global economy and the impact of geopolitical challenges and volatility in global markets on growth prospects.
The report also addressed the latest developments related to the national economy and future projections through 2027, highlighting its high resilience in confronting global challenges and noting that various economic statistics and indicators point to remarkable growth that further cements the Kingdom’s position among the fastest-growing and most stable economies in the world.
The council reviewed the fourth-quarter performance report of the state’s general budget for fiscal year 2025, submitted by the Ministry of Finance, which provided a comprehensive overview of financial performance during the period, including developments in revenues and expenditures, public debt levels, and an analysis of local and global economic variables and their implications for financial indicators.
The report results showed the continued adoption of a balanced and flexible fiscal policy that supports economic growth and enhances financial sustainability over the medium and long terms, through the use of disciplined and efficient fiscal tools and the continuation of countercyclical spending, directed toward development programs and projects with economic and social impact, contributing to improving the quality of public services, stimulating investment, and strengthening the resilience of public finances.
The council discussed a number of procedural matters, including a draft Government Tenders and Procurement Law, a draft Space Law, and a briefing on steps taken regarding the assignment of the Council of University Affairs to update the regulations necessary for the governance of public and private universities and health colleges, supervise and follow up on them periodically, and update compliance processes in public and private universities and health colleges based on quality standards approved by the Council of University Affairs.
The council was also briefed on the results of the quarterly Real Estate Price Index report, along with two summaries of the monthly Consumer Price Index and Wholesale Price Index reports, and the underlying reports on which the summaries were based.
The council adopted the necessary decisions and recommendations regarding these matters.
