Mastercard's Indian tech hub to develop cashless payment systems

MasterCard has opened a new technology hub in India, a key part of the company’s strategy to drive the development of cutting-edge payment technologies aimed at enabling a cashless world.

The facility in Pune, together with its Vadodara counterpart, represents the company’s largest Tech Hub outside of the US.

Apple standout winner in China's luxury slowdown


Chinese corporates and wealthy consumers are taking gift-giving down a notch this Lunar New Year, opting for iPhones instead of Birkin bags or Louis Vuitton wallets.

The annual holiday, which falls on February 19-20 this year, is a time of gift exchange between family, colleagues and business contacts.

Matahari expands to "Chinatown" of Indonesia's Kalimantan

Jakarta Globe

Matahari Department Store (MDS) opened a new store in Indonesia's Singkawang, West Kalimantan, to tap the economy prospects in the region, the publicly-listed company said in a statement on Thursday.

The store, called Matahari Singkawang Grand Mall – MDS's 13th store in Kalimantan – has a total area of 6,300 square metres. The store is the first new location MDS has opened this year.

Expert Opinion: Raising the bar for cyberattacks at the Point-of-Sale

Many retailers, large and small, brick-and-mortar and online, had their brands tarnished by cyberattacks in 2014. While news stories focused on Point-of-Sales (POS) breaches, often the initial intrusion took place in the back-office and through a business partner.

Bottom line, to protect their reputation and the trust of their customers, retailers must re-evaluate the level of security currently in place not only in their POS environments but also throughout their value chain and across their business partners and customer touch points.

Japan's fast-food chains face new headache


Already reeling from a handful of scandals, Japan's fast-food industry faces a new problem: diners are no longer heading out for meals like they used to.

"Japanese consumers are choosing to buy their meals at convenience stores and eat at home," said Japan Food Analyst Association (JFAA) chairman Hiroyuki Kamiya.

China accuses Alibaba of failing to curb fake goods, bribes


Alibaba Group Holding Ltd has a "credibility crisis" fuelled by its failure to crack down on shady merchants, counterfeit goods, bribery and misleading promotions in online malls, the Chinese government said.

Gap to close Piperlime brand

Gap is closing its Piperlime brand, including the online platform and single store in New York, saying that it will instead focus on five brands – Gap, Old Navy, Banana Republic, Athleta and Intermix, as well as digital and global growth.

“We are incredibly grateful to our fashion-focused, loyal customers, and proud of our dedicated employees who have been working hard to evolve the brand and test out new ideas,” said incoming CEO Art Peck.

Only 13pc of Singapore employees will get a pay increase of 6pc or more, says Hays

The Business Times

Recruiting and human resources firm Hays said on Tuesday morning that Singapore salaries remain steady despite steady hiring demand.

While most employees can expect some pay increases, just 13 percent can expect a salary increase of 6 percent or more, the firm said, as it released its 2015 Hays Asia Salary Guide.

The guide shows that in Singapore, 59 percent of employers increased salaries in their last review by 3 to 6 percent, while 8 percent gave staff an increase of between 6 and 10 percent. A further 5 percent increased above 10 percent.

Ikea working to polish its reputation in Indonesia

Jakarta Globe

Indonesia and the European Union have been doing business for decades. Over the years, Indonesia has been exporting many products to EU countries, and vice versa. According to Harvey Rouse, head of economic and trade section for the European Union's mission to Indonesia, the EU encourages European companies that invest in Indonesia to respect local values and cultures, as well as improve the welfare of the people around them through corporate social responsibility programs.

Mobile World CEO receives USD2m in shares after bonus payout

Viet Nam News

Nguyen Duc Tai, chairman and CEO of Mobile World Investment Co (MWG), is reported to have received 387,700 shares in the company under its employee stock ownership plan (ESOP), worth around VND42.3 billion (USD2 million).

Tai directly owns 2.67 million MWG shares and has indirect ownership of 15.45 million shares through Retail World Investment Consultant LLC. With the current price of nearly VND110,000 (USD5.14) a share, Tai is 7th on the list of the richest people in the Vietnamese stock market.

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