Internet tycoon Jack Ma has said his employees will not receive traditional Chinese New Year gifts because 2014 had not been "exceptional" for the company, despite its world-beating IPO listing on Wall Street.
Chinese bosses ordinarily hand out "hong bao" – red envelopes filled with cash – to staff ahead of the week-long holiday to wish them luck for the year ahead.
Chinese New Year begins on 19 February and will usher in the Year of the Sheep, while waving goodbye to the Year of the Horse.
Snapdeal has become the first e-commerce company in India to enter the best employers’ club. The latest survey by Great Place To Work Institute India, in partnership with Retailers Association of India, has put the New Delhi-based firm among the top 10 employers among retailers. The other nine companies in the list are traditional brick and mortar retailers.
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.
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 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.
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.
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.
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 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.
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.