Politics
Lawson to launch Thai business
Lawson Inc. is in final stages of negotiations on setting up a joint venture with the Saha Pathanapibul group, a major Thai retailer, to open convenience stores in the Southeast Asian nation, according to sources.
The plan is part of the major convenience store chain's strategy to expand its businesses in Southeast Asia, where demand is expected to increase in line with rapid economic growth.
Chinese firms wave the flag to cash in on Japan tension
Chinese internet giant Baidu and companies across the country are tapping a frenzy of nationalist sentiment, launching patriotic promotional campaigns as thousands take to the streets to protest against the Japanese government's purchase last week of some disputed islands from a private owner, islands China claims as its own.
Be it to drive traffic to websites or garner customer loyalty, companies have rushed to wave the Chinese flag to try to cash in on the worst anti-Japan protests in decades surrounding the islands, called the Senkaku by Japan and Diaoyu by China.
Richemont's fashion and accessories head resign
Richemont Group, the world's second largest luxury conglomerate yesterday announced the resignation of Marty Wikstrom, CEO of Richemont Fashion and Accessories, with immediate effect. She will continue to serve as a Non-Executive Director on the board of Richemont until the shareholders meeting on 12 September 2013.
India's SC dismisses petition against FDI in multi-brand retail
The Supreme Court on Wednesday dismissed a writ petition challenging the notifications and regulations permitting foreign direct investment in multi-brand retail sector. The court reiterated that “in matters of policy, this court will not interfere unless it is unconstitutional, contrary to statutory provisions, arbitrary, irrational or abuse of power.”
Myer draws line in the sand
In the world of top end Australian department stores there are only two players - and mounting sniper raids on each other's big-name suppliers is considered a no-go zone. And with good reason. Neither wants to deal with the retaliatory battle breaking out.
Fashion brands do shift camps between the two big retailers, but only when contracts have expired.
HK retail sales in February up 22.7pc
Total retail sales in Hong Kong in February reached USD41.4 billion, up 22.7 percent over a year earlier. Volume of total retail sales also increased by 21.9 percent compared with the same period last year, according to figures released recently by the Census and Statistics Department (C&SD).
For the first two months of 2013, total retail sales increased by 15.8 percent in value and 15.5 percent in volume over the same period a year earlier.
Small Thai shops set for 'Show-Suay' upgrade
Despite being spurned as a waste of time by a leading academic, the government is proceeding with plans to modernise traditional grocery stores under a proposed Show-Suay scheme.
On 2 April, the government through the Commerce Ministry's Business Development Department teamed up with the Thai Retailers and Wholesalers Association (TRWA), eight financial institutions, the Thai Credit Guarantee Corporation, the Metropolitan Waterworks Authority and mobile operators in a concerted effort to develop the country's retail and wholesale operations.
Asia-Pacific to lead growth in global property investments in 2013
Real property investment activity in Asia-Pacific is expected to rise 15-20 percent this year due to improved macroeconomic conditions with sustainable growth across the region, Cushman & Wakefield said in its recent report.
Specifically, investment demand will most likely increase as faith grows in China's soft landing, but demand will also broaden and other markets such as Australia and Japan, while markets such as India and Indonesia are also likely to be on the rise.
Walmart Asia CEO deposes before probe panel
Almost three months after the Indian government announced a probe committee to look into US retail chain Walmart's lobbying activities for gaining access to the Indian market, the group's Asia president and CEO, Scott Price, deposed before the panel on Saturday.
Mukul Mudgal, former chief justice of the Punjab and Haryana High Court, who's doing the probe, has sought further details from Walmart executives by 9 April.
HK consumer prices up 4.4pc in February
Overall consumer prices in Hong Kong rose 4.4 percent in February over the same month last year, the Census and Statistics Department (C&SD) reported recently.
The C&SD noted that the increase was larger than the corresponding increase of 3 percent in January this year.
"Netting out the effects of all government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in February 2013 was also 4.4 percent, also larger than that in January (3.1 percent)," C&SD reported.
