finance
China's 360buy.com adds finance chief
Chinese B2C e-commerce website 360buy.com has announced its latest personnel change with the appointment of Chen Shengqiang, former vice president of finance, as its first chief financial officer.
Chen joined 360buy.com in April 2007, and he previously held positions of financial director and vice president of finance. Chen reportedly completed his Executive MBA at China Europe International Business School.
Charter Hall Group announces finance senior management change
Charter Hall Group on Friday confirms that following the recent appointment of Paul Altschwager as chief financial o
Thailand's finance chief foresees 2.6pc Q1 growth
Thailand's finance minister expects the economy in the first quarter will slow to only 2.6 percent growth, but 5 percent for the whole year is still feasible if rehabilitation after the floods is successful.
The minister, Thirachai Phuvanatnaranubala, attributed the slow growth to flood-affected industries unlikely to restart operations.
But loans have been granted to businesses, so reconstruction should start soon. Some THB168 billion (USD5.28b) in loans has been allocated to large businesses for post-flood rehabilitation.
Esprit finance chief resigns
Esprit Holdings Ltd. said on Monday its CFO, Chew Fook-aun, will resign for personal reasons effective on 1 June, as the fashion retailer presses on with a strategic overhaul aimed at reviving its brand and restoring its soul.
That overhaul, announced in September, will require extended trips to Europe by its finance chief, the company said in a statement to the Hong Kong stock exchange, and the Hong Kong-based Chew "is unable to spend the required time in Europe in addition to his duties as group CFO in Hong Kong due to personal reasons."
Prime office rents fall in HK's Central
Weakening demand from the banking and finance sectors, coupled with a rise in secondary space returning to the market, pulled down prime office rents in the core office district of Hong Kong's Central in the third quarter, property consultants say.
And they expect rents there will continue to fall in the next 12 months.
Prime office rents in Central in the third quarter fell 3.8 percent quarter on quarter to an average of HKD148 (USD19) per square foot, the property consultant said in its latest report released on Tuesday.
Burberry sales soar 30pc in 1H
Luxury fashion brand Burberry saw total revenue surge 30 percent to GBP830 million (USD1.31b) in the six months to 30 September.
Retail revenue rocketed 45 percent to GBP528 million, with comparable store sales jumping 16 percent.
In the second half average selling space is expected to increase by 15 percent, with 8-10 stores expected to, including in China, Latin America and a flagship in Paris.
Macau govt to limit gaming tables growth to 3pc per year after 2013
Macau's Secretary for Economy and Finance, Francis Tam Pak Yuen, on Monday announced that the Macau government would restrict the rate of gaming tables growth to no more than 3 percent per year after 2013.
The restrictions will last at least 10 years, he said, until the current gaming concessions expire.
India's finance ministry for body to monitor FDI in multi-brand retail
While India's government is all set to open doors to foreign direct investment in multi-brand retail subject to a few conditions, including a minimum 50 percent investment in back-end infrastructure, the finance ministry has pitched for a monitoring mechanism to ensure that investors comply with the conditions.
Ministries at odds over luxury goods tax level
The mainland's love affair with Gucci and Prada is causing headaches for top officials with the commerce and finance ministries at loggerheads over whether to cut the import tax on luxury goods.
Japan's plan outlines 10pc hike in sales tax
Japanese government outlined its social security reform plan on Thursday, proposing doubling the consumption tax to 10 percent in stages by fiscal 2015 to finance Japan's swelling welfare costs at a time when the population is aging.
The proposals, intended to make the welfare system more affluent as well as efficient, was submitted to a government panel discussing the reform, which would also result in a reduction in pension payments to seniors with higher incomes.
