Major
LG Display logs 3rd straight quarterly loss
Flat-screen maker LG Display posted on Thursday its third consecutive quarterly loss as depressed demand from television makers outweighed roaring growth in sales to its major tablet – and smartphone-screen buyer, Apple.
Panel makers are bracing for a weaker-than-usual seasonal demand pickup in the second half, as an uncertain global economy further slows TV demand.
Growth prospects for LCD TV panels are dim because many households in developed countries have already traded their bulky TV sets for flat-screen TVs and have more than one LCD TV set.
HK is top base for global business
Hong Kong ranks as the most popular location for global businesses, with 68.2 percent of the world's major international companies having a presence in the city.
That finding is contained in the latest "Business Footprints" survey by property consultancy CB Richard Ellis, which also found an increasing trend among global companies to open offices throughout the wider Asian region, reflecting a shift in global economic power.
Washing machine sales spurs growth of the Major Domestic Appliances sector in SE Asia
The robustness of the Major Domestic Appliances (MDA) industry in Southeast Asia brought in sales totaling more than USD2 billion in the first five months of 2011 – a 10 percent growth compared to the same time period last year. According to market research company GfK Asia, the six key markets of Singapore, Malaysia, Thailand, Vietnam, Indonesia and the Philippines reported over 7.2 million units of air-conditioners, refrigerators, washing machines, and microwave ovens being sold since the beginning of the year.
Japanese noodle bosses reach out to HK diners
Several major ramen noodle chains whose business was impacted by the earthquake and tsunami in Japan are eyeing expansion in Hong Kong and China to help make up for lost volumes back home.
The need for a code of ethics in luxury
In what seems a never-ending international expansion of luxury especially in major emerging markets has definitely served its financial purpose for most brands, which have seen their distribution networks, in some cases, even double especially in the past five years. For a select few which have been expanding with direct operations such as Louis Vuitton, implementing the brand's DNA in each market has been easier than for the majority of brands which have been expanding with franchising, joint venture or wholesale.
Hermes to open major flagship store in India
French luxury company Hermes is set to open its major flagship in India, in the metropolis of Mumbai at the beginning of August.
The new Hermes store which will cover over 4,000 square feet will be situated in the Fort area, in a heritage building, completely restored.
India's Major Brands to take its store count to 500
Major Brands (India) Pvt. Ltd, which has a number of international lifestyle brands under its portfolio, is planning to take the count of its stores to 500 by 2015.
These new stores will be a mix of company owned and franchised outlets, confirms a company's official.
China considers new tax for foreigners
China may start collecting a new tax from foreign workers and their employers as it extends its social-security program to include the 600,000 foreign nationals who work in the country.
Licensing brings well-loved brands to Philippines
What is a business that could potentially bring in more business? "It's licensing," says Wallace Tay, a Singaporean who is one of the three major partners in Pacific Licensing Studio (PLS), who have spent more than 55 years in the licensing business all over the world.
HUL net profit down a tad to USD127.6m
Surprising the Street, FMCG major Hindustan Unilever (HUL) on Monday reported splendid numbers for the March 2011 quarter with profit after tax, adjusted for exceptional items, at INR485.5 crore (INR4.86b, USD108.9m) up a good 11 percent year on year.
Double digit growth in volumes, for the second consecutive quarter, drove up HUL's top line to INR4,966.6 crore (INR49.6b, USD1.11b), a strong 13.4 percent growth over the corresponding period of the previous year.
