President
P&G to move beauty unit to Singapore
Procter & Gamble will move its skin care, cosmetics, and personal-care headquarters from Ohio to Singapore to be closer to the growing Asian market, and the president of the group will leave instead of move.
The relocation, which is expected to take two years, reflects P&G's desire to run the business out of Asia, where it sees the biggest growth opportunity. It was announced less than three months after P&G unveiled a restructuring plan aimed at saving USD10 billion and helping the world's largest household products maker expand faster in emerging markets.
Thailand's stores increasing security for Songkran
Thailand's retail operators have imposed various safety measures for Songkran, the country's traditional New Year day, to increase consumer confidence in the safety of their malls after the recent car bomb in Hat Yai.
Chai Srivikorn, president of the Ratchaprasong Square Trade Association (RSTA), said member retailers are still concerned about safety and offered special training for their security guards to deal with emergency situations. Guards will be trained to notice suspicious objects that could be bombs.
Philippines' JFC acquires Chinese food chain Guangxi San Pin Wang
Jollibee Foods Corporation (JFC), through wholly owned unit Jollibee Worldwide Pte. Ltd., has completed its acquisition of 55 percent of Guangxi San Pin Wang Food and Beverage Management Company Limited which will entail a CNY40-million (USD6.32m) investment.
In a disclosure to the Philippine Stock Exchange, Jollibee said its investment in South China will be done through its joint venture with Guangzi Zong Kai Food and Beverage Investment Company Limited (GZK).
Cinema, old shopping centre closed in HK Causeway Bay
Causeway Bay said farewell on 31 January to UA Cinemas' complex in Times Square after 18 years - and also the 48-year-old President Shopping Centre in Jaffe Road.
A Times Square spokesman said that the top two floors - levels 12 and 13 - of the mall had been designated for a new cinema, but whether UA Cinemas would move in or not was still under discussion. Negotiations on a new lease for the existing cinema premises on the ground floor were under way.
Canon earnings outlook falters, president steps down
Canon Inc's 76-year-old chairman and CEO will take on the additional role of president after the USD60 billion Japanese camera and printer maker forecast weak earnings growth and said its current president was stepping down.
Like other export-focused Japanese manufacturers, Canon, which makes 80 percent of its revenue overseas, has been hit by a strong yen and a weak economy, on top of last year's floods in Thailand that closed a printer plant and ruptured supply lines.
S Korea's President targets inflation, jobs
South Korean President Lee Myung-bak said his economic priorities as he enters his final year in office are taming stubbornly high inflation and creating jobs.
Speaking on Friday in an interview with The Wall Street Journal, President Lee said Korea's diversified export markets and improved corporate competitiveness have helped the economy weather recent global economic instability.
He said his focus is now on improving economic conditions for average Koreans.
Wal-Mart says China CEO stepping down
Wal-Mart says the president of its China unit and another executive are stepping down.
The announcement on Monday comes as Chinese authorities are investigating complaints that some Wal-Mart stores mislabeled pork. But a company spokesman said the departure of president Ed Chan and a senior vice president were unrelated to the investigation.
Indian economy will continue to grow, says President
Amid growing fears of another global recession looming large, India's President Pratibha Patil on Wednesday exuded confidence that India with its "strong fundamentals and resilience" will continue to grow economically.
Inaugurating the seventh regional conference of the ADB-OECD on combating corruption, the President said India has made great economic strides since 1991 when the process of economic reforms were ushered in.
Carrefour China names new president
Carrefour, the French retail giant, appointed Thierry Garnier the new president of its China division on 22 August, according to a report from The Wall Street Journal.
Garnier will take over Eric Legros’s position from April next year and the latter will be responsible for the company’s food and non-food businesses.
China's fake Ikea stores try to recreate experience
Nestled in a sleepy southern district of Kunming city in southwest China, is a 10,000 square metre, four-storey building that could make Swedish furniture giant Ikea uneasy.
11 Furniture, as the store is known, copies Ikea's blue and yellow colour scheme, mock-up rooms, miniature pencils, signage and even its rocking chair designs. Its cafeteria-style restaurant, complete with minimalist wooden tables, has a familiar look, although the menu features Chinese-style braised minced pork and eggs instead of Ikea's Swedish meatballs and salmon.
