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E-commerce giants Alibaba and JD.com by far the dominant retailers in Asia-Pacific, Euromonitor study finds

Chinese e-commerce giants Alibaba Group Holding and JD.com were Asia-Pacific’s top retailers by sales last year, with combined revenues of US$444.5 billion, dwarfing Hong Kong’s GDP of US$363 billion. According to the Top 100 Retailers in Asia-Pacific report by global market research company Euromonitor International, Alibaba generated sales of US$243.5 billion last year, up by about a quarter from US$196.9 billion in 2017. Alibaba owns the South China Morning Post. JD.com, China’s second… Source link

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Between Fed rate cuts and the dominant US dollar, Donald Trump can’t have it all

The pre-eminent status of the US dollar in the global financial system, even in the era of floating exchange rates, has long afforded the United States the latitude to pursue its domestic policy agenda, knowing that the rest of the world has to hold its currency anyway to facilitate international transactions. But that “exorbitant privilege”, to use the term coined in 1965 by France’s then finance minister Giscard d’Estaing, should not be taken for granted by Washington. The centrality of the… Source link

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Hong Kong’s dominant broadcaster TVB swings to a loss of US$25.3 million on investment write-off

Hong Kong’s dominant broadcaster TVB posted a net loss of HK$199 million (US$25.3 million) for 2018, down from a net profit of HK$243 million a year earlier, mainly due to a write-off on bond holdings issued by Chinese theatre operator SMI Holdings Group.Television Broadcasts (TVB), held under parent film production company Shaw Brothers, said it had written off HK$500 million on its holdings of SMI Bonds, according to a filing on Wednesday night to the Hong Kong exchange.“Hong Kong business… Source link

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