Vietnam 

Auchan retail chain to leave Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HÀ NỘI — French supermarket group Auchan Retail had decided to sell 18 loss-making stores in Việt Nam, vietnamplus.vn cited CEO Edgar Bonte as saying. Those outlets generated 45 million euros (US$50.4 million) in revenue in 2018 but still suffered losses. The French group entered Việt Nam in 2015 and has developed a total of 21 stores in the country. After the closure of three outlets, it now has 18 left, 13 of which are in HCM City, four in Hà Nội and one in the southern province of Tây Ninh. Auchan is now negotiating with different…

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China 

EU investment rules leave over 80 per cent of Chinese firms feeling discriminated against, survey says

More than 80 per cent of Chinese firms believe they are discriminated against when investing in European Union countries as China’s overseas acquisition are increasingly scrutinised, according to a survey compiled by a Chinese trade body.The European Union is the largest recipient of Chinese investment, but new rules on the screening of foreign investment introduced at the start of April target areas that have had the most Chinese investment, including manufacturing, lease and commercial… Source link

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Property 

UK department store House of Fraser’s landlord serves notice on retail tycoon Mike Ashley to leave

Doubts are growing about the number of House of Fraser department stores Mike Ashley will keep open as landlords lose patience with him paying no rent while he decides what to do with the spaces.The retail tycoon said he hoped to save about 80 per cent of House of Fraser’s 59 stores across the UK and turn the chain into the “Harrods of the high street” after it was bought out of administration for £90 million last August by his leisurewear business Sports Direct.But the landlord of Rackhams in… Source…

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Home 

‘Brexiety’ becomes a word as foreign investment in UK real estate drops to its lowest level since 2016 vote to leave European Union

Foreign investment in UK property has in the first three months of 2019 fallen to its lowest level since the first quarter of 2016, the three-month period before the country voted to leave the European Union, according to data provider Refinitiv.Cross-border spending on UK property – residential, non-residential, other real estate, real estate management and development, Reits, hotels and lodgings – reached US$598.3 million in the March quarter, a tenth of the US$5.9 billion reported in the… Source link

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Home 

When it comes to financial planning, most Hong Kong women leave it to spouses ‘as they know better’

Women still have much progress to make before being equal or taking charge of life-changing financial decisions with a partner, according to a UBS survey released ahead of International Women’s Day on Friday.This year’s theme of Balance for Better for the United Nations-recognised annual event is projected at accelerating gender balance. But from a financial planning perspective, there is still a way to go before this is achieved.The UBS study found that over 80 per cent of women worldwide are… Source link

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Home 

‘I am innocent’: Former Nissan Motor Chairman Carlos Ghosn to leave prison after more than 100 days in detention

A Japanese court on Tuesday rejected a last-minute attempt by prosecutors to keep former Nissan Motor Chairman Carlos Ghosn in prison, ruling that the once-feted executive could be released on US$8.9 million bail after more than 100 days in detention.The Tokyo District Court, which had earlier granted Ghosn bail, said it had rejected an appeal by prosecutors who had sought to keep him in prison, pending his trial for financial misconduct.The ex-chairman of Nissan, Renault and Mitsubishi Motors… Source link

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Singapore 

Surgeon fights suspension for failing to give adequate medical leave, Singapore News

SINGAPORE – A hand surgeon who gave a foreign worker one day of medical leave and certified him fit for seven days of light duties after surgery is fighting against his conviction for professional misconduct. Dr Looi Kok Poh was handed a six-month suspension by a disciplinary tribunal which found that he had failed to give adequate medical leave to the patient, a 32-year-old Indian national who worked as a welder in a shipyard. On Monday (March 4), Dr Looi argued that the medical certification was justified, given the particular…

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Home 

Apple’s top retail exec to leave amid iPhone sales slowdown

Apple’s top retail executive is stepping down amid a slowdown in iPhone sales that has raised doubts about the technology giant’s future growth prospects. The shake-up announced on Tuesday ends Angela Ahrendts’ five-year stint overseeing the company’s network of 506 Apple Stores and e-commerce operations. She will remain with Apple until April. Apple did not give a reason for Ahrendts’ departure, saying only that she was leaving “for new personal and professional opportunities”. She is being replaced by Deirdre O’Brien, a long-time Apple executive who also runs the company’s human…

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Singapore 

Ex-church leader Chew Eng Han jailed for 13 months over failed bid to leave Singapore illegally, Singapore News

SINGAPORE – Former City Harvest Church (CHC) leader Chew Eng Han was sentenced on Tuesday (Jan 29) to 13 months’ jail after attempting to leave Singapore unlawfully. He will serve it after completing his earlier sentence of three years and four months’ jail for his role in the misuse of church funds. Chew, 58, was convicted in December last year of attempting to leave Singapore illegally from an unauthorised point of departure. District Judge Victor Yeo also found him guilty of attempting to defeat the course of justice by boarding…

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China 

How US trade war could leave Chinese private firms at risk of being ‘taxed to death’

Chinese entrepreneur Lee Teng shut down his company last year, overwhelmed by his tax burden. In mid 2016, China replaced its business tax with a value-added tax (VAT) across all industries. Even though the adjustment was intended to reduce the overall tax burden on companies, the effective tax rate on Teng’s Beijing-based firm rose a percentage point. This represented a considerable increase for a new-energy engineering company with 20 employees and annual revenues of 15 million yuan (US$2.2 million). “I also needed to set aside as much as 40 per…

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