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Beginning November 1, income tax collection will be initiated from sellers on e-commerce platforms in Indonesia, as confirmed by the country’s tax authority. The plan, which was postponed twice in an effort to stimulate consumer spending, is now scheduled to…
HSBC has announced that it will sell its life and health insurance division in Singapore to Germany’s Allianz. The deal, which values the unit at SGD2.7 billion (US$2.09 billion), is expected to produce a pre-tax gain of US$1.8 billion for HSBC and…
As part of its agenda to curb perceived unfair competition from online retailers like Shein, Temu, and AliExpress, Europe has initiated a €3 charge on low-value e-commerce imports from China that were previously duty-free. This move constitutes a significant…
Chagee, the acclaimed Chinese tea chain, has experienced yet another boost in revenues, despite the ongoing expansion of its stores seeming to take a toll on its profit margins. Currently, Chagee owns a staggering 7531 teahouses, located primarily in Greater…
China’s market regulator recently imposed fines and seizures on seven e-commerce platforms, totaling 3.6 billion yuan (US$527.32 million), for failing to adhere to food delivery safety guidelines. The offenders include prominent companies such as Pinduoduo,…
In the coming year, France is set to present a significant challenge to online retailers, such as Shein, according to the country’s Minister for Small and Medium-Sized Businesses, Serge Papin. He spoke out on the issue last Thursday, explaining that these…
The Department of Telecommunications (DoT) in India has formally introduced its National Frequency Allocation Plan 2025 (NFAP-2025), though it has encountered opposition from mobile operators who opine it does not sufficiently address the nation’s future…
Two Singapore-based electronics and home appliance retailers, Courts and Prism+, are currently facing legal action. This action is being brought by the country’s consumer protection agency, the Competition and Consumer Commission of Singapore (CCS), due to…
South Korea’s retail industry is swiftly growing its private label (PB) business by extending beyond food and household items to include clothing, innovative digital platforms, and even international markets. This expansion comes as firms ranging from…
The South African retail market has witnessed significant disruption with the entry of Chinese e-commerce firms, Shein and Temu. Together, they constitute 3.6% of the nation’s retail sector, specifically the clothing, textile, footwear, and leather (CTFL)…
Indonesia headquartered on-demand multi-service platform and digital payment technology group Gojek and e-commerce platform Tokopedia have completed Indonesia’s largest-ever deal to create GoTo, Southeast Asia’s largest privately held technology firm. Amid…
Big data is all the rage as the key building block to prop up the emerging artificial intelligence (AI) industry. For this reason, tech giants here and abroad have gone all-out to become more data-rich to embrace the next AI era. This is true for almost all…
The three telecommunication groups under direct management of the Information and Communications Ministry (MIC) will have to develop their equitisation plans in 2017, according to the Minister of Information and Communications, Trương Minh Tuấn. The three…
Kering CEO Francois-Henri Pinault came to Korea, Wednesday, to meet owners and CEOs of retail giants here, according to industry sources. Kering, which changed its name from PPR in 2013, is the French luxury goods holding company owner of more than 20 luxury…
DBS Bank and POSB customers will be able to withdraw up to S$200 with any purchase at all Cold Storage, Market Place, Jasons and Giant stores in Singapore, the local bank announced on Thursday (Nov 5). Customers can use the complimentary service with a DBS or…
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