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The minimum wage – minimum living standard gap has been widening for years, but there is no solution in sight as workers struggle to make ends meet. Vietnam first introduced the “minimum living standard” term in its 2012 Labor Law, which requires that the…
Hanoi serviced apartment rents fell by 3 percent to a three-year low of VND547,000 (US$24.16) per square meter per month last quarter, according to Savills Vietnam. Compared to a year earlier the average rents for grades A-C apartments decreased by 4 percent…
As of September this year, furniture giant Ikea will offer sustainably generated energy to Swedish households in a move to diversify its business and offer a green approach to power supply. The STRÖMMA offer will be made in partnership with local energy…
Ikea’s shopping malls business – one of the world’s largest – has kicked off the sales process for some 500 flats at its first-ever mixed-use retail and residential development, in Changsha, southern China. Cindy Andersen, MD at Ingka Centres since February,…
Hong Kong was dethroned as the costliest city for expatriates, according to a recent survey by Mercer, after holding the top rank for three years in a row. Ashgabat, the capital of Turkmenistan, was ranked as the costliest place for expat living, according to…
Syndicated lending in Asia Pacific plunged to the slowest quarter in eight years as the coronavirus pandemic took its toll with several countries imposing lockdowns and grinding a range of business activities to a halt. Loan volumes in Asia Pacific (ex-Japan)…
Ikea’s arm Ingka Centers is to launch India’s first Ikea mixed-use destination in the outskirts of Delhi, Noida. The plan was announced after the retailer secured a 47,833sqm plot of land in Noida, Uttar Pradesh. The project will cost about US$760 million and…
Housing prices are rising faster in Hanoi’s outer districts than in areas closer to downtown, thanks to improved connectivity. Average prices in districts like Gia Lam and Nam Tu Liem rose 1.3 percent in the last quarter to $1,473 per square meter, and at 0.7…
The government believes domestic car producers have received enough support from the discount scheme, and so will not extend it. The 50 percent discount scheme on the registration fees of cars produced domestically, which came into effect on June 28 this…
The government has cut electricity prices by 10 percent for the year’s last quarter to support economic recovery from Covid-19 impacts. The discount applies to businesses and households for a maximum of 300-kilowatt-hour consumption per month from October to…
IKEA’s Ingka Investments is in talks to buy commercial property in prime locations in several big European cities after it finalised its first-ever such acquisition last month, its managing director said. The investment arm of Ingka Group, which owns most…
Ikea India is proposing an economical solution by sourcing materials from the local market to cut down the budget, according to The Economic Times. The company said it is talking to the government and other players in the market to form furniture hubs. By…
Ikea’s business in South Korea has reported 32.6-per-cent sales growth over the past fiscal year despite the impact of the coronavirus outbreak. The success of the retail business over the period has been attributed to a surge in interest in home furnishings…
Japanese sportswear retailer Asics has posted a steep drop in revenues as a consequence of the coronavirus pandemic. The firm has seen a 21.5-per-cent dip in global sales to the equivalent of US$1.4 billion in this year’s second financial quarter, and…
When choosing a place for your new home, one of the major features to consider is the neighborhood. You’re not only just buying or renting an apartment but your lifestyle will be affected one way or another based on the surrounding environment. A perfect…
Construction interruptions have delayed the expected opening date of the long-awaited Ikea Manila store. Ikea Southeast Asia has released a short video on LinkedIn summarising the company’s progress in various markets. It says that the advent of the Covid-19…
