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Retail Asia23/01/2017

Lippo Group is exploring investment possibilities in the eastern province of Nusa Tenggara, which borders Timor Leste, to generate development and improve living standards in the region. “Increased investments in the border region is very important as it can help to improve the welfare of the local population. We are now studying the regions investment […]

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Retail Asia20/01/2017

Lingerie giant Victoria’s Secret, famed for its racy bras and thongs, has pledged to trace the sources of its wood-based fabrics, joining the ranks of fashion companies addressing human rights and deforestation, its parent company said. In a new policy statement, parent company L Brands said it aimed to eliminate sources of wood pulp, used […]

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Retail Asia20/01/2017

UCWeb, part of Alibaba Mobile Business Group, plans to invest R200 crore over the next two years in India and Indonesia. The funds will primarily be used to make use of user-generated content in India via its news distribution and content platform, UC News. Jack Huang, president of overseas business, Alibaba Mobile Business Group said, […]

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Retail Asia20/01/2017

Indonesia’s CT Corp. is partnering with cinema operators to open movie theaters in its commercial complexes. The retail and media conglomerate hopes to tap growing demand for entertainment and gain an edge over other retailers. On Wednesday, CT retail arm Trans Retail announced a partnership with Graha Layar Prima, operator of the CGV cinema chain (formerly known […]

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Retail Asia20/01/2017

Bank Indonesia (BI) has kept its 7-days reverse repo rate at 4.75 percent. Other monetary benchmark rates such as deposit facility rate and lending facility rate have also been kept at 4 and 5.5 percent. “The decision was made by BI to preserve domestic macroeconomic stability,” Bank Indonesia spokesman Tirta Segara said yesterday. As such, […]

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Retail Asia19/01/2017

Greenpeace International launched a new report on Tuesday, January 17, 2017, accusing British HSBC of supporting deforestation. The report stated that British HSBC provided financial services to palm oil companies that are causing rainforest destruction and human rights abuses in Indonesia. The report titled “Dirty Bankers: How HSBC is financing forest destruction for palm oil“, […]

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Retail Asia19/01/2017

EazyDiner, a restaurant booking and reviews platform, is in talks with potential investors to raise a fresh round of funding to expand its international footprint in the New Year. The two-year-old company, which was co-founded by media personality Vir Sanghvi and six professionals with a background in food, beverages and hospitality sectors, has targeted Indonesia […]

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Retail Asia19/01/2017

PT Indosat Ooredoo is ready to launch its 4.5G technology in 2017 that is two times faster than its 4G predecessor, said a company spokesman. “We have been developing the 4.5G technology since 2012 and we are ready to launch this year, starting with the introduction of new technological infrastructures such as modernized BTS (Base […]

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Retail Asia19/01/2017

The regulations require foreign banks to buy more than one bank, and that the targets must not be strong institutions. KBank president Pipit Aneaknithi said yesterday that the bank currently had partnerships with two banks in Indonesia, and was prepared in terms of facilities and capital to establish its own footprint in the Indonesian market. […]

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Retail Asia19/01/2017

Director General of Tax Ken Dwijugiasteadi gave an assurance on Wednesday that he would summon Google representatives to confirm data that it submitted regarding the companys revenue in Indonesia. “I have the data, so I will ask for their confirmation on whether the figures that they submitted are accurate,” said Dwijugiasteadi. He did not mention […]

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Retail Asia19/01/2017

Shopping, entertainment and leisure may be the three words synonymous with Hong Kong. However, those are no longer the only reasons for Indonesians to visit the region as it has become a destination to pursue higher education. Phillip Beh, chairman of the University of Hong Kong (HKU) Undergraduate Admissions Committee told on Saturday that the […]

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Retail Asia19/01/2017

Indonesia’s central bank is widely expected to keep its benchmark policy rate unchanged on Thursday as it monitors the rupiah’s movement at a time of global uncertainty and price pressures at home. Bank Indonesia (BI) cut its benchmark six times last year, by 150 basis points, to 4.75% to aid economic growth. During 2016, the […]

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Retail Asia16/01/2017

Life insurer Sun Life Indonesia aims to have more qualified agents to market their products rather than just make the numbers, the company top executive has said. The firm gathered on Friday 1,000 of its most high-achieving agents for the annual “Year Start” event in Jakarta to brief them of the insurer’s vision this year […]

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Retail Asia16/01/2017

The number of visits by Chinese tourists to Bali rose 41.28 percent to 907,028 in the first 11 months of 2016 from 642,000 in the same period in 2015. “Most of them flew directly to Bali via the Denpasar International Airport of Ngurah Rai with only 886 of the visits by sea as passengers of […]

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Retail Asia16/01/2017

The Indonesian business partner of President-elect Donald Trump will be attending next week’s inauguration and also plans business meetings with Trump family members, his spokesman said Friday. Trump’s ties to Hary Tanoesoedibjo are among the many conflicts of interest he could face as the 45th U.S. president. The property billionaire’s presidency is shaping up to […]

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Retail Asia16/01/2017

The head of Indonesias National Development Planning Agency (Bappenas), Bambang Brodjonegoro, has said household consumption and inflation will be the key to achieving higher economic growth in 2018. “To ensure consistent growth, the best recipe is to maintain the rise in household consumption, while keeping the growth at five percent or more,” Bambang said as […]

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Retail Asia16/01/2017

Indonesia is hoping for more investment from Japan after the scheduled meeting between President Joko Widodo and Japans Prime Minister Shinzo Abe. This was said by Thomas Lembong, the chief of the Indonesian Investment Coordinating Board (BKPM), here on Friday. Shinzo Abe is scheduled to arrive in Indonesia for a two-day state visit on Sunday […]

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Retail Asia16/01/2017

Banten recorded a 28.43% increase in exports to US$941.27 million in November 2016 from the same period a year earlier. The increase was attributable mainly to 27.08 percent in the exports of commodities other than oil and gas, according to the regional office of the Central Bureau of Statistics (BPS). The exports in November also […]

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Retail Asia16/01/2017

Bank Indonesia (BI) had forecast that the countrys current account deficit last year would fall to 1.8 percent of the national gross domestic product (GDP) as compared to 2.06 percent a year earlier. The decline in the current account deficit would chiefly be the result of steady trade surplus, BI Deputy Governor Perry Warjiyo stated […]

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Retail Asia15/01/2017

The Indonesian Seaweed Association (ARLI) estimated that the countrys exports of seaweed shrank 30 percent in value from US$205.4 million in 2015. ARLI general chairman Safari Azis attributed the decline to weak demand amid the global economic crisis and U.S. policy in organic products. “In 2016, (seaweed exports) dropped around 30 percent . There was […]

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