Tag: regulation

Retail Asia06/09/2021
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Cryptocurrency exchange Binance has responded to a warning by Singapore’s regulator by removing some of its offerings in the city-state. Binance will cease Singapore dollar trading pairs and payment options, according to a blog post over the weekend, alongside the removal of its app from Singapore’s online stores. The halt will begin as of Friday […]

Retail Asia29/11/2019
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The People’s Bank of China will introduce new standards in 17 areas, including blockchain, cloud services and artificial intelligence. China has plans to step up regulation in 17 areas of fintech to «guide the application of new technologies» applied across the financial industry, according to an article published by state news portal Xinhua. Speaking at the […]

Retail Asia13/02/2019
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3min0
Prosecutors in Ho Chi Minh City have appealed a verdict ordering Grab to pay compensation to domestic taxi firm Vinasun. They want the appeal court to quash the order requiring the Singapore ride-hailing firm to pay VND4.8 billion ($206,000) in compensation for alleged losses and reject all of Vinasun’s demands. Grab violated a pilot transport ministry […]

Retail Asia06/02/2019
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Retail giant Walmart may exit Flipkart after India’s new Foreign Direct Investment (FDI) norms for e-commerce companies came into force, US investment banker Morgan Stanley has warned. “An exit is likely, not completely out of the question, with the Indian e-commerce market becoming more complicated,” the report by Morgan Stanley said late Monday. According to the report, Walmart-Flikkart saga might turn […]

Retail Asia05/02/2019
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Leading Indian e-tailer Snapdeal on Tuesday supported the implementation of revised Foreign Direct Investment (FDI) policy on e-commerce from February 1. “Snapdeal supports the immediate implementation of the current FDI policy on e-commerce so that marketplaces are not misused to run inventory operations,” Delhi-based Snapdeal told IANS in a statement. The Ministry of Commerce and Industry on […]

Retail Asia28/01/2019
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4min0
Several global business leaders have raised concerns over the evolving regulatory challenges concerning the e-commerce sector in India and said they want a stable policy regime to help this space achieve its robust growth and investment potential. According to a report, multiple business leaders attending the World Economic Forum Annual Meeting here said there are […]

Retail Asia23/01/2019
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2min0
The American subsidiary of Korean tech giant Samsung Electronics spent $3.12 million on lobbying U.S. politicians and officials last year, the second-largest amount following 2017, data from a Washington-based research group showed Monday. Samsung Electronics’ lobbying expense was the ninth largest among electronics companies operating in the United States, moving up two notches from a […]

Retail Asia18/01/2019
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6min0
The government is preparing to launch regulations fixing the rates drivers and riders for ride-hailing services such as Grab and Go-Jek receive, two officials said this week, creating potential obstacles for the companies’ expansion. The regulations would meet drivers’ demands for more oversight and higher rates but there are concerns that the rising costs to the companies could […]

Retail Asia18/01/2019
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3min0
The Ministry of Finance said on Monday that it will impose new rules requiring e-commerce sellers to share data with the authorities, while also stressing that they must pay taxes. Surging smartphone use and a rising middle-class income in Indonesia, home to 260 million people, has made its e-commerce industry a battleground for foreign investors. […]

Retail Asia14/01/2019
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A Seoul court fined BMW Korea 14.5 billion won ($12.9 million) for manipulating documents on emissions to sell some 29,000 vehicles in Korea. The Seoul Central District Court announced Thursday that the local unit of BMW is guilty of violating customs law. The automaker was found guilty of forging emissions test papers from 2011 to […]

Retail Asia11/01/2019
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3min0
Indonesia’s Go-Jek suffered a setback to its expansion plans on Wednesday after the transportation regulator in the Philippines rejected its application to launch a ride-hailing service, saying its domestic unit did not meet local ownership criteria. However, the setback may only be temporary as the firm, whose backers include Google, could appeal the decision or […]

Retail Asia10/01/2019
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5min0
Rising interest rates, Malaysia’s slowing gross domestic product growth and unfavourable government policies will limit share price upside for Malaysian property development companies, said CGS-CIMB.Although it expects the property companies in its coverage universe to post positive earnings growth this year, CGS-CIMB said share price upside will be limited and the sector is unlikely to […]

Retail Asia08/01/2019
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3min0
The Government needs to create a level-playing field for both domestic and foreign e-commerce platforms through a comprehensive e-commerce policy, said Pradeep S. Mehta, Secretary General, CUTS International on Sunday. He noted that the current norms for the segment are applicable to foreign online retailers and this might create a discriminatory environment towards the domestic players. “The Government […]

Retail Asia08/01/2019
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2min0
South Korea is to ban big-time supermarkets and retailers nationwide from selling single-use plastic bags in an attempt to conserve natural resources and reduce recyclable waste. The ban will come into effect on Tuesday as part of a revised law on conserving resources and encouraging the reuse of recyclable waste. Subject to the ban are 2000 outlets of […]


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