Author Archives: Communications Department

PHL F&B, retail sectors more profitable than telco, property

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(Source: Business Mirror | January 15, 2018) A comparative outlook at profitability indicators since 1997 shows that retail, and food-and-beverage companies have averaged higher rates of return than some of the top telecommunications and real-estate companies in the Philippines. These points to the capital-intensive nature of telco and real-estate industries, which contribute significantly to national infrastructure and development. An academic ...

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India relaxes FDI rules

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(Sources: Economic Times India, Moneycontrol | January 15, 2018) The Indian government has announced sweeping relaxations in foreign direct investment (FDI) rules in single-brand retail and other areas. Currently, only 49 percent of FDI was allowed under automatic route in singe-brand retail. Investment beyond that level required government approval. Furthermore, single-brand retailers can set off “incremental sourcing of goods from ...

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Phoenix completes FamilyMart acquisition

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(Source: Manila Standard | January 11, 2018) Phoenix Petroleum Philippines Inc., a company led by businessman Dennis Uy, said Thursday it completed the acquisition of the entire shares of SIAL CVS Retailers Inc., FamilyMart Co. Ltd. and Itochu Corp. in Philippine FamilyMart CVS Inc. “A new exclusive area franchise agreement of the Family Mart branch of convenience store in the ...

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BFP to malls: Check fire safety equipment

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(Source: Sunstar | January 13, 2018) Following the fire incidents that hit two shopping malls in Davao and Cebu, Inter-Agency Anti-Arson Task Force (IAAATF) spokesperson Jerry Candido reminded mall owners to regularly conduct inventory of their fire safety equipment to ensure that these will function in case of emergency. “They themselves must always conduct inventory of their own fire safety ...

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Asia, Oceania drive records for Fast Retailing sales and profit


(Source: Inside Retail Asia | January 12, 2018) Uniqlo parent Fast Retailing has reported a record first quarter profit as international sales eclipsed its domestic revenue for the first time. While Fast Retailing sales in Japan rose 8 per cent to 257 billion yen (US$2.31 billion) for the first quarter ended November, overseas sales surged 31 per cent to 258.2 ...

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BOC lifts exemption from x-ray inspection of ‘yellow lane’ cargoes

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(Source: SBITC Management advisory | January 11, 2018) The Bureau of Customs (BOC) has lifted the exemption from x-ray inspection of cargoes tagged under yellow lane provided in their October 13 and December 8, 2017 memoranda which include PEZA bound shipments, perishable goods except those from China, as well as shipments of multinational companies and government projects, and shipments bound to Free ...

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NPC sets deadline for submission of 2017 Annual Security Incident Report


(Source: National Privacy Commission | January 4, 2018) The National Privacy Commission (NPC) has urged Personal Information Controllers (PICs) in the country to begin submitting their 2017 Annual Security Incident Report to the National Privacy Commission (NPC), from January 3 to March 31, 2018. The law requires all PICs to submit an Annual Security Incident Report, even if the PIC concerned does ...

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Miniso Canada plans 500 stores in three years


(Source: Inside Retail Asia | January 4, 2018) Chinese discount retailer Miniso is playing a major assault in Canada with 100 stores targeted by year end and 500 within three years. Miniso is growing so fast it is difficult to keep an accurate count of its global network, but co-founder/chief designer Miyake Junya said in November he planned to have ...

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10 trends to watch in 2018

artificial intelligence

(Source: Retail in Asia | January 4, 2018) Drawing on the macro-categories of global economy, consumer shifts, and changes in the fashion system, the BoF and McKinsey & Company’s The State of Fashion 2018 report defines the ten trends to watch in 2018. 1. Predictably unpredictable Geopolitical turmoil, economic uncertainty and unpredictability are the new normal. Fashion companies and executives ...

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Traders warned against overpricing


(Source: Sunstar | January 5, 2017) The Department of Trade and Industry (DTI) on January 5, vehemently warned traders against overpricing basic goods because of the new tax reform law. Trade Secretary Ramon Lopez said violators of the newly-signed Tax Reform for Acceleration and Inclusion (Train) Act would face a fine ranging from P20,000 to P1 million. He said the ...

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