China leads among East-Asian nations in the Global Retail Development Index, ranking second globally. Other Eastern Asian nations in the index include Malaysia (9), Indonesia (15), Sri Lanka (18), India (20), the Philippines (23) and Vietnam (28). Continue reading
Thailand’s National Council for Peace and Order (NCPO) has approved a US$23 billion project to connect two high speed railways with China’s rail network by 2021.
Plans for the Thai railways show one rail will connect the town of Nong Khai, just south of Laos’s capital Vientiane, with Map Ta Phut, located to the southeast of Bangkok. This section of rail is projected to cost 392.5 billion baht (US$12.2 billion) and will run 737 kilometers. Chiang Khong, positioned along Thailand’s northern border, will be connected to Ban Phachi, in the central Ayutthaya regions slightly north of Bangkok, along a track 655 kilometers in length at an expected construction cost of 348.8 billion baht (US$10.85 billion). Continue reading
Home to the burgeoning Chinese and Indian markets, the Asia-Pacific region now dominates global business travel spending, according to the latest findings by the Global Business Travel Association.
Global business travel is largely concentrated in three regions – Asia-Pacific, North America and Western Europe. In total, the three regions accounted for 89 percent of the world’s business spending last year. In 2013, business travel spending in Asia-Pacific accounted for 38 percent of the world’s total, more than the 21 percent for North America and 24 percent for Western Europe, the report found.
Business travel expenditure in Asia-Pacific more than doubled from 2000 to USD$392 billion last year, after growing 7.5 percent annually for more than a decade. The report expects spending to continue growing at a 10.2 percent annual pace over the next five years. Continue reading
SINGAPORE – Regulatory compliance issues and a lack of secure business communication processes are among the key challenges in corporate governance faced by companies operating in Asia-Pacific, according to the latest results of the Thomson Reuters and EY 2014 Governance Survey.
The Reuters’ report surveyed employees from the governance teams of a wide range of companies across the Asia-Pacific region, half of which are multinationals with more than five offices worldwide.
Regulatory compliance and disclosure was the most significant challenge facing governance teams from both regional head offices and subsidiary offices, reflecting the gravity of the potential consequences – including financial, legal or reputational damages – in the occasion of a regulatory breach. Continue reading
Consumers in Asia-Pacific are the most socially conscious shoppers in the world, according to a new Nielsen report.
The Nielsen Global Survey of Corporate Social Responsibility polled more than 30,000 consumers in 60 countries around the world in February and March this year in order to understand which consumers are the most supportive of socially responsible actions, which social issues are concerning these consumers the most and how sustainable practices influence consumers regarding purchasing decisions. Continue reading
DELHI – Even before PM Modi arrived in Brazil for the BRICS (Brazil, Russia, India, China, South Africa) Summit on Monday, the highly anticipated launch of the BRICS “New Development Bank” was making headlines across the developing world.
Intended to facilitate greater financial cooperation between emerging markets, the BRICS bank will seek to check the influence of the IMF, Asian Development Bank (ADB) and World Bank by offering lower cost loans with fewer conditions to developing countries as soon as 2016. Continue reading
After gaining 0.9 percent in April, China’s exports strengthened further in May, climbing 7 percent YoY to keep up with market growth projections of about 6.7 percent.
Imports, however, dropped 1.6 percent, according to data from the General Administration of Customs. Trade surplus, consequently, expanded to US$35.9 billion in May from US$18.5 billion in April. Continue reading