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Category: General

Retail News Asia is committed to providing both local and global retailers with the latest General Retail news throughout the Asian market. This on a daily base.

  • Causeway Bay deposed as Asia’s most-expensive retail strip

    Causeway Bay deposed as Asia’s most-expensive retail strip

    Two-thirds of retail strips in Asia Pacific saw rental declines in 2020, with Causeway Bay in Hong Kong experiencing the steepest decline at 43%, according to Cushman & Wakefield’s latest Asia Pacific Main Streets Report. Causeway Bay had been #1 across the globe in retail rental value in the last 2 years. Yet, its position was taken over by Tsim Sha Tsui in 2020. Retail rental dropped by 42% and 35% year-on-year for Central and Tsim Sha Tsui respectively. On average, retail space rental value citywide has fell by 38% in Hong Kong over the course of 2020.

    “Ownership diversity is the key differentiator between Tsim Sha Tsui and Causeway Bay retail rental performance. Ownership of Canton Road in Tsim Sha Tsui, the main shopping area, is more centralized when compared with Russell Street of Causeway Bay. In times of crisis, centralized ownership allows for more flexible measures to retain tenants, thus maintaining a more stable trade mix with a cluster of renowned brands with optimal brand impact,” said Mr. Kevin Lam, Cushman & Wakefield’s Executive Director, Head of Retail Services, Hong Kong. “Looking ahead, with international travel made possible again towards the later part of 2021, together with a stable trade mix, we would expect retail rental performance to recover first in Tsim Sha Tsui district for the same reason,” Mr. Lam continued.

    However, the retail sector in Mainland China had the least disruption amongst all the markets in the region, with average rental declines of 5%. In contrast to the Beijing Central Business District (CBD) which had a 14% decrease in rental in 2020, the Luohu district in Shenzhen saw the largest rental growth of 5%.

    Mr. Keith Chan, Cushman & Wakefield’s Director, Head of Research, Hong Kong, commented, “Hong Kong remained in the top position regardless of the average retail rental drop of 38% in 2020. Tsim Sha Tsui still sits 31% above the second place, Ginza of Tokyo. This reflects the exceptionally high retail rentals in Hong Kong regardless of the pandemic outbreak and economic downturn.”

    “The key market drivers in operation due to COVID-19, namely international border closures, lockdowns and work-from-home practices have been universally felt across the region. As a result, we see little change in Asia Pacific rent cost rankings, at least for the top 10 cities, with Hong Kong, Tokyo, Sydney, Seoul and Osaka maintaining their dominance at the top of the list,” noted Dr. Dominic Brown, Head of Insight & Analysis, Asia Pacific at Cushman & Wakefield.

  • Twitter launches Professional Profiles for businesses

    Twitter launches Professional Profiles for businesses

    Twitter has officially launched a test of its new profile type called Professional Profiles, aimed to allow businesses to display specific information to potential customers.

    Twitter Business has posted an image showing what the new profile looks like, with a short description reading: “Like our new look? Today we’re launching an exciting test of a new profile type called Professional Profiles!”

    Kayvon Beykpour, Twitter’s product lead, has thrown in additional hype, saying that “Businesses will soon be able to distinguish themselves on Twitter with distinct attributes on their Profile!”

    From the image, posted above, we can see that businesses will be able to display their address and a map of their location directly under the number of followers. According to Baykpour, though, Twitter will soon implement more features, tailored toward business.

    At the moment Twitter is testing Professional Profiles with just a handful of business owners in the US, with a rollout to a wider audience to follow in the next few months.

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  • China is Becoming a Global Center of the Pharmaceutical Industry

    China is Becoming a Global Center of the Pharmaceutical Industry

    China’s pharmaceutical industry is in the midst of a transformation. China is one of the largest markets in the world for medicine – and it is poised to become a global hub of drug innovation/a global leader in drug development technology.

    An increasing number of international investors have turned their attention to the healthcare sector as the corona crisis rages on. Weak spots in healthcare systems across the world have been exposed by the pandemic, and it has also triggered a fundamental reset in investor mindsets. One of the winners of these recent events will probably be the healthcare industry in emerging markets – which are also becoming increasingly important as a market for medicines.

    At the center of these developments is Asia, where healthcare systems are facing the same challenges as healthcare systems in the West. Changes in lifestyles and diets associated with rising wealth are having a negative impact on people’s health. For example, the rapidly growing number of overweight people worldwide is leading to a rapid increase in the number of diagnosed diabetes cases.

    A quarter of the estimated 400 million people worldwide who have diabetes live in China and almost a fifth live in ASEAN countries such as Malaysia or Thailand. At the same time, aging populations are leading to an increase in the number of patients diagnosed with cancer, neurological or circulatory diseases. This translates into steadily rising costs for national healthcare systems as more and more citizens require access to efficient and affordable healthcare.

    Asia is forging ahead. This was once again evident as the coronavirus crisis unfolded and Asian companies led the way with their solutions. Meanwhile, a raft of positive data has been published in other areas and improved the corresponding pipeline visibility. Last but not least, the process of digitization has gained momentum, while disruptive technologies are steadily improving access to healthcare.

    China has one of the largest medicine markets in the world. Its overall spending on healthcare is still low compared to many of the industrialized countries. The country is making steady progress in expanding its domestic drug research and development capabilities and its domestic drug production, which helps the government to provide an increasing number of Chinese with access to affordable healthcare.

    The Chinese government is offering tax and other financial incentives as part of a long-term plan to develop an internationally competitive homegrown biopharmaceutical industry. Beijing’s national health policy currently prioritizes efficiency and the establishment of innovation centers, which it is promoting through financial incentives. The main pillars of the government’s approach here are three vast centers of innovation – the Zhangjiang Hi-Tech Park near Shanghai, the BioBay in Suzhou and the Shenzhen innovation hub, which is often referred to as China’s Silicon Valley for pharma companies because it is already home to global companies such as Huawei.

    Sales of innovative drugs in China are forecast to triple from 117 billion yuan this year to 375 billion yuan in 2025. Local biotech companies selected as “partners of choice” for global companies seeking to enter the Chinese market and advance the development, approval and commercialization of their drugs in China will play a critical role in achieving this growth. Innovative homegrown Chinese drugs are also creating excitement worldwide and these drugs are being in-licensed by Big Pharma in the West.

    The current situation is comparable with the situation in the U.S. at the end of the 1980s when the biotech boom began, driven by scientific breakthroughs. We believe China’s medicine market is poised to become a major growth market and is currently transitioning from a «Me-Too» drug market to a «First-in-Class» or Best-in-Class market.

    Valuations in the Asian healthcare sector are currently very inexpensive and stock prices have shown a positive trend since the global coronavirus-induced crash last year. The BB Adamant Asia Pacific Healthcare Fund has outperformed the broader indexes throughout the various market cycles.

    For example, it has delivered an excess performance of more than 50 percent relative to the MSCI Asia Pacific Index since its launch at the end of April 2017. The secular upward trend in Asian healthcare markets should continue going forward, thanks in particular to the growing innovation power of the region, where companies that stand to benefit from structural trends are already winning international acclaim.

  • How to watch the Tokyo Olympics this summer on your smartphone

    How to watch the Tokyo Olympics this summer on your smartphone

    The rearranged 2020 summer Olympic games are scheduled to begin in Tokyo in July. Postponed 12 months due to the coronavirus epidemic and resulting lockdowns, the opening ceremony will be staged on 23 July, with the closing ceremony bringing the curtain down on 8 August.

    This has been one of the most talked-about summer Olympics in living memory. For much of last year, it was feared the event would make unwanted history by being cancelled. Thankfully for all concerned, including more than 11,000 athletes involved, the show goes on. Fans will be in attendance at most of the events, but overseas spectators are barred. That should make for a strong home crowd advantage for the Japanese athletes.

    That means the only way to cheer home your favourite athletes is on television or a live stream. We explain how to place bets on Tokyo 2020 at onlinesportsbetting.net, then watch the action for free on your smartphone or tablet device.

    Never miss an event with live streaming

    All major international sports betting companies offer members odds on the outcome of every event at this summer’s games. This allows you to spice up your viewing by having a financial interest in 100m, pole vault and long jump. The Olympics is an exciting watch, but it’s even better when you have the opportunity to land a profit from the results.

    Not only do leading sportsbooks offer several eye-catching betting markets on your favourite events, but they also grant members access to their modern, reliable and HD quality live streaming feeds. This means you can bet on the sport and follow the action live from anywhere in the country on the app, providing you have a strong Wi-Fi connection.

    There’s even better news for those eager to ensure they don’t miss the Olympic games after being forced to wait an extra 12 months. The live streaming service offered by betting sites is free to view if you have a registered account with a bookmaker and place a bet on the result or have funds available in your balance to make an in-play bet.

    Below we walk you through the basic steps to register for a betting account, place a wager on the Tokyo 2020 and watch the live stream for free.

    Create an online betting account

    To bet on and watch Tokyo 2020, you must have a registered online betting account with a licensed, regulated bookmaker legal in your region. Do your research and find a sportsbook that appeals to you and check out the welcome bonus offered to new customers. Most betting apps give new players a free bet when they sign up.

    Registering for a betting account and landing the welcome bonus is easy, taking just a few minutes to complete.

    Here’s how to register today;

    1. Choose your preferred sportsbook and visit their website or mobile app
    2. Click the sign-up button at the top of the homepage
    3. Fill in the registration form, providing name, age and address
    4. Create a username and password
    5. Make your first deposit and bet on sports
    6. Your free bet welcome bonus will be added

    Place a bet on Tokyo 2020

    To be eligible to watch the live streaming free of charge, most betting sites ask that you first make a bet on the outcome. This can be for as little as a 0.50 stake. When your bet is live, you can then watch the sports feed on your chosen device.

    Placing a bet on an event from Tokyo 2020 is hassle-free, taking less than 60 seconds in most cases. You can do this from home on your desktop computer or on the move by downloading the sportsbook’s mobile app.

    Here’s how to place a bet on the Olympic games;

    1. Deposit funds to your betting account from your debit or e-wallet account
    2. Click the Tokyo 2020 tab and browse the available markets
    3. Select the event you wish to bet on and make your prediction
    4. Your pick will be added to your bet slip. Input your stake
    5. Your bet will be live, and Olympic now watch the live stream at no extra cost

    Watch Tokyo 2020 on your mobile

    When your bet is live, you should click the live streaming tab. There you will find all sports events available to view. Choose the one you have placed a bet on and click the live stream link. The stream will begin just before the advertised start time.

    Sit back and enjoy the show.

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  • Hidden code reveals very useful feature for Google Assistant users

    Hidden code reveals very useful feature for Google Assistant users

    XDA Developers just discovered an interesting string of code on version 12.15.7.29 of the Google app from the Play Store. One of the changes will allow Google Assistant to complete a voice command even if the user is offline. In addition, Google apparently plans on adding a new feature called “My Actions” that will allow users to create shortcuts for their favorite Assistant requests.

    The strings found by XDA mention the creation of custom actions such as one that lowers the volume to 50% and another one that responds with the current weather. Another pair of strings said “start custom action creation” and “save this new custom action,” while another gives recommendations through a heading that says, “Actions you might like.” Google already allows users to create a chain of events, a routine if you will.

    The upcoming “My Actions” will allow users to press on a button to activate shortcuts. Where this button will end up is not known at this time and one possibility is that the controls for “My Actions” might be found on the home screen. In the past, Google put on the home screen a feature allowing users to create shortcuts for the aforementioned Google Assistant routines.

    XDA was able to bring up the setup screen for “My Actions” and it gives a couple of suggestions that can be used to try out the feature such as “set the volume to 50%” and “what’s the weather.” The most intriguing part of this discovery is the line on the setup screen that says, ” My actions can be configured to do anything Google Assistant can do, in just one tap.”

  • After update, Google Maps will no longer give you the fastest route by default

    After update, Google Maps will no longer give you the fastest route by default

    Google is also working on improving how public transportation in being handled on the app. Along with the previous information that Google Maps would display for buses, trains and the subway, an update done on the QT in some regions has resulted in the dissemination of more detailed route information. The bottom line is that those taking public transportation will be able to see step-by-step information along with timing estimates to help give Maps users a more accurate estimated time of arrival (ETA).

    Recently, public transportation updates for Google Maps was pushed out for both Lyon and Lille, France. Google is working with the public transportation agencies in different regions to provide the aforementioned enhanced public transportation data. Many large cities throughout the world already have worked with Google on this feature which allows those without a car to benefit from Google Maps.<

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  • Twitter adds option to upload and view high-quality images on Android and iOS

    Twitter adds option to upload and view high-quality images on Android and iOS

    Twitter is racing Facebook for the title of the world’s most toxic social network, not just because of the lack of features that would prevent many of its users to be mean to others, but also because it rarely punishes users who break ToS (Terms of Service).

    Last month, Twitter announced that it has started to test a new feature that would allow Android and iOS users to upload high-resolution images. The feature was only available to select users, randomly chosen by Twitter, and enabled them to choose when to load or upload high-quality images on their phones: cellular or Wi-Fi.

    More than a month after the original announcement, Twitter confirmed that that the option to upload and view 4K images on Android and iOS is now available for everyone. To start using the new feature, make sure to adjust your preferences in “Data usage” settings, especially if you’re on a capped data plan.

    You’ll probably have to wait for Twitter to roll out the new option to your phone, or you could try updating the app via Google Play Store or App Store. Once you see the option in the Data usage settings, you’ll be able to view and upload images at resolutions up to 4096 x 4096 on Twitter’s mobile app.

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  • Google Meet is now more engaging thanks to the latest update

    Google Meet is now more engaging thanks to the latest update

    It’s not the first time that Google Meet is getting a refreshed look, but if you’re using the app, you’ll be happy to know that this time it’s got a handful of new features too. Most of the improvements revealed today by Google will be available starting next month, so if you don’t see them now, that’s the reason.

    First off, Google Meet will soon be able to accommodate more content and others’ video feeds on the screen. A new option to pin and unpin Meet windows has been added too. Google announced that this specific feature will be expanded further to allow users to pin multiple tiles on their screen.

    More importantly, Google Meet users will be able to resize, reposition or hide their own video feed to make room for others people’s video feeds. Also, starting this month, Google will add a Data Saver to the Meet app, which will limit data usage on mobile networks.

    The upcoming update will also add a new AI feature called Autozoom, which should help others see you more clearly by zooming in and positioning you squarely in front of the camera. Sadly, Autozoom will be available to Google Workspace subscribers in the coming months.

    Last but not least, Google announced that it will add the ability to replace the background with a video to help maintain privacy. Initially, three options will be available for Google Meet users to choose from: a classroom, a party, and a forest.

    While many of these changes aren’t yet available in Google Meet, keep your eyes peeled for these new features in the coming weeks.

  • ​Saigon zoo posts $304,000 loss due to Covid-19

    ​Saigon zoo posts $304,000 loss due to Covid-19

    The Saigon Zoo-Botanical Garden Company Ltd has reported a VND6.8 billion ($304,300) loss for 2020 as Covid-19 kept people away from its zoo.

    Its revenues fell by 38.6 percent to VND70 billion, the lowest in six years.

    The 157-year-old zoo in District 1 closed for two months from March 20 last year as part of Covid containment measures, and again shut on July 25 when a new wave began.

    It set itself targets of VND114 billion in revenues and VND2.2 billion in pre-tax profits at the beginning of this year as the pandemic seemed to be contained.

    The zoo subsequently revised the targets downward to VND81 billion and breakeven.

    It raised ticket prices from VND30,000 to 40,000 for children and from VND50,000 to 60,000 for adults since January.

    The zoo has over 125 species of animals and birds.

  • How To Run A Sustainable Business

    How To Run A Sustainable Business

    Sustainability has become an important watchword in the business world. This is not just in relation to the ongoing climate crisis but due to the ways that sustainability can ensure steady growth in a company and avoid negative events such as bankruptcy. If you are looking to make your business sustainable, or you are thinking about starting a business with sustainability in mind from the very beginning, then you have found yourself in the right place. This guide has been created to help you understand how to get your business up and running in a sustainable manner. Read on to learn all about it.

    Cut Down on Water Bills

    Utility bills and the amount you spend on them is a massively important part of any business, especially if you work out of more than one location. That’s why, if you want to run a successful business, you should really take stock of the amount of money being spent on bills to make sure that you are running in a sustainable manner. Along with heating and electricity, water bills make up a significant amount of your budget. If you are looking for a company that can help you with this, then Utility Bidder offers great water supply for businesses.

    Invest in Renewable Energy

    When you are looking to power your office, it makes sense to invest in using renewable energies, which come with a whole heap of rewards. If you work from an office with a flat roof, then you can even invest in a solar roof that absorbs energy from the sun and can power your office. You can also install a green roof, which allows you to off-set the energy costs involved in office production with plenty of greenery. Both of these will not only save you money but are great for the environment too, achieving two aims in one.

    Go Paper Free

    Paper, which is made from trees and contributes to the destruction of rainforests around the world, should only be used as a last resort when communicating in the office. Now, with the rise of digital technology, you can easily take notes solely with computers and tablets. If you do this, however, you have to make sure that you have installed the necessary anti-virus software, which can help to combat against the threats of hackers. If you are very paranoid, then, like the Kremlin, you can always return to typewriters for the most important information.

    Use Green Internet and Hosting Providers

    If you are running an online business, the chances are that you are running it via a website provider. Nonetheless, not all the different website providers you use are created equal. Some are more ecologically-friendly than others, pleading to carbon neutrality as a way of off-setting the energy costs involved in running their site. When looking for an internet or hosting provider, take a look at their accreditation to see if they are operating by green principles.

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  • Google Photos now lets users add media files to albums when they’re offline

    Google Photos now lets users add media files to albums when they’re offline

    To add pictures or videos to your albums in Google Photos, you’ll need to be online. But that’s about to change, as Google is now rolling out a small update that makes it possible to upload content to albums even when a user is offline.

    The new feature isn’t something that you can force on your Android smartphone, so you’ll have to wait for Google to push it out to your device. Once you add your pictures and videos to an album, they will be synchronized to Google servers immediately after your smartphone goes online.

    Although there are plenty of Google Photos alternatives out there, Google’s app probably remains the best solution when it comes to sharing and storing media content online. Although you’ll soon have to pay for Google Photos storage, occasional users will still be able to take advantage of its benefits free of charge.

    Those of you who can’t wait to try out the new feature might want to download the latest version of Google Photos, but if the option to add picture and videos to albums while offline is not available even after updating, you’ll most likely have to wait for a server-side switch to flip.

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  • Ha Long casino operator posts losses for six straight quarter

    Ha Long casino operator posts losses for six straight quarter

    Royal International Corporation, which operates the largest casino in the northern town of Ha Long, has reported a post-tax loss of nearly VND27 billion ($1.17 million) in Q1.

    This is the sixth consecutive quarter that the HCMC Stock Exchange-listed company has reported a loss.

    In its financial report, the company has blamed the loss on the impacts of the new Covid-19 outbreak that happened late January this year.

    First-quarter revenues were down 24 percent year-on-year to VND27 billion.

    For the whole year, it estimates revenues of VND10.3 trillion ($447.3 million), mainly from its accommodation (hotel and villa) business.

    Last year, the company suffered a loss of VND82 billion ($3.6 million).

    For a long time, the Vietnamese government treated gambling as a social evil that was banned. Even when the allowed casinos to open, Vietnamese citizens were prohibited from them. In January 2019, the country opened certain casinos to local people as part of a three-year trial, saying it would decide the admission policy on a case-by-case basis.

    Vietnamese who want to gamble in a casino must be over 21, earn a minimum of VND10 million ($430) a month and have no criminal record or objection from their family.

    A group of casino owners recently requested the government to let Vietnamese into their establishments to make up for the absence of foreigners under Covid-19 travel restrictions.

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  • Steel makers see profits skyrocket

    Steel makers see profits skyrocket

    Steel manufacturers in Vietnam have seen profits increase as much 30-40 times in the first quarter as demand surges and prices rise.

    In Hanoi, Me Lin Steel saw a post-tax profit surge 41 times year-on-year to VND15.5 billion ($672 million), as steel prices started rising towards the end of last year and the company managed to cut costs.

    Tien Len Group in the southern province of Dong Nai saw its post-tax profit rise 30 times year-on-year to over VND120 billion, meeting half of this year’s target.

    Meanwhile, the Thai Nguyen Iron and Steel (TISCO) company in the northern province of Thai Nguyen, which has been reporting repeated losses, posted its highest first-quarter profit in the last three years at VND44 billion.

    The Hoa Phat Group has not released its profit figures, but saw March sales hitting a new record one million tons, the highest monthly figure ever.

    The profit surge has happened as steel prices skyrocket due to limited availability of materials from China and India even as the global economy recovers from Covid-19 impacts.

    Material prices have risen 30-40 percent from early March and are expected to continue rising until the end of the third quarter, according to the Vietnam Steel Association.

    Analysts with leading brokerage SSI Securities Corporation have said that local steel producers are benefiting from the recovery of the real estate market, foreign direct investment and public spending on infrastructure.

    Some big companies, like HPG of steelmaker Hoa Phat Group, can take advantage of the low supply of hot-rolled coil steel and do even better next year, they said.

  • Fuji Xerox changes name to FUJIFILM Business Innovation

    Fuji Xerox changes name to FUJIFILM Business Innovation

    Brand change reflects corporate strategic direction and ongoing commitment to innovation. FUJIFILM Business Innovation Vietnam Company Limited (formerly known as ‘Fuji Xerox Vietnam’) today announced it had changed its name as part of a region-wide rebranding initiative, following the name change of its parent company, Fuji Xerox Co., Ltd., to FUJIFILM Business Innovation Corp.

    The move follows Fuji Xerox’s decision to end its technology agreement with Xerox corporation on the agreement’s expiration date of March 31, which provided for brand licenses, technology and sales territories. The name change takes place with immediate effect.

    As FUJIFILM Business Innovation Vietnam Co., Ltd, the company will continue to offer its core printing and document technologies and services, in addition to an expanding portfolio of enterprise software solutions and managed print room services.

    While the company will continue to sell existing products under the Fuji Xerox brand, it will also commence sales and marketing activities of new products under the Fujifilm brand.

    Over the years, Fujifilm’s considerable research and intellectual property has yielded an array of new applications for its technologies, such as using microporous photographic film technology to create yeast filters used in brewing beer, or creating lightweight sensors from the company’s Fujinon lens technology designed especially for outer space and carried aboard satellites.FUJIFILM Business Innovation is one of more than 300 subsidiaries in the FUJIFILM Holdings portfolio, including leaders in diverse fields such as healthcare, biotechnology, imaging, and photography.

    FUJIFILM Business Innovation offers innovation to businesses globally to help maximize their organizational strengths. The company has pioneered numerous technologies and accumulated expertise since being established as Fuji Xerox in Tokyo in 1962.

    As a $9 billion enterprise with approximately 40,000 employees globally, the company portfolio includes R&D, manufacturing and sales of world-class multifunction printers, production printers and IT solutions, and business process outsourcing services.

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  • Pandemic grounds 39 Vietnam aircraft

    Pandemic grounds 39 Vietnam aircraft

    Vietnam had 39 aircraft, or over 14 percent of its fleet, grounded in the first quarter after a new Covid-19 outbreak cut travel demand.

    Eighteen of the grounded aircraft belonged to national flag carrier Vietnam Airlines, 14 to budget carrier Vietjet, four to Pacific Airlines and three to Bamboo Airways, according to the Civil Aviation Authority of Vietnam (CAAV).

    Vietnam’s fleet of 269 aircraft is 13 more than it had last year.

    The country closed the borders and canceled all international flights in March last year, allowing in only certain categories of people with stringent conditions.

    Vietnamese carriers served 5.8 million passengers in the first quarter this year, down 45 percent year-on-year.

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