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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.

  • Rome to host World Retail Congress 2015

    Rome to host World Retail Congress 2015

    Now in its ninth yr, the World Retail Congress is the important assembly place for senior retail executives.

    After consultations with senior retailers around the globe, the World Retail Congress 2015 introduces many new modifications and initiatives, not the least of which is a brand new location and host metropolis, Rome. The Cavalieri Lodge is a very excellent venue for the 2015 World Retail Congress.

    Created in response to demand for a platform for retailers from all all over the world to debate the important thing points affecting the retail business, the Congress has succeeded in bringing collectively a few of the best possible audio system to assist that course of.

    The World Retail Congress program seeks to not solely mirror however to additionally lead the senior retail agenda. This has by no means been extra necessary than it’s right now because the business undergoes monumental change.

    This yr’s theme summarises the most important problem dealing with all retailers: “Retail transformation as we speak, tomorrow and past”.

    The Congress has put collectively a line-up of main retailers, newer start-ups and disruptors and exterior specialists to offer inspiration. This system will launch a number of unique analysis stories commissioned by the World Retail Congress and steered by main retailers.

    CEOs will have the ability to meet for personal dialogue periods however to additionally profit from conferences with the highest keynote audio system and in addition be a part of a specifically ready management workshop led by Oxford College’s Enterprise Faculty.

    Throughout the three days, delegates will even take pleasure in enterprise streams and workshops which might be extra interactive and intimate to make sure most output.

    And the Congress closes there shall be a Gala dinner open to all delegates and their companions to take pleasure in a really particular night in one in every of Rome’s prime places. The dinner may even reveal the winners of the 2015 World Retail Awards.

    The World Retail Congress 2015 shall be held in Rome from September Eight-10.

    What does the longer term maintain for what you are promoting?

    Over three days the Congress will dive deeper into particular subjects according to the overarching theme of transformation. These embrace:

    The worldwide agenda and retail: Main economists, authorities figures, NGOs, associations and commerce our bodies will take part to offer a future wanting perspective on political, social and environmental actions the world over and their potential impression on the business.

    Management and organisational construction: A variety of key periods will handle how retailers are defining the ‘board of the longer term’ and modernising their enterprise tradition. As well as, a specifically commissioned MBA CEO management workshop led by Oxford College’s Säid Enterprise Faculty will present perception and analysis to help CEOs in managing inner transformation.

    Sustainable Enterprise Fashions: Reworking to create a sustainable progress technique is the order of the day and this system consists of quite a few discussions and debates on this essential theme. With the give attention to worthwhile, sustainable enterprise improvement periods will assess influential elements together with the supplier-retailer relationship and the battle towards promotional ‘fever’.

    Worldwide Enlargement: Periods designed and led by those that have years of expertise on this space will present insightful dialogue on the ‘The place?’ ‘When?’ And ‘How?’ questions; in addition, regional market specialists can be available to offer in depth information on key nations in query.

    Buyer Centric Retailing: An essential a part of retail transformation features a concentrate on getting a single, actual time view of the client to construct a long-term loyal following. To help retailers in this objective, periods will concentrate on offering predictions on shopper behaviour, in addition to exploring how retailers can recapture buyer loyalty, construct belief and develop an efficient communication technique.

    Imaginative and prescient 2020: Uniting main retailers, know-how powerhouses, futurologists, teachers and

    business specialists, key periods will give attention to presenting a imaginative and prescient of retail sooner or later contemplating predictions for particular retail sectors in addition to an image of how digital, in-store, communication and operational capabilities will develop to assist retailers higher serve their corporations.

    Be a part of the Retail Elite

    The World Retail Awards are a chance in your success and achievements to be recognised as the easiest within the international retail business.

    Though these awards happen on a worldwide stage, it’s innovation, nice concepts and confirmed success that we’re rewarding, not the dimensions or location of what you are promoting. For the previous 9 years the Congress has acquired and rewarded retailers, international, nationwide and native, nice and small. 2015 can be no totally different with seven extensive ranging classes providing all retailers the distinctive alternative to be recognised by their friends for the standard of their work and the influence of their concepts.

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  • Tomei diversifies into cosmetics

    Tomei diversifies into cosmetics

    He says both skincare and gold products are in the retail business segment and … and retailer currently operates 70 jewellery retail shops in Malaysia.

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  • Singapore to remove distinction between international and domestic banking

    Singapore to remove distinction between international and domestic banking

    The Monetary Authority of Singapore (MAS) plans to change accounting rules that split domestic and offshore banking into separate ‘units’. 03 Jul 2015

    Since 1968, banks have had to separate operations into domestic banking units (DBSs) and Asian current units (ACUs). Domestic operations, which are predominantly denominated in Singapore dollars, are accounted for through a bank’s DBU, while offshore operations, which are entirely denominated in foreign currency, are accounted for through the ACU.

    However, global regulatory developments over the past five years have created a situation where the split system is no longer useful, Singapore’s minister of finance Tharman Shanmugaratnam said.

    The initial aim of the divide was to safeguard domestic financial stability, Tharman said.

    “For example, MAS imposed liquidity requirements on banks’ Singapore dollar liabilities – that is, only within the DBU. In addition, DBU activities were subject to large exposure and equity investment limits,” he said.

    The divide also made it easier to offer incentives to encourage offshore banking activities out of Singapore, Tharman said, but focusing incentives in the ACU.

    “The DBU- ACU divide served us well for decades, but has been losing its relevance,” Tharman said.

    “Since 2004, our development incentives have no longer been based on the domestic versus offshore distinction, and the divide between domestic and offshore banking has in practice become increasingly porous,” he said.

    In addition, global regulatory changes have meant that banks’ offshore activities are now subject to rules that are broadly similar to those governing DBUs in Singapore. These rules have increased the amount and quality of capital and the liquidity buffers that banks need, Tharman said.

    “These global regulatory reforms have put all banks on a sounder footing. It has also reduced the relevance of MAS rules that distinguish between offshore and domestic banking activities of foreign banks, since home regulators will now be requiring their banks to meet enhanced standards on a group-wide basis,” he said.

    Changes to MAS’s own regulations have also made the divide less relevant, Tharman said.

    All banks in Singapore will have to meet liquidity requirements across the entirety of their operations by January 2016, while banks that are designated as ‘domestic systematically important banks’ will be subject to extra measures on both domestic and offshore business, he said.

    In addition, Tharman said, “where a foreign bank branch has significant retail presence in Singapore, it will also be required to locally incorporate its retail operations. The subsidiary will be subject to the same suite of regulation as the local banks, and the same supervisory regime aimed at minimising risks to local depositors”.

    MAS will therefore remove the divide from banking regulations, and details will be released in a consultation paper by August, Tharman said.

    “There is no rush. We will implement the changes in close consultation with the banking community, and phase them in over time,” he said.

  • Japan’s households begin opening their wallets

    Japan’s households begin opening their wallets

    Japan’s households opened their wallets a bit wider than anticipated in Might, with family expenditures leaping for the primary time in additional than a yr.

    Family expenditures rose four.eight % on yr in Might, topping a Reuters ballot forecast for three.four % and marking the primary on-year improve because the nation elevated its consumption tax in April of 2014.

    Some took the leap as a transparent constructive.

    “Most individuals have been extraordinarily skeptical on the entire Japanese package deal. 90 % of out of doors observers stated there was no means a rustic in a state of decline for 20 years might flip itself round,” Mark Matthews, head of analysis for Asia at Julius Baer, stated in a telephone interview. “These good numbers present there’s some momentum within the financial system.”

    Japan’s policymakers have struggled to kick begin the financial system after many years of deflation, with the Financial institution of Japan launching an enormous easing program in 2013 as a part of “Abenomics,” Japanese Prime Minister Shinzo Abe’s plan to return the nation to progress.

    However after a consumption tax hike to eight % from 5 % in April of 2014, the financial system acquired clobbered when shoppers stopped spending, forcing the federal government to postpone a second gross sales tax initially due this October.

    Different knowledge launched concurrently the family expenditures have been extra muted. Japan’s core shopper worth index (CPI) rose zero.1 % on-year in Might, only a tad above a Reuters ballot forecast for a flat studying and down from a zero.three % rise in April. The unemployment fee was regular at three.three % in Might, as anticipated.

    A few of Japan’s financial knowledge has supported the restoration expectations, with gross home product (GDP) progress for the primary quarter revised greater to an annualized three.9 %, up from 1.5 % within the October-to-December quarter, amid better-than-expected capital spending.

    To make certain, not everyone seems to be shopping for into the restoration story.

    “The large image stays that there’s nonetheless substantial spare capability within the financial system which is dragging down costs,” Marcel Thieliant, a Japan economist at Capital Economics, stated in a word Friday. “There are scant indicators that the tighter labor market has resulted in stronger worth strain,” he added, noting that the determine was barely above expectations on account of an increase in risky recent meals costs. He expects costs will fall within the third quarter.

    Thieliant additionally does not see a lot to get enthusiastic about from the family spending knowledge.

    The rise adopted a pointy drop in April, he famous.

    “Even when spending continued to rise by one other 2 % month-on-month in June, personal consumption might subsequently have stagnated final quarter,” he stated.” The upshot is that GDP progress ought to have slowed sharply within the second quarter.”

    The Japanese yen held flat at round 123.59 towards the U.S. greenback after the info.

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  • First-half gross sales set to surge by 10% for The Mall Group

    First-half gross sales set to surge by 10% for The Mall Group

    Regardless of the shortage of clear indicators of a restoration in shopper spending, The Mall Group expects 10% retail gross sales progress within the first half of this yr.

    Government vice-president Chamnarn Maytaprechakul stated the group’s retail gross sales within the first six months have been projected to rise by 10% year-on-year, beating the general business forecast of lower than 5% progress. The retail sector has not been affected by political unrest because it was final yr. The development of tourism additionally helped drive its sharp gross sales rise.

    “Siam Paragon acquired full profit from the rebound of the tourism business. It was certainly one of our key gross sales drivers within the first half,” Mr Chamnarn stated. As of April 18, about 9.three million overseas vacationers had visited Thailand, up 23% from the identical interval final yr, reflecting vacationer confidence within the nation’s political stability, in response to the Tourism Authority of Thailand.

    The group additionally efficiently opened its new shopping center, EmQuartier on Sukhumvit Street in Bangkok, a couple of months in the past. Mr Chamnarn stated the general retail business would develop by lower than 5% within the first half due to mounting family debt and decrease farm product costs. “The general financial system has not recovered, so we’ll do our advertising actions extra effectively to cowl all product classes in each main season,” he stated.

    The central financial institution on Monday warned that a sluggish financial restoration might harm the personal sector’s monetary place and debt-servicing potential. It’s predicted that weak home consumption will proceed within the second half. At The Mall, partnerships will probably be one other technique to let the group entry a much bigger buyer base.

    The group will spend about 100 million baht to launch three advertising campaigns from tomorrow till Aug 5 to spice up gross sales by three.5 billion baht. That is a part of its plan to drive gross sales to extend by 6-7% to 53 billion baht this yr. In the meantime, Zeer Property Co, operator of Zeer Rangsit purchasing complicated, will at this time open The Hub Rangsit costing three.5 billion baht subsequent door to Zeer Rangsit.

    The three-storey constructing has been developed on an 86-rai plot with 160,000 sq. metres of gross sales area. The venture has greater than 400 tenants promoting style, luggage, leather-based merchandise and equipment. About 80% of area has been reserved.

    Within the first 5 months, Tesco Lotus opened hypermarkets in Nakhon Si Thammarat and Surin, whereas Rayong acquired a brand new Robinson Division Retailer.

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  • Hong Kong retail gross sales stabilise

    Hong Kong retail gross sales stabilise

    Authorities figures for Hong Kong retail gross sales in Might recommend the worst of the tumult seems to be over.

    The whole worth of retail gross sales in Might 2015, provisionally estimated at HK$39 billion, edged down by zero.1 per cent in contrast with the identical month in 2014. The revised estimate of the worth of complete retail gross sales in April 2015 decreased by 2.1 per cent in contrast with a yr earlier.

    For the primary 5 months of 2015, the worth of complete retail gross sales decreased by 1.eight per cent in contrast with the identical interval in 2014. As earlier reported, complete gross sales for the primary three months fell 2.three per cent.

    Higher but: After netting out the impact of worth modifications over the identical interval, the quantity of complete retail gross sales in Might 2015 elevated by four.6 per cent over a yr earlier. And for the primary 5 months of 2015, complete retail gross sales elevated by 1.three per cent.

    As anticipated, gross sales of jewelry, watches and clocks fell – by 14.9 per cent. Attire gross sales have been down simply 1.9 per cent.

    Division retailer gross sales rose 7.6 per cent and electrical items and photographic gear by 14.6 per cent.

    A authorities spokesman stated the figures confirmed relative enchancment in Might.

    “However, the drag from the slowdown in vacationer spending remained notable, because the gross sales of jewelry, watches and clocks, and helpful presents continued to register a double-digit yr on yr decline.

    “The near-term outlook for retail gross sales will nonetheless rely a lot on the efficiency of inbound tourism. But, the secure job and revenue circumstances ought to render some help to native shopper sentiment.”

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  • Japan retail gross sales proceed to strengthen

    Japan retail gross sales proceed to strengthen

    Japan retail gross sales rose a wholesome three per cent in Might – marking the second consecutive month-to-month achieve after a yr of stagnancy or decline.

    Knowledge from the Ministry of Financial system, Commerce and Business, exhibits shoppers are enjoyable their purse strings with gross sales at giant retailers rising 5.three per cent yr on yr ona  similar shops foundation.

    Retail gross sales have been depressed following the implementation of a gross sales tax improve on April 1 final yr.

    Meals, clothes and residential electronics have been the main performers in Might.

    In March, retail gross sales fell 9 per cent, though that was largely as a result of an irregular March 2014 when shoppers introduced ahead spending previous to a gross sales tax improve on April 1.

    The Financial institution of Japan says the retail figures present shoppers are extra assured, easing the strain on the financial institution to extend a stimulus program.

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  • Lawson Thailand targets 1000 shops

    Lawson Thailand targets 1000 shops

    Lawson Thailand, a three way partnership between the Japanese comfort retailer operator and an area Thai listed firm, says it plans to open 1000 shops throughout the nation.

    At present it has simply 40 buying and selling underneath the brandname Lawson 108, but it says it’s going to attain 1000 inside three years.

    Lawson Thailand is a three way partnership between Saha Pathanapibul Pcl and Lawson Inc of Japan.  Saha Pathanapibul is a subsidiary of Saha Group, Thailand’s largest shopper merchandise enterprise.

    The 2 corporations established a three way partnership in 2012 however progress up to now has been sluggish.

    Now they are saying they may concentrate on creating some extent of distinction between rival comfort retailer chains, such because the market dominant 7-Eleven, together with providing freshly cooked, able to eat meals.

    With 7-Eleven already working 8000 comfort shops in Thailand and Central Group’s Household Mart enterprise increasing, Lawson Thailand might face an uphill battle gaining market share, even with 1000 shops buying and selling.

  • Singapore’s MyRepublic enters Indonesia with fiber Internet services

    Singapore’s MyRepublic enters Indonesia with fiber Internet services

    It would seem that Singapore-based startup Internet provider MyRepublic has just launched operations in a new market: Indonesia.

    A quick look at MyRepublic’s Singapore website now shows Indonesia listed as one of the countries of operation along with Singapore and New Zealand. The New Zealand operation launched in October last year.

    MyRepublic’s Indonesian site is also live in Bahasa Indonesia and lists nine retail locations in areas such as Palembang and Surabaya.

    MyRepublic plans

    The site lists prices for all. The cheapest fiber optic plan is the Basic, which retails at US$15, while the most expensive plan Supernova retails at about US$70.

    It should be noted that the Supernova plan has a maximum download speed of 300Mbps, as opposed to the 1Gbps maximum speed MyRepublic customers in Singapore enjoy.

    This move into Indonesia, however, does not come as a surprise as one of the company’s investors, the Sinar Mas Group (who in May of 2014 invested US$3.5 million) is based in Indonesia.

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  • Korean division retailer gross sales rise

    Korean division retailer gross sales rise

    Korean division retailer gross sales are on the rise.

    Figures launched by the Ministry of Commerce, Business and Power at this time (June 29) present a second consecutive month-to-month improve in Might, boosted by meals and attire.

    However the figures ought to be taken with warning: the impression of the MERS outbreak in Korea gained’t be mirrored within the figures till June, when shoppers began staying house to scale back the danger of an infection.

    Gross sales Development of Korea’s Main Retail Channels for Might reviews a three.1 per cent improve in division retailer gross sales by the main gamers and a extra modest zero.5 per cent improve from low cost department shops.

    In April, gross sales rose 1.three per cent and zero.02 per cent respectively.

    Analysts attribute Might’s will increase to gross sales of luxurious branded items, womens informal attire, childrenswear and golfing gear.

    Meals drove low cost retailer gross sales, fuelled by discounting promotions, however childrenswear and tv gross sales subsided.

    Comfort shops continued to thrive, posting a 31.5 per cent progress, largely because of cigarette worth will increase and greater than regular gross sales of prompt and recent meals.

  • Lotte opens Jeju obligation free retailer

    Lotte opens Jeju obligation free retailer

    Lotte has opened a 6612 sqm Jeju obligation free retailer.

    The brand new retailer, constructed at a price of US$72 million, spans three flooring of the Lotte Metropolis Lodge in Jeju metropolis’s Doryeong-ro district, within the island’s CBD.

    Lotte Obligation Free says it’s almost 3 times the dimensions of the older retailer it replaces.

    Lee Hong Kyun, Lotte Obligation Free’s president, says the corporate plans to develop different leisure and cultural points of interest close by to attract much more vacationer clients to the location “Lotte Obligation Free Jeju retailer, standing on the bottom of its native company, Lotte Obligation Free Jeju Co Ltd, will make a purchasing cluster in Jeju and appeal to overseas vacationers in accordance with the tourism improvement coverage of Jeju,” he stated on the retailer’s opening ceremony.

    The brand new retailer is predominantly concentrating on Mainland Chinese language vacationers and features a cosmetics zone boasting 70 worldwide fragrance and cosmetics manufacturers.

    “Lotte Obligation Free has analysed the preferences of Chinese language vacationers and launched 270 manufacturers, together with international luxurious manufacturers, jewelry, equipment, cosmetics, watches, liquor and tobacco.” the corporate stated in a press assertion.

    “The worldwide luxurious jewelry manufacturers Bvlgari and Tiffany & Co are solely situated in Lotte Obligation Free Jeju retailer.”

  • Qantas Perth expansion good for JR/Duty Free

    Qantas Perth expansion good for JR/Duty Free

    JR/Duty Free stands to benefit from Qantas’ resumption of regular scheduled services between Perth and Singapore Changi Airport.

    Qantas’ direct Perth-Singapore service will operate five times per week, using a Boeing 737 aircraft.  Perth Airport CEO Brad Geatches said Qantas’ decision to reintroduce more scheudled frequencies is great news for Western Australians.

    “Western Australian business and leisure travellers will benefit from this direct service to Singapore and onward connections to other destinations. Singapore remains our third largest market, with Singaporean travellers the second largest source of foreign visitors to Perth,” said Geatches.

    “With the addition of Qantas’ five services weekly, there will now be in excess of 50 flights per week operating from Perth Airport connecting Western Australians to Singapore.

    “We are pleased to welcome Australia’s national carrier back to Perth Airport’s Terminal 1 and the resumption of regular international services,” he said. The Perth-Singapore service will depart Perth at midday and arrive into Singapore at 5.20pm, with the return leg departing Singapore at 6.25pm, arriving into Perth at 11.40pm.

    Since ending its regular Perth-Singapore service in May 2014, Qantas operated seasonal flights between the two cities during the peak July 2014 holiday period. Qantas also operates a seasonal Perth-Auckland service.

    Perth Airport recently commenced work on the expansion of Perth Airport’s T1 international departures lounge on level 2 which is part of a $141m international departures expansion and refurbishment, which will include the introduction of new retail and dining outlets.

    JR/Duty Free won the 10-year and two-month duty free concession at Perth Airport’s International Terminal in 2012, taking over the concession from the Nuance Group’s F1RST operation. JR/Duty Free began operating the business from November 2013

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  • Melco Crown delists from Hong Kong Exchange

    Melco Crown delists from Hong Kong Exchange

    Australian gambling operator Melco Crown has issued a corporate statement, confirming that conditions for its delisting from the Hong Kong Stock Exchange had been met as of 26 June.

    Today will represent the last day of trading by Melco Crown, as the operator expects to be fully withdrawn from the Asian exchange by 4pm Friday 3 July.

    In January Melco Crown governance had submitted the application to voluntary delist from the Hong Kong Exchange, citing reasons of cost and utility and stating that the company had not found a lack “appropriate opportunities to raise additional equity in Hong Kong” and the “very limited” volume of trading in its shares on the exchange.

    Melco Crown operator of casino enterprises in Macau and the Philippines, stated that it would allow its investor the option to transfer their stock onto its primary listing on the US Nasdaq exchange. The operator will further bear the costs of holding shares in a depositary bank for a period of 60 days following its last day of trading.

    Melco Crown further announced last week that it had entered an amendment of its loan facilities, which entitled the business to a total $1.75 billion credit facility supplied via a syndicate of banks.

     

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  • Drive-thru stores on rise in S. Korea

    Drive-thru stores on rise in S. Korea

    U.S. fast food chain McDonald’s, which opened its first drive-thru store in the country in 1992, operates 187 drive-thru stores, according to company data. The figure accounts for nearly half of its stores in Korea.

    “We’ve seen a rise in customers using drive-thru stores in suburban areas,” said a company official, adding that the fast food chain plans to raise the portion of drive-thru stores to 70 percent.

    Other franchise chains are also expanding their drive-thru stores. U.S. coffee franchise Starbucks operates 34 drive-thru stores, while local fast food chain Lotteria runs 46 drive-thru stores.

    The growing popularity of drive-thru stores has prompted non-food franchises to also open them. In April, Lotte Supermarket, an affiliate of retail conglomerate Lotte, adopted a drive-thru store where customers can do their grocery shopping.

    The trend comes as retailers are grappling to secure new growth engines amid sluggish domestic demand and rising competition. With the exception of duty-free stores, most retail channels are facing slowing growth as consumers shop from overseas or shop online.

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  • Ministop Korea fined for squeezing suppliers

    Ministop Korea fined for squeezing suppliers

    South Korea’s antitrust watchdog has slapped a 114 million gained (US$103,100) wonderful on comfort retailer chain Ministop Korea for unfair commerce practices and ordered the corporate to take corrective motion.

    The penalty towards the native affiliate of Japan’s Aeon group, one of many largest retailers in Asia, comes after Ministop Korea abused its superior place to arbitrarily change contracts with its worth added community (VAN) corporations, the Truthful Commerce Fee (FTC) stated.

    A VAN firm facilitates digital knowledge interchange (EDI), akin to bank card approval and settlement.

    “Ministop unilaterally halted dealings with two native VAN corporations in February 2011 after they did not match a proposal made by one other agency that provided appreciable financial incentives to vary its community associate,” the FTC stated.

    Through the course of, the comfort retailer chain acquired financial advantages from the prevailing VANs that originally needed to take care of their contracts however later baulked when the demand turned extreme, it stated.

    The watchdog stated the 2 VANs had accepted the change to their contracts in September 2010, which required them to pay three.5 billion gained over seven years, however when Ministop Korea requested for the signing of a revised association simply 5 months later, they rejected the decision and had their contracts terminated.

    The FTC stated it has additionally requested state prosecutors to launch a legal investigation into the case.

    The watchdog stated the newest motion towards Ministop Korea will ship a warning to giant retail chains which were cited prior to now for exploiting VAN corporations.

    “The transfer ought to assist right unfair commerce practices within the EDI sector,” it stated.

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