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Tag: China

  • UBS Donates $1 Million for Coronavirus Relief

    UBS Donates $1 Million for Coronavirus Relief

    UBS Group will donate $1 million to support efforts to contain the global spread of the novel coronavirus.

    According to the Swiss financial group, the donations will target frontline responders through domestic charity partners focusing on a range of areas including «timely delivery of medical supplies to the needy, screening and treatment of suspected cases, the development of treatments and vaccines and the construction of medical facilities in the community.

    This is a challenging time for many of our employees and customers, their families and the local community. Our thoughts are with the many impacted by the coronavirus outbreak, said David Chin, APAC head of investment banking and China country head at UBS. It is a critical time for us to give back to the community and help authorities in the most affected areas.

    In addition to a raft of Chinese firms, UBS joins foreign financial companies such as Japanese insurer Tokio Marine in supporting relief efforts in an outbreak that some estimate could result in damages surpassing the SARS crisis nearly 20 years ago.

    Meanwhile, the outbreak shows limited signs of slowing down and has now infected more than 17,000 individuals and claimed the lives of more than 360.

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  • Vietjet suspends all China flights

    Vietjet suspends all China flights

    Vietjet will stop all flights to and from China starting Saturday to try and limit the spread of the deadly coronavirus.

    The budget airline said in a statement Friday that it had prepared this plan earlier, and will cooperate with Vietnamese authorities and the World Health Organization (WHO) in taking steps to prevent the spread of the nCoV among its crew members and passengers.

    Vietjet is the first Vietnamese airline to stop China flights. At the time of writing, Vietnam Airlines and Jetstar Pacific were still operating flights to China.

    Globally, British Airways was the first airline to suspend all direct flights to and from China. Other carriers such as U.S.-based United Airlines and Indonesia-based Lion Air have suspended flights to certain Chinese cities.

    The Civil Aviation Authority of Vietnam Wednesday ordered local airlines to stop all flights between Vietnam and infected locations in China.

    The Ministry of Health confirmed Thursday that three Vietnamese have tested positive for the nCoV. One is being treated at the Thanh Hoa General Hospital in the eponymous central province and the others at the National Hospital of Tropical Diseases in Hanoi.

    As of Friday, there were five confirmed cases of infection in Vietnam. The first cases of nCoV infection detected in the country were a Chinese father and son duo. The son has recovered.

    The World Health Organization (WHO) on Friday declared a global health emergency as the death toll reached 213, all of them in China.

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  • Apple and Levi’s closing China store

    Apple and Levi’s closing China store

    Apple and Levi’s joined the growing list of international retailers shuttering stores in Mainland China as the infection rate and death toll from the coronavirus continued to grow over the weekend.

    Elsewhere, in South Korea, duty-free stores have closed and throughout Asia retailers have introduced policies for dealing with the virus aimed at protecting staff and customers.

    Apple says all of its 42 stores in Mainland China will remain closed until February 9, although customers will be able to continue to buy products on its online store.

    “Out of an abundance of caution and based on the latest advice from leading health experts, we’re closing all our corporate offices, stores and contact centers in Mainland China through February 9,” Apple said in a statement sent to CNN Business. “We will continue to closely monitor the situation and we look forward to reopening our stores as soon as possible.”

    Levi’s, meanwhile, has closed about half of its stores in the market, although China accounts for just 3 percent of its global revenue compared with 15 percent for Apple.

    Apple and Levi’s are not the only chains to have announced large-scale store closes on the mainland. Starbucks has closed more than 2000, KFC, Pizza Hut and Haidilao Hot Pot have closed stores in the worst-affected Hubei province and Ikea has closed all of its stores there.

    Shilla’s shutdown

    In Seoul, The Shilla Duty-Free closed its giant downtown store adjacent to its five-star hotel after it was confirmed a Chinese national infected with coronavirus visited the store twice in January.

    The company said it has already been rolling out disinfection operations to prevent possible contamination.

    Rival operator Lotte Duty-Free closed its Jeju Island store late Sunday after it was confirmed an infected person shopped there last month.

    “We just started banning new customers entering the shop and asking the customers to leave the outlet,” a company official told a local news outlet.

    “We will announce the date of the reopening after discussing the matter with health authorities and the Jeju provincial government officials.”

    E-Mart also closed one of its stores in Bucheon, near Seoul, after a similar confirmation of a visit by an infected patient.

    Hong Kong supermarkets see spike

    A spokesperson for Hong Kong-headquartered Dairy Farm International told Inside Retail Asia that, like other supermarket chains, its stores have experienced a spike in demand for fresh produce, along with household cleaning and hygiene products, as a result of the coronavirus.

    “In areas of high demand, we are working around the clock to restock as quickly as we can and will continue to do our best to serve the people of Hong Kong through our stores and online,” said the company, which operates the Wellcome grocery-store network.

    All of Dairy Farm’s stores in Hong Kong, including Ikeas, are operating as normal, however, the company has reinforced its sanitization and hygiene protocols.

    “In this challenging environment we remain focused on taking care of our customers and our team members, who we’ve offered flexible working arrangements to, where appropriate,” the spokesperson said.

  • AirAsia cancels all flights between Philippines and People’s Republic of China

    AirAsia cancels all flights between Philippines and People’s Republic of China

    In compliance with the Philippine government’s directive imposing travel restrictions from the People’s Republic of China, AirAsia is cancelling all its flights between the Philippines and mainland China, Hong Kong SAR and Macao SAR until further notice from the Philippine government.

    AirAsia is also extending the provisions to move flights, obtain a credit account or full refund for guests with flight bookings to/from all destinations in mainland China, Hong Kong SAR and Macao SAR.

    All flights to and from Wuhan remain suspended until 29 February 2020.

    All affected guests will be promptly notified via email or SMS. AirAsia strongly encourages guests to update their contact details using the “My Bookings” feature on airasia.com to ensure that they receive timely notifications. Guests can also check on their flights via the “Flight Status” function on airasia.com website and mobile app.

    Apart from the Philippines, certain destinations within AirAsia’s flight network have imposed travel bans for guests based on nationalities, cities of origin, travel history or the purpose of travel. Guests are advised to check with their respective governments or embassy offices prior to travel.

    The following options are available to AirAsia guests who were affected by the flight changes and travel bans:

    1. Move flight: One-time flight change to a new travel date on the same route within 30 calendar days from original flight time without additional cost, subject to seat availability. Applicable for guests affected by cancelled flights (except flights to/from Wuhan) and travel restrictions imposed; OR

    2. Credit account: Retain the value of your fare in your AirAsia BIG Loyalty account for future travel with AirAsia. The online credit account is to be redeemed for booking within 90 calendar days from the issuance date for your travel with us. The actual travel dates can be after the expiry date as long as our flight schedule is out. Applicable for all flights to/from mainland China, Hong Kong and Macao until 15 February 2020 (or 29 February 2020 for flights to/from Wuhan only) that was ticketed prior to 28 January 2020; OR

    3. Full refund: Obtain a full refund to your original payment method for the amount equivalent to your booking. Applicable for all flights to/from mainland China, Hong Kong and Macao until 15 February 2020 that was ticketed prior to 28 January 2020.

    Guests whose flights fall into the above date range can obtain a full refund in the amount equivalent to that booking in the form of original payment. Refund requests can be made with AVA at support.airasia.com. From the main menu categories available, click on “Refund” then “New Refund Request” and finally “AirAsia flights to/from Wuhan” for flights to/from Wuhan OR “China Voluntary Refund” for flights to/from other China destinations, including Hong Kong and Macao. From there, simply follow the instructions as directed by AVA.

    For bookings made through travel agents including online travel agents, refund requests are to be made via the respective travel agents.

    AirAsia assures that the safety and wellbeing of our guests and Allstars is our top priority. AirAsia is complying with advice and regulations from the local government, CAAC, global and local health authorities, including the World Health Organisation.

    AirAsia guests who are in Wuhan are advised to abide by announcements made by the Government and health authorities, and to contact their respective diplomatic missions or embassies in mainland China for assistance.

    AirAsia is closely monitoring this situation and reserves the right to announce further policies according to the latest developments.

    Follow AirAsia on Twitter (@AirAsia) and Facebook (facebook.com/AirAsia) for the latest updates, or contact our customer support team at support.airasia.com. Guests are also encouraged to check their flight status at airasia.com/flightstatus for live updates.

  • Ikea China shuting most stores in wake of coronavirus

    Ikea China shuting most stores in wake of coronavirus

    Swedish furniture and homewares chain Ikea has closed all of its mainland Chinese stores in the wake of the coronavirus outbreak.

    The decision, announced Thursday, came just hours after the company said it would shutter half its 30-strong network in the country.

    Ikea China is the latest in a long line of international retail groups to announce a curtailment of activities in the country as the death toll and infections from the Wuhan-centred virus rose rapidly this week.

    McDonald’s CEO Chris Kempczinski said the chain has closed “several hundred” stores in Hubei, but outlets in other parts of the country would remain open for now.

    On Wednesday, Starbucks said more than 2000 stores would close indefinitely, including its flagship Shanghai Roastery, although delivery services would continue from some of those locations. KFC, Pizza Hut and Haidilao Hotpot were among other restaurant chains to close part of their network.

    Tech giant Apple has closed three stores to date: Rainbow City in Nanjing, Tahoe Plaza in Fuzhou, and Vientiane City Qingdao. The company said it would reopen the stores by February 4, however, this is likely to depend on further advice from government authorities.

    Uniqlo, the Japanese fast-fashion chain, has closed about 100 stores, mainly in Hubei province where Wuhan is situated, its remaining 650 stores in Mainland China continuing to trade at the time of writing. Muji has closed about 10 stores in Wuhan’s inner-city district.

    Some of the Wuhan stores have been closed because the staff is unable to travel to work due to travel restrictions imposed by government authorities.

    Selected supermarkets are continuing to trade in affected areas of China to allow locals to purchase food and daily essentials, although some suppliers are encountering difficulty delivering products to retailers, due to traffic restrictions and a shortage of staff.

    Anne Ling, an equity analyst at Jeffries, says she expects food retailers will be relatively more resilient under the current situation. “Online delivery capability and strong fresh-produce capabilities are highlighted from this incident.”

    By retail category, fresh produce like vegetables, meat and cleaning products are selling well, with strong double-digit increase while liquor and beverage sales have declined by double digits as sales are driven by gatherings and events. “Non-food products experienced a substantial decline.”

    Ling anticipates landlords will offer tenants rental relief. “Hypermarket chains might also consider rental relief for tenants at their shopping areas.”

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  • Chinese store Nova Pets encourages owners

    Chinese store Nova Pets encourages owners

    A new grooming salon concept in China called Nova Pets allows customers to chill with their pets in a retail space.

    Located in Hangzhou, Nova Pets features a sunken cafe, playground and a swimming pool for pets.

    “The project started with an idea of creating a new type of pet store, a place where people could really socialise with their pets,” said a spokesperson for the designers Say Architects.

    Using yellow, black and gray as project’s themed colors, one of the founders Yan Zhang explained “Those are the main colours that dogs can see in their daily doggy life.”

    Nova Pets occupies a 450sqm area, half of which is dedicated to a cafe and a pet playground with the other half used for a grooming salon.

    The playground for pets is adjacent to the store’s entrance. A cafe is located on the upper floor, featuring two curved, hollow “valleys” where customers can sit and enjoy drinks, at the same time, watch their pets running around the playground.

    Say Architects also design a small tunnel with windows for animals to travel between the sunken seating areas.

    In case customers are away or use the restroom, their pets will be taken care of at Nova Pets’ “hotel”.

    The store also features instagrammable spots for photoshoots and a paddling pool for four-legged visitors.

    Say Architects described a concrete column, which lies at the centre of the floor plan, as a nova. This is also where the salon chooses its name.

    “We imagine this column to be the origin of the whole room,” explained the practice.

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  • Alipay-Owned Insurance Platform Extends Help to Coronavirus Victims

    Alipay-Owned Insurance Platform Extends Help to Coronavirus Victims

    An Alipay-owned insurance platform has offered to support families and medical staff affected by the ongoing coronavirus outbreak.

    The platform will help affected medical staff apply for coverage of 100,000 yuan ($14,000) each and 500,000 yuan ($72,000) for families of deceased victims. This follows Alibaba co-founder Jack Ma’s decision to donate $14.5 million through charitable foundations to support the development of a vaccine for the deadly virus.

    Various Alibaba-linked entities continue to expand their efforts to combat the epidemic including the group’s offer of $144 million to purchase medical materials for hospitals in the Hubei province and Wuhan – the origin of the outbreak. Alibaba Health Information Technology also said it would offer some of its services for free during the outbreak and has already provided free advice to 2.8 million people in the last week.

    Alibaba is not alone in the relief efforts with more than 30 technology and other new economy companies, including Tencent and Meituan Dianping, collectively donating more than $430 million to related causes. Altruism and branding aside, pundits believe that a move to support the government in the current crisis will bode well for the future as such new economy firms require significant amounts of funding for development which is often provided by state-backed lenders.

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  • Face masks in short supply as coronavirus threat grows

    Face masks in short supply as coronavirus threat grows

    Hanoi pharmacies are running out of masks as fears of the new coronavirus epidemic have caused demand to surge.

    Hoa of Ung Hoa District on Thursday managed to buy two boxes of masks after queueing for over an hour. For each box of 5,000, she paid VND5 million ($216), double the price she paid two weeks ago.”I was willing to pay the price since it could climb even higher in the coming days and there might be no stocks left,” she said. She retails them at the Hapulico Medicine Market in Thanh Xuan District, where masks are among the top-selling items now.

    The price of the N95 mask made by U.S. company 3M, which is said to have at least 95 percent filtration efficiency against certain non-oil based particles, has jumped almost five times from VND20,000 (86 cents) to VND90,000 ($3.88).

    Pharmacies in the capital are struggling to source more masks.Mai, a drugstore owner in Ha Dong District, said on Tuesday she did not have masks in stock. “I ordered 200 boxes [of 50 masks] on Thursday, but the manufacturer sent only 40.”She said she had never had so much difficulty buying masks and hand sanitizers as now since manufacturers are unable to keep pace with demand. She sells only one box to a customer, explaining to them it is to make sure more people can protect themselves.

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  • CapitaLand shuts six Chinese malls in response to corona outbreak

    CapitaLand shuts six Chinese malls in response to corona outbreak

    CapitaLand has closed six shopping malls in China in wake of the coronavirus outbreak and set up a task force to coordinate its response across its operations in China and other markets where it operates.

    The Singapore-headquartered company says it has also put in place business continuity plans under the leadership of Manohar Khiatani, its group senior executive director.

    The six malls were closed at the command of local governments. They are all four CapitaLand malls in Wuhan and both of its malls in Xi’an. However, supermarkets in CapitaMall Westgate, Wuhan and CapitaMall Xindicheng, Xi’an are still trading so as to allow locals to source food and essential daily supplies.

    “CapitaLand is monitoring developments of the [coronavirus] closely as the situation remains uncertain and continues to evolve,” said Lee Chee Koon, group CEO of CapitaLand Group in a statement issued Wednesday.

    “To date, the group’s business operations, including in China and Singapore, remain largely stable. Our priority is to focus on ensuring the well-being of our tenants, shoppers, guests and employees. We are all in this together during these trying times. CapitaLand will continue to work closely with the different local authorities in our markets to offer our support.”

    Beyond the closures, a raft of procedures has been implemented in malls still operational to protect tenants, staff and customers.

    CapitaLand properties in China have adopted precautionary measures including conducting temperature checks and intensifying cleaning and disinfecting of common areas. CapitaLand will conduct contact tracing and have designated premises at its properties for the isolation of persons suspected to be infected with the virus. The company is also providing hand sanitizers and face masks for tenants, shoppers, and guests.

    Trading hours of the remaining 45 malls CapitaLand operates across China have been reduced in line with directives issued by local authorities.

    In Singapore, CapitaLand has to step up cleaning procedures and made hand sanitizers available for tenants, shoppers and guests. There are also designated premises with predetermined routes within its properties for the isolation of persons suspected to be infected with the virus. Security teams will escort any suspected cases to the ambulance pickup point. CapitaLand will step up precautionary measures further where necessary.

    Employees have been told to defer all non-critical travel, especially to China and affected countries with known or suspected cases of coronavirus. Those who have recently returned from China have been advised to check their temperature twice daily for 14 days and during that time work remotely.

    “CapitaLand’s business continuity plans guide our operations which includes how and when to limit the interaction of business-critical staff, to include working from alternate sites, working from home and the use of teleconferencing,” said Khiatani in a statement.

    “Where necessary, operational personnel will be divided into primary and alternate teams. We will continue to monitor developments and the authorities’ directives, take the necessary steps to minimize impact to our operations and update our stakeholders in a timely manner.”

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  • VF Corporation sales lower in China

    VF Corporation sales lower in China

    Apparel manufacturing and retailing giant VF Corporation has reported a 30-per-cent increase in sales in China in its third quarter, to December 28.

    The huge increase helped fuel a global 6-per-cent rise in revenues to US$3.4 billion, excluding its troubled workwear business for which it has announced a strategic review, with its potential sale in the offing.

    The company’s activewear segment improved by 8 percent, with the Vans brand up by 12 percent; and the outdoor segment by 3 percent including 8-per-cent growth by The North Face.

    Group direct-to-consumer revenue rose by 7 per cent and digital revenue by 16 percent.

    Operating income from continuing operations increased 11 percent and adjusted operating income from continuing operations by 14 percent when the workwear business was excluded. “Our third-quarter performance was strong and our year-to-date results are at the high end of our long-term growth objectives,” said VF Corporation chairman Steve Rendle.

    “Despite a mixed holiday season in the US, we’re on track to deliver solid performance and are well-positioned for continued growth and value creation in the fiscal year 2021.”

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  • Airlines to refund Vietnam-China flight tickets

    Airlines to refund Vietnam-China flight tickets

    Vietnamese airlines have offered to refund customers who want to cancel their flights to and from China amid the coronavirus outbreak.

    Flag carrier Vietnam Airlines and low-cost arm Jetstar Pacific stated Friday both would refund tickets and allow free schedule changes for passengers flying to and from Chinese cities starting Friday until further notice.

    The two airlines do not currently operate direct flights to Wuhan City in central China, the epicenter of the new deadly pneumonia virus outbreak.

    Both would provide masks and gloves to passengers on its flights to and from China if requested.

    Civil Aviation Authority of Vietnam (CAAV) Thursday ordered all flight permits be canceled and the granting of new permits to all flights connected to Wuhan by both Vietnamese and foreign airlines be suspended.

    The Ministry of Health has ordered all tourists from China entering Vietnam complete health declaration forms as it combats the spread of the new coronavirus.

    Two Chinese nationals have been quarantined at Cho Ray Hospital in Ho Chi Minh City since Thursday after testing positive for the pneumonia virus.

    China on Saturday said 41 people had died and 1,300 been infected globally due to the virus.

    World Health Organization (WHO) declared the new coronavirus an “emergency in China” this week but stopped short of branding it an international concern.

    Most fatalities have involved elderly patients, many with pre-existing conditions, WHO confirmed.

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  • Peugeot To Repatriate Staff From China’s Wuhan Area After Coronavirus Outbreak

    Peugeot To Repatriate Staff From China’s Wuhan Area After Coronavirus Outbreak

    French automotive group PSA, maker of the Peugeot and Citroen brands, said in a statement it will repatriate expat staff and their families from the Wuhan area in China, which is at the center of an outbreak of coronavirus.

    It said that 38 people would be evacuated and that the initiative will be executed in full collaboration with the Chinese authorities and the French general consulate.

    PSA said the evacuees will remain in quarantine in Changsha before traveling back to their home countries.

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  • Luxury Real Estate in Singapore Draws Rich Chinese

    Luxury Real Estate in Singapore Draws Rich Chinese

    Rich Chinese continue to snap up luxury homes in the city-state as they seek a safe and calm offshore location to park their wealth.

    Protests in Hong Kong are driving rich Chinese property buyers away from the special administrative region to relatively calm and stable Singapore.

    The Lunar New Year period is a particularly busy period for property agents in Singapore catering to this group of buyers – three interviewed by the publication said inquiries among mainland Chinese in the lead up to this period typically jump by 15 percent, with demand intensifying in the past two years.

    Property cooling measures, which raised the additional buyer stamp duty on foreigners buying any residential property to 20 percent in July 2018, up from 15 percent, have had little effect on the demand for luxury apartments in Singapore – Chinese buyers of apartments S$5 million ($3.7 million) or more doubled in the third quarter of 2019 from the same period the year before, the report said.

    Most buyers purchase properties as an investment and prefer those near landmark locations, according to realtors interviewed by the publication. However, they noted that a growing number of buyers are also buying apartments with the sole purpose of parking their wealth here.

  • Banking systems experience intense Tet surge

    Banking systems experience intense Tet surge

    Banks, ATMs, and online banking systems have been overloaded towards the end of the Lunar New Year, forcing customers to wait long hours.

    Hoa went to a major bank on Hanoi’s Duy Tan Street early one recent afternoon to process the payment of a loan.

    She was happy to notice that her turn would come soon, based on the token number she received, but it took an hour for her to be called.

    The bank was full of faces weary from the long wait, which seemed 30 minutes on average. People found ways to occupy themselves, with some even taking out laptops to work while they waited. Others grew restive and frustrated and left early without bothering for their turn to come.

    A similar scene has been enacted for several days in many banks. On Tuesday (27th of the last lunar month),  the waiting room of a bank in Hanoi’s Dong Da district had around 50 customers waiting at around 3 p.m. Each and every counter was occupied, and the staff had barely any time to break.

    Long queues in front of banks have become a common sight these days. At a mall on the city’s Ba Trieu street, people were also lining up in front of ATMs. Some of the machines are broken, some were overloaded due to a large amount of transactions, and some ran out of cash.

    In highly frequented places, the number of customers seeking banking services kept increasing day after day, slowing down every operation.

    The situation was not much better with online banking systems, which have also been overloaded. Many users complained they could not access their apps, experienced system failure and encountered long delays in carrying out a transaction.

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  • AirAsia, Malindo cancel all flights bound to and from Wuhan, China

    AirAsia, Malindo cancel all flights bound to and from Wuhan, China

    AirAsia Group Bhd and Malindo Air have both halted all flights to and from Wuhan, China, in view of the coronavirus outbreak there.

    While Malindo did not specify how long the suspension will be in effect, AirAsia said the canceled flights affect all AirAsia flights bound to Wuhan from Kota Kinabalu, Bangkok and Phuket until Jan 28.

    Both airlines, in making the announcement in separate statements today, said they are closely monitoring the situation in Wuhan.

    “This is in response to the travel ban from the officials in Wuhan on the coronavirus outbreak to ensure the safety, security, and comfort of air travel to the flight crew and guests or passengers,” said Malindo.

    “Passengers who hold a valid booking for travel between Jan 23 and Feb 8 this year may contact our call center at +603-7841 5388 or walk into our ticketing office for further assistance,” it added.

    AirAsia, meanwhile, assures that the safety and wellbeing of its guests and Allstars is its top priority. AirAsia is complying with advice and regulations from global and local health authorities, including the World Health Organisation.

    “AirAsia guests who are in Wuhan are advised to abide by announcements made by the Government and health authorities, and to contact their respective diplomatic missions or embassies in China for assistance,” it said.

    It has also arranged the following alternatives for those who wish to alter their traveling plans to and from Wuhan:

    1. Reroute: Reroute to any other mainland China station for flights to Kota Kinabalu, Bangkok and Phuket without additional cost, subject to seat availability. Applicable for all flights until Feb 29, 2020, or

    2. Credit account: Retain the value of your fare in your AirAsia BIG Loyalty account for future travel with AirAsia. The online credit account is to be redeemed for booking within 90 calendar days from the issuance date for your travel with us. The actual travel dates can be after the expiry date as long as our flight schedule is out. Applicable for all flights until Feb 29, 2020, or

    3. Full refund: Obtain a full refund to your original payment method for the amount equivalent to your booking if flights are canceled. Applicable for all flights until Feb 15, 2020 and return flights from Feb 16-29, 2020.

    “Guests whose flights fall into the above date range can obtain a full refund in the amount equivalent to that booking in the form of original payment. Refund requests can be made with AVA at support.airasia.com. From the main menu categories available, click on ‘refund’ then ‘new refund request’ and finally ‘AirAsia flights to/from Wuhan’. From there, simply follow the instructions as directed by AVA.

    “For bookings made through travel agents including online travel agents, refund requests are to be made via the respective travel agents,” AirAsia added.