Asean ministers meet in Manila to discuss reducing economic dependence on the US and China amid rising trade tensions
Amid growing trade tensions, the Association of Southeast Asian Nations (Asean) is intensifying efforts to reduce its economic dependence on both the United States and China. Economic ministers from Asean convened in Manila on Friday, highlighting the urgency of seeking new markets and bolstering regional cooperation to mitigate uncertainties in global supply chains exacerbated by recent U.S. tariff investigations. Asean's economic framework focuses on strengthening the confidence of business and investors within the bloc. In their latest statement, ministers underscored the commitment to collaborating with industry stakeholders, external partners, and development organizations. The goal is to reinforce regional supply chains... [Continue Reading]
SF Express to Implement Temporary Fuel Surcharges for Deliveries in Hong Kong and Macau
SF Express, China's largest courier service, has announced the introduction of temporary fuel surcharges for local document and parcel deliveries within Hong Kong and Macau. Starting Monday, the surcharge will be set at HK$1 (approximately 13 US cents) for deliveries in Hong Kong and MOP$1 for services in Macau. This decision comes in response to significant fluctuations in global oil prices, as the company aims to manage its logistics resources effectively in an unstable economic environment. The Shenzhen-based company issued a statement indicating that the surcharge measures are part of its broader strategy to maintain stable and efficient delivery services... [Continue Reading]
Victorian government agrees to $125 million settlement for businesses affected by extended COVID-19 lockdowns
The Victorian government has agreed to a $125 million settlement related to one of the world’s most extended COVID-19 lockdowns, compensating businesses that faced significant financial losses. This decision follows a class action lawsuit brought forth by thousands of businesses, including the lead plaintiff 5 Boroughs NY Pty Ltd, which argued that the government was responsible for economic damages incurred due to lockdown measures enforced from July to October. The class action lawsuit was originally set to go to trial on March 10 but was postponed, leading to a directions hearing at the Supreme Court in Melbourne on March 16.... [Continue Reading]
Businesses affected by one of world’s longest Covid lockdowns to receive $125m from Victorian government
Class action settles after retailers argued state government should pay them for economic loss resulting from pandemic lockdown Businesses affected by one of the world’s longest Covid-19 lockdowns will receive $125m from taxpayers after a state government agreed to settle the matter.A class action was brought in the supreme court on behalf of businesses affected financially by Victoria’s 2020 lockdowns. Continue reading... [Continue Reading]
Guess says it will shut all mainland China stores amid retail rethink
US fashion brand Guess has told customers it will close all its stores in mainland China by the end of March, pending a new business model at a time when a growing number of international fashion retailers retreat from the market amid what analysts believe are issues including weak localisation and slow decision-making. Other foreign brands that have withdrawn entirely from mainland China in recent years include US label Old Navy, UK brand Topshop, and several labels owned by Spanish fashion... [Continue Reading]
China’s economy starts 2026 strongly as retail sales, investment rise
China’s economy got off to a strong start in 2026, as several indicators registered expectation-beating expansions in the first two months – though analysts cautioned the imminent energy crisis caused by the US-Israel war in Iran would present challenges for Beijing and the world at large in the months to come. Resilience in industrial output and retail sales, as well as a small expansion in fixed-asset investment, will provide a vital boost to Beijing as it strives to achieve an economic growth... [Continue Reading]
China mall shuffle: as EVs exit, who’s filling the ground-floor showrooms?
Several years ago, prime ground-floor spaces in major shopping malls across Beijing and Shanghai’s business districts were commonly occupied by electric vehicle (EV) showrooms, with staff often escorting customers to car parks for test drives. Many of these stores have now closed amid sluggish EV sales – yet mall owners have not been left disappointed. Instead, a new retail landscape is emerging, filled with tenants who are proving to be even more effective at drawing crowds and boosting rental... [Continue Reading]
Chinese bubble tea chain Mixue straps in for theme park project
A budget bubble tea chain from China best known for its cheap ice creams and drinks may soon be adding roller coasters and immersive shows to its menu. Mixue, boasting more stores than McDonald’s and growing rapidly outside China, is planning to build a theme park at its headquarters in Zhengzhou, the capital of central China’s Henan province. The park will be based on its Snow King mascot, a singing snowman that has become one of Chinese retailing’s most recognisable intellectual properties... [Continue Reading]
Academy Awards to Enhance Security Amid FBI Warnings of Potential Drone Attack from Iran
The Academy Awards organizers are ramping up security protocols as the FBI has issued warnings regarding a potential drone attack from Iran. Following a recent escalation in hostilities between the United States and Iran, the threat now extends to California, where authorities are cautioning about possible Iranian actions against U.S. locations. The current tensions arose after the United States launched a significant military operation to target Iran's uranium enrichment facilities and eliminate its Supreme Leader, Ayatollah Ali Khamenei. Reports indicate that this intervention has led to a humanitarian crisis in Iran, claiming at least 1,348 lives and displacing approximately 3.2... [Continue Reading]
Fire near Glasgow Central railway station causes indefinite closure and significant travel disruptions
A fire that broke out near Glasgow Central railway station has led to significant travel disruptions today, forcing the station to close indefinitely. The incident occurred at a vape shop located on Union Street, and the damage has resulted in a partial station collapse, amplifying concerns for passenger safety and operational capacity. National Rail has issued a statement confirming that National Rail operations will be disrupted throughout the day. Specifically, no trains will be able to run to or from the high-level platforms of Scotland's busiest station, while services through low-level tracks will not stop at Glasgow Central. They noted... [Continue Reading]
