EU Parliament wants to strike down Philippines’ zero-tariff export status
MANILA, Sept 18 (Mabuhay) — Dute to “deteriorating” human rights situation in the Philippines, the European Parliament is pushing for the revocation of the country’s exports tariff exemption. Under the Generalized Scheme of Preferences Plus (GSP+) – a mechanism that gives developing countries the privilege of exporting zero-duty merchandise to EU-member states – some of […]
Isko closes shops with items labeling Manila ‘province of China’
MANILA, Aug 21 (Mabuhay) — Manila Mayor Francisco ‘Isko Moreno’ Domagoso ordered the closure of business establishments selling products with the label “Manila, province of China”. Four business establishments in Binondo, Manila were closed by the Bureau of Permits and Licensing Office (BPLO) of Manila led by Levi Facundo and Major Jhun Ibay of the […]
Solon seeks blacklisting of Chinese beauty product for listing Manila as ‘province of China’
MANILA, Aug 20 (Mabuhay) — PBA party-list Representative Jericho Nograles has called on authorities to investigate and blacklist the Chinese beauty product distributed locally after it listed its Manila address as a “province” of China. Nograles has sent letters to the Department of Trade and Industry and the Food and Drug Administration to complain about […]
Adult joblessness surged to record-high 45.5% in July — SWS poll
MANILA, Aug 17 (Mabuhay) — Adult joblessness in the Philippines rose to a record-high of 45.5% in July with half of the unemployed saying they lost their jobs during the coronavirus pandemic, a recent poll of the Social Weather Stations (SWS) revealed. According to the results of the SWS National Mobile Phone Survey, adult joblessness […]
PH imposes temporary ban on chicken imports from Brazil
MANILA, Aug 15 (Mabuhay) — The Department of Agriculture (DA) has imposed a temporary ban on the import of poultry meat from Brazil as a precautionary measure after the detection of SARS-COV-2, the causative agent of the coronavirus disease 2019 (Covid-19), in chicken wings imported from the country. The ban was contained in a memorandum […]
1 in 4 MSMEs closed due to COVID-19 pandemic– trade chief
MANILA, Aug 8 (Mabuhay) — The COVID-19 pandemic has shuttered about a quarter of the country’s micro, small, and medium enterprises (MSMEs), the trade department said Friday, as authorities lined up measures to lift the economy from recession. About 26 percent of 1.5 million MSMEs were “partially or temporarily closed” by the pandemic, 52 percent […]
Palace concerned as economy plunges into recession
MANILA, Aug 7 (Mabuhay)– Malacañang on Thursday expressed concern over the state of the economy which slipped into a recession for the first time in nearly three decades. The economy shrank by a record 16.5% in the April to June period when lockdowns meant to prevent the spread of COVID-19 shut down around 75% of […]
Philippine economy nosedives into recession
MANILA, Aug 6 (Mabuhay) — The Philippine economy plunged further in the second quarter to mark its worst performance on record, bringing the country to a technical recession amid the COVID-19 pandemic. In a virtual briefing on Thursday, the Philippine Statistics Authority (PSA) said the economy contracted by 16.5% during the April to June period. […]
Gov’t debt balloons to record P9.05T as of end-June as borrowing increased due to COVID-19
MANILA, July 29 (Mabuhay) — The national government’s outstanding debt swelled to a record P9.054 trillion, breaching P9-trillion mark, as of end-June as the state ramped up borrowing to support COVID-19 response and recovery efforts, data released by the Bureau of the Treasury (BTr) showed Wednesday. The end-June outstanding government debt is 1.8% higher than […]
BIR maintains POGOs should pay 5% franchise tax
MANILA, July 28 (Mabuhay) — The Bureau of Internal Revenue (BIR) has maintained that foreign-based Philippine Offshore Gaming Operators (POGOs) should pay the 5% franchise tax before they can resume their operations. In a statement, the taxman said the payment of 5% franchise tax on POGOs is clearly stated in a memorandum circular issued by […]
House panel OKs proposed 12% VAT on some digital service providers
MANILA, July 29 (Mabuhay) — The House ways and means panel has approved a bill seeking to impose a 12% Value Added Tax (VAT) on some foreign and local companies providing goods and services via digital and electronic platforms. Still unnumbered, the substitute bill seeks to amend Section 105-A of the National Internal Revenue with […]
ADB loans to Philippines to reach record high $4.2B in 2020
MANILA, July 24 (Mabuhay) — Loans of the Asian Development Bank (ADB) to the Philippines are expected to reach a record-high $4.207 billion this year, with the lion’s share going to efforts against the coronavirus disease 2019. According to ADB Philippines country director Kelly Bird, the ADB’s 2020 lending program is the biggest so far […]
Dingdong’s delivery service app hires, helps out-of-work showbiz workers
MANILA, July 22 (Mabuhay) — Dingdong Dantes’ food delivery service app has been hiring showbiz workers who lost their jobs amid the community quarantine. The riders were given a five-day training with the help of Yes Pinoy Foundation and other agencies. Carlo Kaunes, a stuntman of “Descendants of the Sun,” said he has been feeling […]
‘Build, Build, Build’ important to revive PH economy
MANILA, (Mabuhay) — The government remains committed to implement its ambitious “Build, Build, Build” infrastructure program to revive the country’s economy that entered recession due to the coronavirus disease 2019 (Covid-19) pandemic, Malacañang said on Thursday. “Kabahagi pa rin po at importante pa rin ang papel ng ‘Build, Build, Build’ para sa ating recovery mula […]
PH cannot afford total reopening of economy — Duterte
MANILA, (Mabuhay) — The Philippines cannot follow other countries’ move to completely reopen the economy amid the coronavirus disease 2019 (Covid-19) pandemic, President Rodrigo Duterte said on Tuesday. In a taped public address aired on state-run PTV-4 early Wednesday, Duterte said he can only order the gradual reopening of the Philippine economy. “We have to […]
Wirecard scandal used names of PH banks to ‘cover perpetrators tracks’ — BSP Diokno
MANILA, July 6 (Mabuhay) — The Wirecard scandal used the names of the country’s top lenders to cover fraudsters tracks, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday. During a Malacanang video conference, Diokno reiterated that the missing $2.1 billion of the German payment provider did not enter the country’s financial system. “The international […]
Foreign business travelers may be allowed entry to Philippines under MGCQ– DOT exec
MANILA, (Mabuhay) — Business travelers from other countries may be allowed to enter the Philippines once quarantine restrictions have been eased to modified general community quarantine (GCQ), an official of the Department of Tourism (DOT) said Sunday. Tourism Undersecretary Bong Bengzon said that it is the Inter-Agency Task Force for the Management of Emerging Infectious […]
BSP pegs Q2 economic performance at -5.7% to -6.7%, bringing Philippines to technical recession
MANILA, June 29 (Mabuhay) — The Philippine economy could contract by as much as 6.7% in the second quarter, which would put the Philippines in a technical recession, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Monday. According to Diokno, the economy is likely to register an economic performance ranging between -5.7% and -6.7% […]
$3.1B of ‘hot money’ exited PHL in January-May — BSP
MANILA, (Mabuhay) — Foreign portfolio investments (FPI) or “hot money” yielded a net outflow of $3.1 billion million in the first five months of 2020 due to the impact of COVID-19 pandemic and other external pressures, the Bangko Sentral ng Pilipinas (BSP) said Thursday. FPI is also called hot money because of the ease by […]
IMF sees Philippine economy shrinking further by 3.6% in 2020
MANILA, June 25 (Mabuhay) — The Philippine economy will contract further this year due to the global economic disruption brought about by the COVID-19 pandemic, International Monetary Fund projections indicate. In its World Economic Outlook update released Wednesday night, the IMF expected the Philippine’s gross domestic product (GDP) to shrink by 3.6% in 2020. This […]
Business tycoon Danding Cojuangco Jr passes away at 85
MANILA, June 17 (Mabuhay) — Business tycoon Eduardo “Danding” Cojuangco Jr. has passed away. Cojuangco’s death was announced by San Miguel Corporation, of which he was chairman and chief executive officer, in a statement on Wednesday. “San Miguel Corporation announces the passing of its Chairman and Chief Executive Officer, Mr. Eduardo M. Cojuangco Jr., on […]
DTI supports legislation to boost e-commerce law in PH
MANILA, June 15 (Mabuhay) — The Department of Trade and Industry (DTI), in commemoration of the 20th year of Republic Act 8792 or the Electronic Commerce Act of 2000, has committed to implement policies to strengthen and grow e-commerce in the country while supporting current legislative measures by Congress. “Twenty years after this pioneering legislation […]
LBC reinforces commitment to move lives of Filipinos
Manila, Philippines – LBC Express, the leading courier service provider in the Philippines, reinforces its commitment to serve Filipinos by connecting them with their loved ones worldwide. With branches and partners in Australia, Bahrain, Brunei, Canada, Germany, Guam, Hong Kong, Italy, Kuwait, Malaysia, the Philippines, Qatar, Saipan, Saudi Arabia, Singapore, South Korea, Spain, Taiwan, the […]
Phone firms and the quest for the 5G Holy Grail
(Barcelona-AFP) – Lightning-quick downloads, driverless cars and remote surgery: telecom firms are racing to develop a new generation of “5G” mobile networks that could start to change the world in five years. Executives and regulators from Asia, Europe and the United States jousted to define their quest for the 5G Holy Grail on Tuesday at […]
One in four Americans wishes their partner would STOP spending this Valentine’s Day
(Relaxnews) – Couples will be busy planning how to splash out on their other halves in the run up to Valentine’s Day this week, but according to a new survey, almost one in four Americans wishes their partner would rein in the spending. According to a poll by finance website GoBankingRates, money is one of the […]
AppleOne Properties provides sound investment for Cebuanos in the US
By Hannah De Castro-Abinuman AppleOne Properties successfully culminated their US Road Show on November 19, 2014 at the Sheraton Hotel in Cerritos, CA. The road show focused in three key areas in the US – New York, San Francisco and Los Angeles. Numerous Filipinos, mostly Cebuanos, flocked the said events looking for the perfect property […]
Tim Cook says Apple to open 25 new China stores in next two years: report
(Relaxnews) – Apple is planning to consolidate its presence in China by introducing 25 new stores to the country over the next two years. According to reports by publications including Apple Insider and Forbes, CEO Tim Cook put a figure on the brand’s growth plan when talking to the Chinese news portal Sina during a […]
HTC prepping a smartwatch
(Relaxnews) – The company has indicated that its first wearable device will be on sale before Christmas and will boast an improved screen and battery life. It’s only February but 2014 is already shaping up to be the year of the smartwatch. Acer and Asus have announced that they’re both about to launch their first […]
Phablet sales set to flourish
(Relaxnews) – By 2018 the oversized handsets could be truly ubiquitous, especially in Korea and China, where demand shows no sign of falling. Anyone hoping that the phablet was still just a technological fad should prepare to be disappointed. Juniper Research forecasts that within the next four years, shipment levels will have hit 120 million […]
Fall harvest comes to JFK Airport in pop-up farmer’s market
(Relaxnews) – After San Francisco, and Chicago, New York’s JFK Airport is the latest hub to host a farmer’s market in an effort to tout locally grown products. At the end of the month, low-cost airline JetBlue plans to set up a pop-up market that will feature farm-fresh produce from the fall harvest like pumpkins, […]
Tech agenda: World Smart Week
(Relaxnews) – No, it’s not an event celebrating IQ but rather a collection of conferences and tradeshows highlighting technologies that connect everything from fridges and microwaves to cars and cookers to the internet and that can be controlled by nothing more than a smartphone or tablet app. World Smart Week September 24-27 Nice, France Combining […]
The best from a bumper IFA
(Relaxnews) – This year’s event proved to be one of the highlights of the consumer electronics calendar with a number of big brands choosing Berlin over Taipei or Las Vegas to showcase their latest offerings. The big news from this year’s show will no doubt be the launch of a number of smartwatches, chief among […]
Palace confident of sustaining soaring tourist arrivals
Malacanang said it is confident that the government could sustain the growing influx of tourists coming to the Philippines after posting four million arrivals for 2012. The Philippines has surpassed the four million visitor arrival mark for 2012 posting a total of 4,272,811 foreign visitors last year. This figure is a 9.07 percent increase from […]
Microsoft Surface Pro hits US in February
(SAN FRANCISCO-AFP) – Microsoft announced Tuesday that its business-oriented Surface Windows 8 Pro tablet computer will debut in the United States and Canada in February with a lofty starting price of $899. Microsoft also said that the consumer-focused version of Surface released late last year here will soon be available in 13 new markets around […]
Remittances hit new peak in October
MANILA, Dec 17 (Mabuhay) – The Philippine central bank released on Monday data on October remittances from Filipinos overseas with cash remittances in the 10 months to October reaching $17.5 billion, up 5.8 percent from last year’s $16.5 billion. Total personal remittances, which represent the sum of net compensation, household-to-household transfers in cash and kind, […]
Helping Students Manage Money
(Family Features) Money management is one skill that can be difficult for young adults to master as they head off on their own. But no matter what stage of life – whether they’re entering college or the work force – every young adult should learn how to handle their money. Establish a Budget Sit down […]
Cruise line to introduce airline-style speedy boarding for an added charge
(Relaxnews) – Starting August 20, Carnival Cruise Lines is offering an express boarding service to its passengers, for an extra fee. Under the slogan “Faster to the Fun,” passengers willing to pay an extra fee will get their own express lane to board the ship. Aside from the priority check-in, for £49.95 (around $80) all […]
Job vacancy ad says new Xbox within 18 months
(Relaxnews) – A Microsoft job posting has given yet further creedence to the expectancy that a new Xbox will arrive by the end of 2013, specifying an eighteen month timeframe for various products including another Xbox branded console. “Over the next eighteen months Microsoft will release new versions of all of our most significant products […]
Amazon floats textbook rental service for college students
(Relaxnews) – Forget film rentals, the next big thing for college students is going to be book rentals, at least if Amazon’s US arm has anything to do with it. The online retailer claims savings of up to 70% and, at the end of the rental period (a 130 day semester), the books are returned […]
London tourism rates plunge during Olympics
(LONDON-AFP) – The London 2012 Olympics appears to be deterring tourists from the capital’s centre after warnings of travel chaos and overpriced hotel rooms, according to key industry figures. Many businesses complain they are being sidelined as tourists make a beeline for the Olympic Games and avoid the capital’s other attractions and shopping destinations, while […]
Hong Kong rents too high for Sweden’s H&M
(HONG KONG-AFP) – Fashion retailer H&M is shutting its flagship store in central Hong Kong due to sky-high rents in the southern Chinese city, a report said Friday. Five years after launching its first Chinese store in Hong Kong’s Central district, the Swedish fashion house is closing the 30,000 square-foot (2,790 square-metre) space, the Wall […]
Chinese buying more luxury goods at home: survey
(BEIJING-AFP) – Chinese shoppers are increasingly buying luxury goods in mainland China, turning away from high-end stores abroad and in Hong Kong, a survey indicated Thursday. The poll by market research firm Ipsos found that Chinese buyers preferred to shop on the mainland for luxury goods in five of its seven categories — watches, cosmetics, […]
Millions more Chinese using mobile devices to access Internet
(HONG KONG-Relaxnews) – While China’s internet community continues to grow in huge numbers so, too, does the amount of people who are accessing the web via mobile devices. A report released earlier this month from the China Internet Network Information Centre claims there are now 538 million Chinese who regularly use the internet, up 11 […]
Tablets to push US electronic sales above $200 billion
(WASHINGTON-AFP) – US consumer electronic sales are expected to top $200 billion for the first time this year, propelled by strong growth in tablet computers, an industry group said Tuesday. The semiannual forecast released by the Consumer Electronics Association showed an estimated 5.9 percent growth in US sales this year, two points higher than previously […]
ZTE launches first Android 4.1 phone in China
(Relaxnews) – Mobile maker ZTE is the first company to launch a smartphone running the latest version of Google’s Android 4.1 “Jelly Bean” operating system in China. The ZTE N880E smartphone is the third handset in the world to feature Android Jelly Bean and arrives just over one week after the official July 13 launch […]
Louis Vuitton readies for Shanghai opening
(HONG KONG-Relaxnews) – Louis Vuitton is certainly no shrinking violet when it comes to self-promotion and the brand made its intentions in China well and truly clear Thursday, taking out the whole front page of a national newspaper to promote the opening of its new store in Shanghai this Saturday. With one whole floor that […]
Hotel rates on the rise in Europe this July, particularly in London
(Relaxnews) – Travelers visiting European cities in July are paying more for their hotel room than they would have during the same period last year, according to the latest trivago–Relaxnews indicator. In London, host city for the upcoming Olympic Games, a standard double room for one night costs an average of €261, 26 percent more […]
Aquino cites tourism as country’s engine of growth
MANILA, July 13 (Mabuhay) – In keeping with his commitment to boost the Philippine tourism, President Benigno S. Aquino III said his administration has made good progress in the tourism sector to revitalize the country’s socio-economic growth. In his speech during the courtesy call of the 7th North American Ambassadors, Consuls General and Tourism Directors […]
Startup to bring real-money bets to social games
(WASHINGTON-AFP) – Online social games could get a shot of real money with a new platform launched by a startup on Monday. The new platform to allow real-money bets on almost any online game is coming from Betable, a London-headquartered company with a British gambling license, and working in California with US game developers. “This is the first […]
Apple to release latest iPad in China on July 20
(SAN FRANCISCO-AFP) – Apple on Tuesday announced that it will begin selling the latest version of its market-leading iPad in China on July 20. The news comes on the heels of Apple paying $60 million to end a dispute over the iPad name in China, giving the US tech giant more certainty in selling its […]
Samsung is Asia-Pacific’s most valuable brand
(Relaxnews) – Consumer electronics manufacturer Samsung has been named the number one brand in the Asia-Pacific region for 2012 in the ninth edition of Asia’s Top 1000 Brands Report. Samsung outranked electronics brands including Apple, Sony, Canon, Panasonic and LG to pick up the coveted top place. “Samsung’s sweep of the top spot can be […]
US surpasses Italy as biggest market for still ‘light’ wine
(Relaxnews) – A new set of statistics reveals that American consumers are growing increasingly thirsty for wine as the US has overtaken Italy to become the biggest market for still light vino, defined as non-sparkling wines up to 14 percent alcohol or lower. According to UK-based International Wine & Spirit Research (IWSR), sales in the […]
Facebook buys face recognition technology startup
(SAN FRANCISCO-AFP) – Facebook on Monday said it has bought a startup specializing in software that lets computers recognize people’s faces in digital images. It was not disclosed how much the leading social network paid for Face.com or what its plans are for the company. “People who use Facebook enjoy sharing photos and memories with […]
Tokyo regains ranking as world’s most expensive city
(PARIS-AFP) – Tokyo has regained the unenviable title of the world’s most expensive city for expatriates, while the eurozone crisis has made many European cities cheaper according to a survey published Tuesday. At the other end of the scale, the survey by the Mercer group named the Pakistani port Karachi as the least expensive city, […]
US May auto sales rise 20% on sweeter incentives
(DETROIT, Michigan-AFP) – With Toyota and Honda leading the way, US car sales rose by more than 20 percent in May from a year ago, juiced up by increased incentives amid a slow US economy, industry figures showed Friday. In total, 1.33 million new cars and trucks were sold in the United States last month, […]
Aquino lauds sari-sari store owners
MANILA, May 16 (Mabuhay) – Even the lowly sari-sari store contributes to the Philippine economy. President Aquino acknowledged the contributions of the micro, small and medium enterprises to the national economy, saying the retail industry accounted for 13% or P1.3 trillion of the country’s 2011 gross domestic product. Aquino made the remarks as he kicked […]
Apple still top global brand as value jumps: survey
(NEW YORK-AFP) – Apple has extended its lead as the world’s most valuable corporate name with a strong 19 percent increase in its so-called brand value, a survey showed Tuesday. The research firm Millward Brown Optimor, a unit of advertising and communications giant WPP, found that Apple’s brand value increased 19 percent to $182.9 billion, […]
US online spending climbs
(SAN FRANCISCO-AFP) – US online spending in the first three months of this year surged with a little help from shoppers using tablet computers to buy clothing and other items, comScore reported on Wednesday. E-commerce sales of $44.28 billion in the quarter were 17 percent higher than in the same period last year, according to […]
Microsoft’s earnings shine ahead of new product wave
(SAN FRANCISCO, April 19, 2012 (AFP)-AFP) – Microsoft posted quarterly net income of $5.11 billion on record-high revenue on the cusp of what executives billed as a huge “product launch wave” promising even better days ahead. “We’re driving toward exciting launches across the entire company, while delivering strong financial results,” chief executive Steve Ballmer said […]
New site latest to promise savings for travelers ahead of the summer season
(Relaxnews) – Right ahead of the summer travel season, a new tool called Tingo has been released with a grand promise that it could save travelers hundreds of millions of dollars. The reasoning behind Tingo, which is owned by TripAdvisor, is simple — hotels often change rates dependent on demand (i.e., how many rooms they have sold), […]
America sells recreation, as its tourism figures soar
(Relaxnews) – As the US celebrates a record-breaking year for international tourism, senior administration officials are already planning how to attract more visitors to one thing their country has plenty of — natural beauty.Perhaps unsurprisingly for a country so large, the US boasts nearly 400 national park units and 556 national wildlife refuges, and in […]
World wine consumption increases in 2011
(PARIS-AFP) – World consumption of wine increased slightly in 2011 thanks to added consumers in the United States and China, the International Organisation of Vine and Wine said on Thursday. The organisation, an intergovernmental industry group, said 242 million hectolitres (mhl) of wine were drunk last year, up 0.7 percent from 2010. In Europe, consumption […]
Opening of Starbucks’ first juice bar a sign of what’s to come
(Relaxnews) – A newly opened juice bar by coffee giant Starbucks in Washington provides a first glimpse into what’s poised to become a major trend, akin to the ubiquitous green and white logo around the world. After acquiring California-based juice company Evolution Fresh four months ago, the company has wasted no time in setting up their first […]
Record 62 million visit US in 2011: officials
(WASHINGTON-AFP) – A record 62 million foreigners visited the United States last year, spending $153 billion on travel and tourism-related services, the US government said Wednesday. Releasing tourism industry data for 2011, the Commerce Department said spending by domestic as well as international tourists grew 8.1 percent in 2011, “supporting an additional 103,000 jobs for […]
PayPal to expand in Asia after mobile app launch
(Hong Kong-AFP) – PayPal Asia-Pacific chief Rupert Keeley said Friday the US company plans to expand in the region over the next 12 to 18 months, after it launched the region’s first payments service for smartphones. Australia and Hong Kong were the first countries in the region to have the new mobile system but Keeley […]
Japan’s Uniqlo eyes Asia with new Tokyo megastore
(TOKYO-AFP) – Japan’s cheap chic clothing chain Uniqlo opened the doors to its new 12-floor Tokyo megastore on Friday, making a splash in the upmarket Ginza area as part of a drive across Asia. “Opening a flagship store here is the first step to expand the business from here to the whole of Asia,” Uniqlo […]
Hotel prices rise in major US cities
(Relaxnews) – New York City and Washington DC saw hotel prices soar this month, new figures from price comparison site Trivago have shown. New York, the most popular destination in the US, boasts an average nightly rate for a double room of $289, up 16 percent on last month as the city finally begins to […]
What crisis? Swiss watchmakers eye record 2012
(GENEVA-AFP) – The world’s biggest watch fair is set to open in an optimistic mood, with Swiss watchmakers — the industry’s barometer — expecting 2012 demand to beat 2011’s, when exports hit a record. “The watchmaking sector is probably a unique case,” said Jacques Duchene, who heads the exhibitors’ committee of the Baselworld fair, which […]
Mobile industry champions paying with phones
(BARCELONA-AFP) – Paying with a mobile phone is gradually become a reality for consumers, with banks, telecommunications operators and Internet players all jumping in to offer payment options. But while one group is pushing for a system of payment through an electronic wallet hosted on the web, another is investing in an infrastructure that would […]
American car sales soar again, VW and Chrysler lead the way
(Relaxnews) – US auto sales jumped by 16 percent in February, figures released this week showed, with a host of automakers posting gains of more than 30 percent on the same month last year. American consumers bought a total 1.15 million cars last month, more than expected by many and boosted by a warmer-than-expected winter […]
In China, all that glitters is most likely gold
(HONG KONG-Relaxnews) – It’s unmatched as a symbol of wealth and prosperity and though gold has been favored by China’s well-to-do for centuries, it appears the country is currently experiencing an unprecedented passion for the precious metal. Fuelled by the onset of the Year of the Dragon — traditionally a time celebrating and spending on […]
Surveys shed light on the cost of living in Asia
(HONG KONG-Relaxnews) – While the Asia-Pacific may more and more be a choice for those looking to escape the economic hardships afflicting other parts of the globe, a number of recent surveys have shed fresh light on just how attractive the region’s main cities actually are for living. The Worldwide Cost of Living Index 2012 […]
Apple number one consumer electronics brand in the US: NPD
(Relaxnews) – Apple is the number one consumer electronics brand in the US for the second year running. According to figures published by market researcher the NPD Group on February 13, consumer technology hardware and consumable sales reached close to $144 billion in 2011, down half of a percent from the year before. Apple was […]
Valentine’s Day spending up 8.5 percent for 2012
(LOS ANGELES-Relaxnews) – Sweethearts celebrating Valentine’s Day will spend an average of $126.03 in 2012, an increase of 8.5 percent from last year, according to a National Retail Federation survey conducted in the US, and the gift giving includes their beloved pets. Total spending for February 14 could reach $17.6 billion. Valentine’s Day is considered […]
French luxury group Hermes posts record 2011 sales
(PARIS-AFP) – French luxury group Hermes said on Thursday it posted record sales of 2.8 billion euros ($3.8 billion) in 2011, highlighting the resilience of luxury brands in the face of the weakening global economy. The group’s sales were up 18.3 percent last year, beating the target of 15-16 percent growth, it said in a […]
India auto sales climb 7.2% in January: industry
(MUMBAI-AFP) – New car sales in India climbed 7.2 percent year-on-year in January as the sector showed further signs of recovery from its slump in 2011, an industry body said on Wednesday. The Society of Indian Automobile Manufacturers (SIAM) said domestic passenger car sales rose to 196,013 last month from 182,852 in January 2011, marking […]
KFC, Pizza Hut and Taco Bell focus on China for growth
(Relaxnews) – Chinese consumers can expect to see even more US fast food chains like KFC and Pizza Hut set up shop in their backyard as parent company Yum! Brands embarks on a bullish growth strategy that hinges on China. In 2011, Yum — whose core brands include Taco Bell, KFC and Pizza Hut — […]
China starts to look for luxury closer to home
(HONG KONG-Relaxnews) – The growing power of the Chinese consumer might have the world in its thrall but it seems it won’t be too long before their lust for luxury is more satisfied a little closer to home. Traditionally, Chinese shoppers have had to head overseas to pick up the latest fashions or other luxury […]
Silicon Valley braces for Facebook millionaires
(SAN FRANCISCO-AFP) – Even before Facebook goes public, Silicon Valley is buzzing in anticipation of the “instant millionaires” that may soon be looking for ways to spend their newfound wealth. Eight years after Mark Zuckerberg founded the company in a Harvard dorm room, the stock market debut is expected to value the social media giant […]