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Shilla Duty Free, an affiliate of Samsung Group, secured the rights to run perfume and cosmetics stores at Changi Airport in Singapore from October this year to September 2020

2014-01-08 17:07

Shilla to run shops at Changi Airport

This is an artist’s impression of a perfume and cosmetics store to be operated by Shilla Duty Free at Changi Airport in Singapore from October to September 2020

By Yi Whan-woo
Shilla Duty Free, an affiliate of Samsung Group, secured the rights to run perfume and cosmetics stores at Changi Airport in Singapore, the company announced Wednesday. Read more of this post

Financial regulators to tighten access to lending for pricy ‘jeonse’ tenants

Financial regulators to tighten access to lending for pricy ‘jeonse’ tenants

2014.01.09 15:11:14

South Korea will drastically step up regulation of loans to tenants who pay high ‘jeonse’ deposits (lump-sum deposits) as early as next month.
They will have more difficult access to non-banking lenders such as mutual finance companies, and an increasing number of people in the vulnerable class will be subject to debt relief plan.  Read more of this post

The corporate rankings of South Korea’s large businesses fluctuated sharply last year with further changes expected in 2014 as many struggle to cope with difficult times

2014-01-08 11:06

Conglomerates’ rankings change due to economic slowdown

The corporate rankings of South Korea’s large businesses fluctuated sharply last year with further changes expected in 2014 as many struggle to cope with difficult times, local data showed Wednesday. Read more of this post

The number of public servants drastically increased to 1 million under the administration of President Park, following her pledges to eliminate “four social evils” – sexual violence, domestic violence, school violence and unsafe food

Civil servants to surpass 1 million

Increase is in line with Park’s pledge to get rid of the four ‘social evils’

Jan 11,2014

The total number of workers in civil service is expected to hit a record of more than 1 million this year, according to the Ministry of Security and Public Administration. 

Read more of this post

Yen Seen Rallying 16% Threatens Abe’s Successes: Market Reversal

Yen Seen Rallying 16% Threatens Abe’s Successes: Market Reversal

Mitsubishi UFJ Morgan Stanley Securities Co. and Westpac Banking Corp. are breaking from the pack to bet the yen will rally in 2014, which could threaten Japan’s efforts to reflate the economy. Read more of this post

Toray chief Sakakibara will lead Keidanren

Toray chief Sakakibara will lead Keidanren

KYODO, JIJI

JAN 9, 2014

The nation’s most influential business lobby plans to appoint Toray Industries Inc. Chairman Sadayuki Sakakibara as its next chairman, Keidanren officials said Thursday.

Sakakibara, 70, accepted the request to assume the chairmanship at the group’s general meeting in June, they said. He will replace 76-year-old Hiromasa Yonekura, who has led the group since 2010. Read more of this post

Sake boom revives rice types as Abe eyes exports

Sake boom revives rice types as Abe eyes exports

BY AYA TAKADA

BLOOMBERG

JAN 8, 2014

Farmers on Japan’s west coast will sow Nihonbare rice this year for the first time in a decade as growers around the country return to older varieties to meet demand for record sake exports. Read more of this post

Morgan Stanley said inflation and overspending threaten to push Japan’s finances to the brink, amid signs government-bond investors are preparing for rising consumer prices

Morgan Stanley Warns of Crisis Amid Inflation Sign: Japan Credit

Morgan Stanley said inflation and overspending threaten to push Japan’s finances to the brink, amid signs government-bond investors are preparing for rising consumer prices.

An auction of inflation-linked sovereign notes yesterday drew a higher-than-expected price, as investors bid for 2.87 times the amount available. The benchmark 10-year yield on non-protected securities will probably climb to 0.84 percent by the end of 2014, delivering a 0.5 percent loss, based on analyst estimates and data compiled by Bloomberg. That would be the first negative return since 2003, according to Bank of America Merrill Lynch index data. Read more of this post

Japan’s Lixil, which agreed to buy bathroom-fixture makers American Standard Brands and Grohe Group last year, is studying another overseas acquisition to boost revenue from emerging markets.

Lixil mulls another overseas takeover

BY SHIGERU SATO AND EMI URABE

BLOOMBERG

JAN 8, 2014

Lixil Group Corp., which agreed to buy bathroom-fixture makers American Standard Brands and Grohe Group last year, is studying another overseas acquisition to boost revenue from emerging markets.

The planned deal will help Tokyo-based Lixil achieve its target of increasing sales from emerging markets to more than 30 percent of its revenue, from about 20 percent now, Chief Executive Officer Yoshiaki Fujimori said in an interview Monday. The company could spend tens of billions of yen on its next takeover, Fujimori added. Read more of this post

Japanese Begin to Question Protections Given to Homegrown Rice

Japanese Begin to Question Protections Given to Homegrown Rice

By HIROKO TABUCHIJAN. 9, 2014

Bags of hulled rice at Echigo Farm’s processing plant in Higashikanbara, Japan. Echigo Farm, which sells its organic rice at a premium, is a rare upstart in the Japanese rice business. Kentaro Takahashi for The New AGA, Japan — For decades, Japan has defended its 778 percent tariffs on rice with a kind of religious zeal. Rice is a sacred crop, the government has argued, not open to trade negotiations. Its farmers are not just defenders of a proud agrarian heritage, but form the nation’s spiritual center as well. Read more of this post

Japan Food Probe Widens As 1,400 Reportedly Fall Sick

Japan Food Probe Widens As 1,400 Reportedly Fall Sick

By Agence France-Presse on 1:07 pm January 9, 2014.

This picture taken on Jan. 4, 2014 shows police investigators entering the Gunma factory of Japanese frozen foods company Aqli Foods, a subsidiary of Japanese food company Maruha Nichiro Holdings at Oizumi in Gunma prefecture, north of Tokyo to inspect plant facilities. More than 300 people across Japan have fallen ill after eating frozen food products contaminated with pesticide. (AFP Photo/JIJI Press)

Tokyo. A probe into pesticide-laced frozen food in Japan has widened, with police interviewing factory workers assigned to a packaging room, reports said Thursday, as the number who have fallen sick reportedly topped 1,400. Read more of this post

Streamlining and Improving the Situation For Indonesia’s SMEs Ahead of the AEC Era

Streamlining and Improving the Situation For Indonesia’s SMEs Ahead of the AEC Era

By Djoko Subinarto on 11:59 am January 4, 2014.
A single regional common market of Association of Southeast Asian Nations, or Asean, countries known as the Asean Economic Community will go into effect in 2015 for its founding members — Indonesia, Malaysia, the Philippines, Singapore and Thailand — and in 2020 for the remaining member states of Brunei, Cambodia, Myanmar, Laos and Vietnam. Read more of this post

SBY, Megawati Urged to Reconcile

SBY, Megawati Urged to Reconcile

By Carlos Paath on 8:02 am January 9, 2014.
Pramono Edhie Wibowo, the brother-in-law of President Susilo Bambang Yudhoyono, says he is interested in helping ease the long-running friction between Yudhoyono and Megawati Soekarnoputri, the former president, that has seen the two politicians publicly give each other the cold shoulder over the past few years. Read more of this post

Media Moguls in Indonesian Presidential Race Is Worrying, as Evidenced by Other Countries’ Experience

Media Moguls in Presidential Race Is Worrying, as Evidenced by Other Countries’ Experience

By Johannes Nugroho on 9:08 am January 7, 2014.
The start of 2014 will undoubtedly see an escalation of political campaign for this year’s legislative and presidential elections.

Though it is still too early to determine who will be able to run for the latter, as the prerequisite for candidacy depends on the results of the legislative election, a few names have indeed declared themselves presidential hopefuls. Read more of this post

Lessons From the Indonesian Experience the World Should Heed

Lessons From the Indonesian Experience the World Should Heed

By Edward Parker on 8:52 am January 8, 2014.
This will be a pivotal year for Indonesia, one in which the political baton will be handed over. Both the nation’s highest offices will have new occupants; the House of Representatives, or DPR, and the Presidency. Indonesia will begin a new journey and a new chapter in its history. Read more of this post

Indonesia: overlooked gem for brands?

Indonesia: overlooked gem for brands?

Brands that want to enter must first do due diligence and be committed to research

By:Kathryn Sloane   Date posted: January 2, 2014

On the surface, there’s nothing surprising about a global brand expanding into one of the world’s developing nations. But with recent slowdowns in the super-hot economies of China and Brazil, Indonesia, despite its slowing growth rate, merits a second and third look for brands looking for a country with a big upside. Coca-Cola certainly is one such brand: Earlier this year it announced plans to spend $700 million in the world’s fourth-largest nation during the next three years. Read more of this post

Indonesia: Growth of the Few is No True Growth

Editorial: Growth of the Few is No True Growth

By Jakarta Globe on 1:58 pm January 11, 2014.
Economic growth should benefit all members of society. A widening income gap hurts social stability and slows overall gross domestic product growth.

According to Paramadina University, the wealthiest 10 percent of Indonesians are expected to enjoy 30 percent of the country’s GDP this year, while the poorest 10 percent will only be able to enjoy 3 percent. Read more of this post

Indonesia Braces For Impact of Mineral Export Ban

Indonesia Braces For Impact of Mineral Export Ban

By Rieka Rahadiana & Randy Fabi on 9:10 pm January 10, 2014.
Indonesia’s government was scrambling to pass last-minute regulations to limit the impact of a controversial ban that could halt billions of dollars worth of unprocessed mineral ore exports from Sunday. Read more of this post

Behind Giving of Alms Lurks Fear of Abuse; Damaged pillar: Indonesian Muslims are concerned about how money meant for the needy is used

Behind Giving of Alms Lurks Fear of Abuse

Damaged pillar: Indonesian Muslims are concerned about how money meant for the needy is used

By Abdul Qowi Bastian on 10:40 am January 9, 2014.
Thousands of hands are outstretched in homage at an event marking the birthday of the Prophet Muhammad on Feb. 15, 2013. Other times hands stretch out, but not always in prayer. (JG Photo/Yudhi Sukma Wijaya)

“Just prayed for @SedekahHarian’s donors. May all prayers be answered, God willing.” Read more of this post