HOW IS DIGITISATION SHAKING UP ‘NEW RETAIL’ IN ASIA?

Online shopping allows consumers to buy beyond national borders. As it is, Chinese consumers are already shopping widely across the globe, especially within Asia-Pacific. According to Alibaba, of the 1.48 billion transactions during Single’s Day 2017, much went to the 60,000 overseas participating brands out of a total of 140,000. What’s more, Mintel research reveals that a fifth of Chinese online consumers of imported food products have purchased online from Japan, South Korea and Hong Kong. Meanwhile, consumers living outside of China are shopping from the e-commerce heavyweight—especially those residing in East and South Asia.

Matthew Crabbe

http://www.mintel.com/blog/retail-market-news/how-is-digitisation-shaking-up-new-retail-in-asia

the new employee

Saudi Arabia appoints new finance minister

Saudi Arabia has appointed Capital Market Authority Chairman Mohammed Al-Jadaan as its new finance minister by royal decree, replacing Ibrahim Al-Assaf, who had held the post since 1996.
Al-Assaf, 67, had been the last veteran member of Cabinet to remain in a key post through a series of government reshuffles after Custodian of the Two Holy Mosques King Salman assumed power last year, including one in May that replaced the long-standing oil minister.
He has been made minister of state and will remain a member of the Council of Ministers, as the Saudi Cabinet is known, according to the royal decree.
The Finance Ministry is a key position in the Kingdom and the change is likely intended to support a wide-ranging economic reform plan to steward the Kingdom through an era of low oil prices.

http://www.arabnews.com/