Joint stock company russian railways

- A + A MOSCOW (June 30): Western fashion brands are conspicuous by their absence at a gleaming new shopping centre on the outskirts of Moscow - and customers say they scarcely miss them. Following Moscow's decision to send thousands of troops into Ukraine at the end of February, international fashion brands from Adidas to Zara have paused operations in Russia, while Nike is one of the handful to commit to a definitive exit from the market. "I am neutral on this, whether we have them or not," shopper Alexandra Moskunova told Reuters at the mall in Khovrino. "I can happily do without them." Another customer, Irina Stakhanova, said: "I only really liked H&M and another one that I can't remember. It's not that I need foreign things, I just need something that fits me and looks good, to lift the mood." There are few overt signs in the Russian capital that the mood needs lifting. Buskers sing and play, restaurant terraces spill onto the pavement and, as … [Read more...] about Moscow mall opens for Russian business after big brand exodus

Monitors are on display at a retail shop in Seoul. [NEWS1] Samsung Electronics and LG Electronics are facing historically-high inventory levels as demand for electronic devices weakens and the world finds itself awash in everything from smartphones to appliances. The flip from dearth to glut could have a wide-ranging impact. Companies are cutting orders from parts suppliers. Workers are getting fewer hours and losing their jobs. And earnings and balances sheets could be hit. Samsung Electronics, the world's largest manufacturer of televisions and smartphones, carried 47.6 trillion won ($36.6 billion) of inventory in the first quarter, up 55.4 percent on year. The figure, which has been reported by the company since 2000, is an all-time high. LG Electronics had 10.2 trillion won of inventory in the same period, up 27.7 percent on year. The excess inventories suggest lower-than-expected sales of smartphones, televisions and other home appliances as people struggle to afford … [Read more...] about Electronics companies dealing with a ‘mountain of inventory’

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A ALL eyes are on RHB Banking Group’s newly minted group managing director (MD) and group CEO Mohd Rashid Mohamad as he steers the fourth-largest banking group by assets forward in a tough operating landscape. “It’s very challenging, especially now in a fast-changing market environment, and as we face potential risks such as geopolitical and inflationary,” acknowledges Rashid in his first exclusive interview as group MD/CEO. Competition has intensified, given new entrants into the market, which are not just new banks but also technology companies that compete for the same pie. Rashid adds that this has partly affected the profitability of the industry, along with many other factors. He notes that banks globally no longer see “high ROEs” as before. For RHB Bank Bhd, its return on equity (ROE) in the past 10 financial years hit a high of 13.4% in FY2012 before … [Read more...] about Cover Story: RHB’s Game Plan in ‘fast-changing’ new normal

- A + A SERI KEMBANGAN (June 30): Country Heights Holdings Bhd (CHHB) is allocating RM100 million in capital expenditure (capex) to expand and strengthen its wellness business segment, one of its top performing pillars during the Covid-19 pandemic. The group's founder and major shareholder Tan Sri Lee Kim Yew said the Malaysian government had been championing medical tourism since before Covid-19 and had done very well in this segment even during the pandemic. The group’s healthcare subsidiary GHHS Healthcare recorded a profit of RM3.23 million in 2021 on a turnover of RM26.72 million. There is huge potential in this segment and hence the group targets to grow it by three or four times, he told reporters after the group’s annual general meeting here on Thursday (June 30). “We want to reposition our group wellness business as a new branch of wellness tourism, which is a bigger market compared to medical tourism,” Lee said. He said if one were to consider the … [Read more...] about Country Heights allocates RM100m in capex to expand wellness business