Hello, dear reader!
Walmart intensifies its fight with Visa by blocking the use of their credit cards in some Canadian stores. Alibaba stays in the headlines as it ramps up its presence in Australia and New Zealand, while Korea's leading retailer expands to Mongolia. In the UK, more stores are about to close down and in Africa, Coke moves its headquarters out of Kenya. Enjoy the read.
Asia & south pacific
Alibaba opens in Australia Jack Ma’s online trading platform is expanding its presence Down Under and will establish an office in Melbourne by the end of 2016. Alibaba representatives are currently visiting Australasia to promote its various platforms as a gateway to China and other international markets.
Local sourcing required After its adoption by the Romanian Parliament in June, the new law, which demands for at least 51% of the products sold by retailers to be produced in Romania, has been signed by the country's president, Klaus Iohannis and will be in force now.
usa & Canada
Hasbro beats expectations Although the US toymaker reports a slowing growth in the boys division and has lost its "Jurassic Park" license, the surge in sales of girls' toys turbocharged the company's earnings. Revenues for the quarter to June 26 rose 10% to US$ 879 million.
latin america & africa
Sam's launches in Columbia In a bid to strengthen its foothold in the country, Walmart will open its latest warehouse club store in North East Columbia. It will feature a shopping app and a pick-up facility for customers.
Coca-Cola relocates The softdrink giant has downgraded its massive regional headquarters in Nairobi and will move most of its operations to South Africa and Nigeria. Kenya is still regarded as a strategic market for Coke's East African activities.