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Indonesia’s Cosmetics Startup Sociolla Raises Series B

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The startup’s series B comes from Istyle, a Tokyo  fashion company that operates, among other  popular beauty website @cosme in Japan. East Ventures also participated in the round. The terms weren’t disclosed.

1. Indonesia’s cosmetics startup Sociolla raises series B

Istyle plans to expand its business operations to Indonesia through its partnership with Sociolla. Taiwan, Hong Kong, and Thailand will follow later this year.

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2. Amazon, eBay and Alibaba account for two-thirds of cross-border purchases

The second edition of the International Post Corporation (IPC) cross-border e-commerce shopper survey has confirmed the leading role played by Amazon, eBay and Alibaba.

The IPC survey found that consumer preferences in China differed from other developed markets. Chinese consumers are more likely to shop online than consumers in any other country, said IPC, with 36% shopping online at least once a week.

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3. Recommended reading: New luxury lies in untapped markets, business models and mindsets

Major changes are coming to luxury with new markets likely to emerge such as cannabis and pets, and new business models such as following products through their lifecycle instead of separating ties after the sale.

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Ecommerce

How will oil prices shape the Covid-19 recovery in emerging markets?

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How will oil prices shape the Covid-19 recovery in emerging markets?

– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability

A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.

Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.

The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.

Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.

In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.

While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.

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How the Rural-Urban Divide Plays Out on Digital Platforms

It is one thing for entrepreneurs, whether urban or rural, to create and operate an online store, as some digital platforms have made it relatively easy to manage an e-store – even by using just a smartphone.

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In the West, villages are emptying out due to the lack of economic opportunities. Consider Italy where, in a bid to attract newcomers, a handful of municipalities have turned to selling houses for €1.

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