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Toy ‘R’ Us in Asia Unaffected by its Global Company’s Bankruptcy

As the global retailer Toys ‘R’ Us files bankruptcy protection in the US, its businesses in Asia remain unaffected.

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As the global retailer Toys ‘R’ Us files bankruptcy protection in the US, its businesses in Asia remain unaffected.

The Asian operations of Toys ‘R’ Us are not affected by the bankruptcy

The global retailer has filed for bankruptcy protection, strangled by heavy debt and a tough environment for physical stores. In Asia, Fung Retailing holds 15% stake in Toy ‘R’ Us while the global company owns the remaining.

There are 11 Toy ‘R’ Us stores in Singapore and it runs more than 220 outlets in East and Southeast Asia, with another licensed outlets in the Philippines and Macau.

Read the full story here.

Mobike marks its first US entry with the debut in Washington D.C.

China’s Mobike dockless bicycles are now seen on the street of Washington D.C., as the company debuts its entry to North America.

The United States is Mobike’s first destination in North America and its seventh overseas market, following Britain, Italy, Japan, Singapore, Thailand, and Malaysia. It is also determined to cultivate bike-sharing culture by working with cities across the globe.

Before entering the United States, Mobike partnered with U.S. telecom giant AT&T, and Qualcomm to better serve local riders.

Read the full story here

Alibaba establishes live entertainment business group

Alibaba announced the founding of its live entertainment business group to step up in ticketing, content creation, and live experience.

These roles will be managed by Damai, MaiLive, and Maizuo respectively. Damai is one of China’s largest event ticketing platform and is fully owned by Alibaba.

Following Tencent, braving into the entertainment industry is said to be Alibaba’s plan to go beyond ecommerce. Tencent’s music affiliate claims over 75% of China’s online music streaming market.

Read the full story here.

 

 

Original content by ecommerceIQ

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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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Tech

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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