Lazada is the most highlighted platform resorting to fake discounts, which are a concern during Single Day sales To boost shopping demand during big sales promotion seasons like Black Friday, Christmas, and Single Day, e-commerce firms have been regularly resorting to tricks, making people think that they bought goods at discount prices. Along with trading in fake goods, Lazada, Southeast Asia's leading e-commerce platform has been constantly accused of using fake discount tricks. During Black Friday two years ago (November 25, 2016), Lazada advertised selling iPhone 7 devices with a 42 per cent discount for VND15.2 million ($660). However, some experienced consumers stated that this price was higher than the market price at the time and the discount was referring to the introductory price of iPhone 7, which was VND25.99 million ($1,130). In fact, a significant number of consumers regularly fall into the discount traps of e-commerce platforms, which target buyers with a strong … [Read more...] about Fake discount trick may happen again in Single Day sales promotions
Conversion of VAS financial statements to IFRS among Vietnamese firms
The PwC workshops attracted hundreds of business directors and financial-accounting experts The workshops, themed “Conversion of VAS financial statements to IFRS and new key points of IFRS in 2018/2019,” attracted more than 250 finance directors, heads of finance and accounting departments, chief accountants, and finance and accounting experts currently operating in Vietnam. At the workshop, PwC’s experts and a speaker from the Ministry of Finance shared their knowledge and practical experiences on coping with the challenges of converting VAS to IFRS, as well as gave updates on new key points of IFRS in 2018/2019. In fact, while IFRS is not yet mandatory in Vietnam, many companies have converted their financial statements from VAS into IFRS already. The adoption of IFRS is expected to become more common in the Vietnamese business community, not only to align with the IFRS roadmap in Vietnam but also for Vietnamese companies to attract foreign investors who may … [Read more...] about Conversion of VAS financial statements to IFRS among Vietnamese firms
Sock shines in doubles at ATP Finals after rankings plunge
Jack Sock (left) and Mike Bryan have formed a formidable doubles team. — AFP PhotoViet Nam News LONDON — Jack Sock found himself in the bizarre situation of being back at the ATP Finals as a doubles player on Monday - just a year after taking part in the singles event. The US player has plummeted to 106 in the singles rankings after a season to forget - in November last year he reached a career-high of eight following his win at the Paris Masters. The 26-year-old has endured a torrid time in 2018, winning just nine singles matches all year and losing 21. But he teamed up with Mike Bryan after Bryan’s twin brother, Bob, suffered a season-ending hip injury in May and won the doubles titles at Wimbledon and the US Open. Coming into the ATP Finals at London’s O2 Arena, Sock had won 35 out of 50 doubles matches and rose to a career-high ranking of number two in the world in September. The London season finale is contested by the eight singles players and eight … [Read more...] about Sock shines in doubles at ATP Finals after rankings plunge
Vingroup dives into pharmaceuticals with 11 VinFa stores
With a series of locations in trade centers and large-scale urban areas, VinFa promises to become a heavy-weight competitor of Mobible World and FPT Retail in the pharmaceutical industry. The VinFa stores will sell Vingroup's Oriental medicine products Last weekend, Vingroup has launched the chain of 11 VinFa pharmaceutical stores in Hanoi, located next to Vinmart supermarkets or convenience stores in urban areas and apartment buildings. The local pharmaceutical retail market is large but has yet to saw the emergence of a dominant player. Perhaps this inspired Vingroup to launch VinFa right after the appearance of An Khang Pharma of Mobile World and Long Chau Pharma of FPT Retail at the end of 2017 and early this year. Following the success of the Vinmec Medical System and realising its expansion plan in the healthcare sector, in April 2018 Vingroup announced entering the pharmaceutical industry with the establishment of VinFa JSC. The conglomerate also invested into VinFa … [Read more...] about Vingroup dives into pharmaceuticals with 11 VinFa stores
Saigon’s Chinatown market set to reopen
Erstwhile traders at the wholesale market in Ho Chi Minh City’s District 6 are moving their goods from a temporary market on Thap Muoi Street back to the new one in preparation for the reopening day. The 90-year-old market had dramatically deteriorated after nearly a century in use, prompting authorities to shut it down in November 2016 for a major restoration project. Some vendors had to hire porters to transport their goods to the new stalls inside the market. There are around 1,500 stalls inside the market, selling various items from retail textile, clothing, cosmetics, souvenirs and packaged goods to Chinese-influenced delicacies. Some fabric sellers arrange their goods in their stalls. The interior of the market has been painted with new colors. Over 1,000 stalls have been rebuilt, fire safety equipment and sound systems installed, as also safer electrical wiring and a wireless internet network. Several traders are busy cleaning up and decorating their stall before … [Read more...] about Saigon’s Chinatown market set to reopen