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Gold dealers in India offered a discount this week due to plentiful supplies and slack demand during the wedding season, with other regions in Asia expecting improvement in buying ahead of the Christmas and Chinese New Year festivities. Dealers in India offered a discount of up to $2 an ounce on official domestic prices, compared to a premium of $1 last week. Domestic prices include 12.5 per cent import tax and 3 per cent sales tax. “Demand is modest from jewellers, but there is ample supply from refiners that are aggressively selling in the market,” said Harshad Ajmera, a gold wholesaler in Kolkata. India’s gold imports in November jumped 78 per cent from a month earlier to the highest level in five months as jewellers in the world’s second-biggest market for the metal restocked after a fall in prices. “Assuming good demand during wedding season, banks and refiners have raised imports in the last few weeks,” said a Mumbai-based dealer with a … [Read more...] about Gold in India sold at discount as wedding demand disappoints

Small investors who sank millions of pounds into a “burrito bond” scheme were this week told they could face losing 90% of their money – or 99% if the company goes into administration. The Guardian revealed on 14 November that UK-based Mexican restaurant chain Chilango was in talks about the future of the business. That was a blow for the hundreds of people who, as recently as April, signed up for its multimillion-pound mini-bond scheme, which promised returns of 8% a year. The website promoting the bond offer had declared that “100%” of its restaurants were profitable. This week the news got a lot worse. The company has proposed a financial restructuring known as a company voluntary arrangement (CVA) – and documents sent to creditors and seen by Guardian Money show the business’s debt burden is unsustainable, and that if a restructuring does not take place, the company is likely to enter administration or liquidation. The shake-up could see … [Read more...] about Chilango ‘burrito bond’ investors could lose 90% of their cash

A lot of people attended AEON MALL's Role Play Contest 2018 With more than 20 years of history in Japan, the full-scale Role Play Contest was brought to Vietnam by AEON MALL for the first time ever. The contest was organised to encourage employees to show their knowledge about goods and products as well as the ingenuity of handling situations and showcase their customer service attitude. Carrying the slogan “Touch the heart – Spread the smile,” the contest has attracted the participation of nearly 400 contestants from four AEON MALL Vietnam shopping centers. The eight most talented contestants attended the final round after a rigorous training course with Japanese experts and passing two extremely difficult rounds. Role Play Contest 2018 consists of three rounds. To reach the final round, contestants have to pass the first two. In the first round, contestants had only three minutes to welcome, understand customers’ needs, and introduce the most suitable … [Read more...] about AEON MALL brings contest of 20-year history from Japan to Vietnam

BENGALURU: Amazon Wholesale India, the local wholesale unit of the world’s top online retailer, reported an 8% drop in revenue to Rs 11,232 crore in the fiscal year ended March 31, 2019, a likely effect of the government’s revised foreign investment guidelines which came into effect in February. Amazon Wholesale generates all of its revenue from sale of products to resellers. The government in February disallowed sellers on foreign-owned e-commerce marketplaces from purchasing more than 25% of their inventory from the group companies of the marketplace. “Total revenue of the company in Financial Year 2018-19 fell to Rs 112,316 million (Rs 11,231.6 crore) in comparison of last year revenue of Rs 122,242 million (Rs 12,224.2 crore). "Company is in the process (of) expanding its business and (the) management is confident of its future growth,” Amazon Wholesale’s filing with the Registrar of Companies (RoC) said. Losses of Amazon’s wholesale unit … [Read more...] about Amazon sees a decline in revenue in India

By Emefu Ibeayoka OVER the years, the  Central Bank of Nigeria (CBN), has introduced several reforms to create a robust financial system framework. These reforms are focussed on enhancing banking system stability, sensitizing the gains in serious governance and restoring confidence in the nation’s financial system. For example, in 2007, it floated the Payment System Vision (PSV 2020) initiative and in 2013, focussed on providing mechanisms for making and receiving payments. With the minimum risk to the CBN, the payment service providers and end users, the operation aimed at accommodating the banked, underbanked and the unbanked. This was structured to conform to regulatory, technical and operational standards across all economic activities, geographies and accepted across all international boundaries. Also recently,    the CBN berthed the National Financial Inclusion Strategy (NFIS) which seeks to ensure over 80 percent    bankable adults in Nigeria … [Read more...] about Developing new banking products to accelerate CBN’s Financial Inclusion