World Business Inquiries

Questioning business opportunities in a world that is currently in sharp decline due to the outbreak of the COVID-19 virus. The answer from entrepreneurs and business people is very simple. They answered, all will be beautiful in its time

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S. Korean duty-free operators grapple with pandemic-caused biz slump

S. Korean duty-free operators grapple with pandemic-caused biz slump

Yonhap via The Korea Herald/Asia News Network

SEOUL — South Korean duty-free shops are struggling to cope with an industry-wide slump as flight suspensions and a subsequent fall in the number of customers have severely dented their sales amid the new coronavirus pandemic.

With no imminent signs of business turnaround, duty-free operators have called for support measures from the government, including an additional cut in airport rental fee.

Duty-free stores saw their combined sales fall below 1-trillion won ($812 million) mark for the first time in four years in April, according to industry data.

Total sales of local duty-free shops shrank 9.2 percent on-month to 986.7 billion won last month. The tally halved compared with January, when the virus outbreak was first reported here.

The number of visitors to duty-free outlets reached around 354,000 in April, sharply down from some 587,000 the previous month. Foreigners accounted for 33 percent of

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PH Airlines raring to restart flights with new safety rules

PH Airlines raring to restart flights with new safety rules

FILE PHOTO/GRIG C. MONTEGRANDE MANILA, Philippines – Local airlines battered by the new coronarvirus (COVID-19) pandemic are raring to take the skies once more. The Air Carriers Association of the Philippines (Acap) said in a statement on Tuesday that member airlines...

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S. Korean duty-free operators grapple with pandemic-caused biz slump

Yonhap via The Korea Herald/Asia News Network SEOUL — South Korean duty-free shops are struggling to cope with an industry-wide slump as flight suspensions and a subsequent fall in the number of customers have severely dented their sales amid the new coronavirus...

‘I don’t think we can wait’: Indonesia business groups ready for ‘new normal’ despite risks

Health officers checks the body temperatures of passengers, amid the COVID-19 coronavirus pandemic, as they get off a ferry at Ulee Lheue port in Banda Aceh on May 26, 2020. Photo by CHAIDEER MAHYUDDIN / AFP JAKARTA — Businesspeople are prepared to press on with the...

PH Airlines raring to restart flights with new safety rules

FILE PHOTO/GRIG C. MONTEGRANDE MANILA, Philippines – Local airlines battered by the new coronarvirus (COVID-19) pandemic are raring to take the skies once more. The Air Carriers Association of the Philippines (Acap) said in a statement on Tuesday that member airlines...

Postlockdown employment challenges | Inquirer Business

It’s Day 71 of the Luzon-wide lockdown and there is no assurance the government would lift it by the end of the month. The country’s labor sector is now on pins and needles about its future. There is reason for that pessimism because the contraction of the economy,...

BSP cites study showing cashless payments on the rise in PH

Commitment to electronic payments was renewed at a summit held on Monday, Dec. 2, headed by the Bangko Sentral ng Pilipinas (BSP). The “Digital Payments Leaders Summit” was used as venue for the release of a study by the United Nations-based Better Than Cash Alliance...