International Finance Corporation Archives - Inside Retail Asia

Exchange Square Phnom Penh topped out

Hongkong Land Holdings’ Exchange Square Phnom Penh mixed-use development has been formally topped out.

Myanmar City Mart secures IFC loan

Supermarket group Myanmar City Mart has borrowed $25 million from the IFC for nationwide expansion.

Investment firms eye Indian retailer

Asian investment firms, including Singapore’s Temasek, are eyeing 30 per cent of Indian retailer Aditya Birla. The investors, which also include L Capital, the investment arm of LVMH Group, and International Finance Corporation, a unit of World Bank, are reportedly in advanced talks to buy a minority stake in Aditya Birla Retail, whose portfolio includes Madura Fashion and Lifestyle and Pantaloons, for $400 million – $500 million. Aditya Birla plans to use the fund to expand its retail net…

Asians growing adoption of cashless payment

A new MasterCard study has revealed a rapid shift away from cash in economies including Asian countries. The study ‘The Cashless Journey’ found out that 55 per cent of the value of consumer spend in China was cashless. Meanwhile, Singapore (69 per cent) is approaching the “tipping point” to becoming nearly cashless. In emerging economies such as India (32 per cent) and Indonesia (31 per cent) are just embarking on their cashless journey, but are in many cases changing cash share of …