In a notable enforcement action, South Korea’s Personal Information Protection Commission (PIPC) has imposed a substantial fine of 21.62 billion won (approximately $15.67 million) on Meta Platforms, the owner of Facebook, for significant privacy violations. This ruling stems from the unauthorized collection and sharing of sensitive user data, highlighting the country’s firm commitment to data […]
Pakistan Moves to Recognise Digital Currency: A Potential Game Changer for the Economy
The State Bank of Pakistan (SBP) has put forth a transformative proposal plans which aim to recognise digital currencies, including popular cryptocurrencies like Bitcoin, as legal tender. This significant shift not only represents a departure from the SBP’s traditionally cautious approach to virtual currencies but also indicates a broader intent to modernise Pakistan’s financial ecosystem […]
Meta's Continued Ban on Political Ads: Navigating Misinformation in a Post-Election Landscape
Meta Platforms Inc., the parent company of Facebook, has implemented an extended ban on new political advertisements following the recent United States election. This decision is primarily aimed at preventing the spread of misinformation during a time when election-related claims can often provoke confusion. The company announced that this suspension would remain in effect until […]
British Pension Fund Invests 3% of Assets in Bitcoin
In a groundbreaking move, a British pension fund has made headlines by allocating 3% of its £50 million assets directly into Bitcoin. Spearheaded by pension specialist Cartwright, this investment marks the first of its kind in the UK, distinguishing itself from common trends of investing in Bitcoin-linked exchange-traded funds (ETFs). This decision comes after extensive […]
Vodafone and Three Merger Nears Approval with Consumer Safeguards
The ongoing discussions regarding the merger between Vodafone and Three UK have taken a significant step forward, with the UK’s Competition and Markets Authority (CMA) expressing conditional support for the deal. This merger is pivotal for the telecommunications landscape, potentially reshaping the competitive dynamics within the sector. Originally, concerns surfaced around the merger’s implications for […]
COP16 in Cali: A Commitment to Digital Sequence Information and Nature Recovery
The recent COP16 conference in Cali marked a pivotal moment for global environmental efforts, particularly in nature recovery strategies. The event drew prominent figures, including Environment Secretary Steve Reed, Nature Minister Mary Creagh, and Natural England Chair Tony Juniper. Central to the discussions was the agreement on Digital Sequence Information (DSI), a transformative approach to […]
How Big Box Retailers Won Over Premium Beauty Brands
In the competitive landscape of the beauty industry, premium brands are increasingly looking beyond traditional retail outlets like Sephora and Ulta Beauty. This shift in strategy is largely due to the aggressive expansion efforts of mass retailers such as Target and Walmart. These retailers have made substantial investments in their beauty sections, transforming their stores […]
Shein’s European Entity Reports 68% Sales Growth in 2023
Shein, a leading fast-fashion retailer known for its affordable clothing and rapid inventory turnover, has reported impressive growth within its European segment. The Ireland-registered entity, Infinite Styles Ecommerce Co, achieved a remarkable 68% increase in sales for the year 2023, reaching €7.684 billion (approximately $8.36 billion) according to the annual results released on November 5, […]
Asos Battling for Turnaround in Tough Market
In a challenging landscape for online retailers, Asos, the British fast fashion giant, is projected to face considerable hurdles as it tries to regain growth by 2025. The company recently reported an 18% decline in sales over the past six months, aligning with prior expectations, yet signaling a larger crisis in a competitive market. This […]
Join Imran Amed and The Business of Fashion in Bangkok
The Business of Fashion (BoF) is set to make a significant mark in Thailand with its inaugural community event happening on November 25, 2024. This gathering presents an exclusive opportunity for BoF Professional members to connect and engage with other industry professionals in a uniquely engaging environment. Hosted at the iconic Dusit Thani Bangkok, attendees […]
