SINGAPORE > Italy’s Ferrero Opens Singapore Innovation Center

ferrero According to Ferrero’s press release, the company officially launched its Innovation Center in Singapore: the company’s first Asian innovation center. The center is designed to strengthen Ferrero’s position by furthering innovation in the areas of health and nutrition, new raw materials, product research and development and consumer insight. Ferrero’s decision to open the Innovation Center in Singapore is “motivated by its strategic location More …

SINGAPORE > Alibaba to invest $1 billion in Singapore based Lazada Group

library_logos_alibabaev_large China based Alibaba Group Holding Ltd. to invest $1bn for control of Lazada Group. Alibaba will pay $500m for new shares and purchase an equal amount from existing investors. Investors selling their share include Germany’s Rocket Internet, British supermarket chain Tesco and Swedish investment company Kinnevik. With the investment, Alibaba will add operations in 6 Southeast Asian markets – Indonesia, Malaysia, Philippines, Singapore, Thailand More …