Supermarkets Urged To Give More Back To Society
"); jQuery("#212 h3").html("

"); });
2020-09-23 HKT 14:40
Hong Kong's two leading supermarkets have come in for more criticism despite offering vouchers and discounts to the public amid the coronavirus outbreak, with fresh complaints about what people see as high prices as well as the companies' failure to benefit the public upon receiving a government subsidy to save jobs.
Callers to the RTHK's Millennium programme on Wednesday said prices at the two major supermarkets, ParknShop and Wellcome, were higher than usual during the pandemic.
One caller pointed out that the price of cabbage was several times more expensive at the chains than at the wet market, and prices of rice and cooking oil were also higher than usual.
The two chains, which dominate the market, "make all the money", said another caller.
On Tuesday, ParknShop and Wellcome announced they will issue cash coupons worth millions of dollars to low-income households. They also unveiled another discount coupon plan, worth around HK$400 million, for the general public.
But lawmaker Vincent Cheng from the DAB, the city's biggest pro-Beijing party, said the plan of the retail chain owners to return to the people an amount equivalent to about 50 percent of the subsidy they'd received from the government was too small.
Cheng said they should give back at least 80 percent of the money they got from the government's job-retention scheme.
He said the supermarkets are still making a profit despite selling items at a discount.
A16z Crypto Opens First Office In Seoul To Expand In Asia
a16z crypto, the crypto-focused arm of Andreessen Horowitz, has announced its expansion into Asia with the opening of i... Read more
Trio AI And AbbyPay Partner To Integrate AI Into Payment Processing
Trio AI, a Hong Kong-based AI infrastructure service provider, has signed a MouU with AbbyPay, a POS-free digital payme... Read more
Modernising Bank Payments: How Banks Can Win In Merchant Acquiring
Banks have been the backbone of merchant acquiring. Their regulatory strength, trusted brands, and long-standing mercha... Read more
KPay Enables Tap To Pay On IPhone For Hong Kong Merchants
KPay now allows its Hong Kong merchants to accept in-person contactless payments using Tap to Pay on iPhone. The featur... Read more
HashKey Group IPO Targets Up To HK1.67 Billion In Hong Kong Listing
Licensed crypto exchange HashKey Group is intending to raise as much as HK$1.67 billion in its Hong Kong initial public... Read more
Endowus Launches Income Enhanced Portfolio For Professional Investors
Endowus, an independent wealth advisor and investment platform in Asia, has launched its Income Enhanced Portfolio, ava... Read more
