retail sector

Hong Kong aims to reduce high liquid content waste in landfills, a move supported by conservationists for preventing toxic leakage but opposed by the retail sector due to potential cost increases.

The Pakistani federal government is shifting the burden of Federal Board of Revenue (FBR) collection shortfalls to provinces, relying on levies and untaxed sectors like retail and petroleum to meet fiscal targets. Analysts attribute this to political economy challenges rather than administrative inefficiency, citing political resistance to expanding the tax base.

The government introduced a 'small trader scheme' offering a 1% voluntary turnover tax for retailers with annual sales up to Rs200 million, criticized as a political compromise that avoids documentation requirements like audits and digital invoicing. Critics argue it entrenches cash-based practices and widens the tax base distortion, as the corporate sector contributes disproportionately to tax revenues despite representing only 6% of GDP.

A Home Depot rival has closed all 15 of its stores and declared bankruptcy, primarily due to consumers' reluctance to spend. The company's financial collapse highlights challenges in the retail sector amid shifting consumer behavior.

A Nike rival that was once worth billions is shuttering all its stores, with the entire company selling for peanuts as the entire industry faces decline.