CONTENTS

PRINT THIS STORY:

CHANGE TEXT SIZE:

Southeast Asia’s largest developer, CapitaLand, has canceled the launch of what would have been Singapore’s first REIT, citing poor market conditions. The company owns three malls in Singapore among other assets. … Wal-Mart Stores will open its first five units in Beijing over the next few years through its Wal-Mart China subsidiary. The company operates 12 Supercenters and three Sam’s Clubs in China, all in the southern part of the country. … Mexican billionaire Carlos Slim Helu and his family have bought 578,000 common shares of upscale retailer Saks Inc., raising their total stake to 21.8 million shares, about 15 percent of the company’s outstanding stock. … Torrance Co., owner of Del Amo Fashion Center, Torrance, Calif., gave each of its 100 employees $100 in cash, with the caveat that the money had to be spent within the community. … Pyramid Cos., which is in the midst of a $1.3 billion expansion of the 1.6 million-square-foot Carousel Center, Syracuse, N.Y., said it will rename the center DestiNY USA. The expansion will bring it to more than 5 million square feet. … The British Council of Shopping Centres is calling on the British government to revamp what it calls the “torturous, bureaucratic and under-resourced” planning system that is now used by towns and cities in the country. New out-of-town centers are banned in the United Kingdom. … Starbucks Coffee has opened its 300th store in Japan and completed its initial public offering of Starbucks Coffee Japan on the Nasdaq Japan market. … The city of Bradford, England, hired a psychologist to help shopkeepers to increase Christmas sales. He gave merchants advice on how to think like customers.

— Dave Bodamer