Wildberries plans to build a $150 million warehouse in Uzbekistan
The issuer is solely responsible for the content of this announcement.
About Wildberries
Established in 2004 in Russia, Wildberries is a leading e-commerce platform operating in Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, while also partnering with sellers in China and the UAE. Wildberries provides a state-of-the-art IT infrastructure to support customers and sellers, along with a developed logistics network spanning more than 130 facilities and 70,000 pick-up points across its markets. As of 2025, Wildberries serves over 79 million customers and processes more than 20 million orders per day.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
10 hours ago
- Malay Mail
Malaysia must focus on strengthening the Ringgit, before and after August 1 — Phar Kim Beng
JULY 23 — Let's face it. With or without a tariff from US, pegged at 25 per cent or lowered potentially to 19 per cent, Malaysia has to negotiate the tax down to zero in order to make our export sectors competitive. This is the formula of Indonesia, the Philippines and Vietnam; which is also aspired by Thailand. In other words, bite the bullet of Trump's tariffs on August 1 or after, but lock the Trump Administration in a perpetual negotiation to take the tariff down to zero. Not unlike how Malaysia's Semi Conductors and integrated circuits are exempted completely from any Trump tariffs. In this context, Prime Minister Anwar Ibrahim's speech to Malaysia was extremely important. On 23 July 2025, Anwar delivered a detailed account of Malaysia's economic progress, supported by a catalogue of impressive statistics. The 4.4 per cent GDP growth in Q1 2025, a projected 4.5 per cent in Q2, and a meteoric rise of 11 places to 23rd in the World Competitiveness Index are not easy to achieve, especially when the US and Chinese economies are locked in a trade war. As and when Anwar takes a more confident outlook, this underscores an administration working with clear intent and focus. Yet, among all the indicators, one stands out as the most consequential for long-term national resilience: the strengthening of the Ringgit. In the past year, the Ringgit has appreciated over 5 per cent, placing it among Asia's top five performing currencies. Even though the Ringgit was Asia's best currency in 2024. Sino-US turbulence has affected Ringgit as much as it has rocket Singapore Dollar too this year. As and when Anwar takes a more confident outlook, this underscores an administration working with clear intent and focus. — Picture by Sayuti Zanudin It was Jeff Friedman, a leading Professor of Economics at Harvard, who affirmed: 'When all figures are too difficult to compute, focus on the currency. Just the currency.' By this token, Ringgit is a structural cornerstone of Malaysia's fiscal independence, investor confidence, and people's purchasing power. A strong Ringgit cushions the economy against imported inflation, especially in a world where commodity prices are volatile and geopolitics is increasingly zero-sum. A strong Ringgit lowers the cost of food imports, medical supplies, industrial components, and educational materials— all of which directly impact the cost of living. Indeed, while initiatives such as raising the minimum wage hike to RM1,700 — parallel to the living wage policy for 153,000 GLIC/GLC workers, and the targeted RON95 subsidy — are all critical, they are vulnerable to external shocks too. That is, if the Ringgit is forever weak. But the Ringgit remains strong, which is why Anwar puts it at the start of his speech. The rest were the icing on the cake. Ringgit Malaysia, for lack of a better word, was the cake that could help the Malaysian economy to grow. When the Ringgit is strong, no credit rating agencies dare to lower our National Credit Ratings. Not by Fitch. Let alone by Moody's and Standard and Poor's. Alternatively, when the Ringgit falters, every gain in wages is offset by higher prices of essentials. Malaysians can't even travel to Thailand or anywhere in Asean writ large. In turn, inflation would quietly erode lol purchasing power, especially among the B40 and M40 who do not hold dollar-denominated assets at all. Moreover, Malaysia's record-high approved investments of RM384 billion in 2024 (+17 per cent YoY) will only translate into real economic dividends if the currency holds strong. No FDI will flow in if the value of RM is highly questionable in the short and long term. Foreign direct investors seek not just opportunity, but also currency stability to preserve the value of their returns. In this regard, the Ringgit's performance is the ultimate litmus test of macroeconomic credibility. A strong Ringgit also allows Malaysia to hold its ground diplomatically and economically in increasingly transactional trade negotiations. As President Donald Trump prepares to impose 25 per cent baseline tariffs on imports from countries such as Malaysia, a robust currency offers some insulation. Ringgit acts as an internal buffer against price hikes on strategic imports—especially on food, fuel, fertilizers and animal feed. A fragile Ringgit under these conditions would further delay investments in high-tech clusters like Johor-Singapore's data processing corridor. In turn, eroding trust in Malaysia's medium-term economic outlook. Furthermore, domestic fiscal policy can be more targeted when the Ringgit is strong. Cash aid can be meted out, no matter how minute, as Anwar did. Without currency stability, such cash transfers risk triggering demand-driven inflation, thereby undermining the very goal of cost-of-living relief. Similarly, the doubling of Rahmah Sales to RM600 million across all 600 state constituencies will only succeed in easing household burdens if supply chains remain unshaken by currency fluctuations. The government's decision to postpone toll rate hikes—absorbing RM500 million in compensation—and the maintenance of the RON95 petrol price at RM1.99 per litre is a salving grace. But these measures would not be possible if the Ringgit is weak. Say, at RM 4.70 to USD 1. Invariably, a strong Ringgit mirrors the electricity subsidy model; all depend heavily on a firm currency footing. Otherwise, the government will find itself locked in a losing game of chasing subsidies amid a depreciating exchange rate. What is more, even Malaysia's noble efforts in poverty eradication—150,000 hardcore poor households lifted out of poverty—can be reversed if inflation rises due to currency depreciation. Once again, Ringgit plays a pivotal role. While fiscal transfers under STR and SARA (RM15 billion combined) and JKM aid (RM2.9 billion) are critical, the medium-term efficacy of these programmes rests on stable pricing for essentials, which in turn depends on the Ringgit. In short, Malaysia can no longer afford to treat the Ringgit as a passive indicator. It must be made the centerpiece of strategic planning. Bank Negara Malaysia and the Ministry of Finance must synchronize monetary and fiscal policy with foreign investment flows, ensure minimal capital flight, and enhance Ringgit-denominated savings and bond issuances. The goal is to make the Ringgit a trustworthy store of value not just for Malaysians, but for Asean partners and regional investors. The message from Anwar Ibrahim is clear: 'the people, the people, the people.' But to protect the people from future shocks—from tariff wars to food crises—Malaysia must now pivot to 'the Ringgit, the Ringgit, the Ringgit.' A dignified life for all Malaysians begins not only with job creation and subsidies, but with a stable and respected national currency. The foundation has been laid. It is time to build. * Phar Kim Beng is a professor of Asean Studies and director of the Institute of Internationalization and Asean Studies at the International Islamic University of Malaysia ** This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
Free Malaysia Today
2 days ago
- Free Malaysia Today
Trump tariffs force Greek olive oil producers to seek new markets
Greece, the fifth-largest exporter of olive oil to the US, ships about 8,000-10,000 tonnes there annually. (EPA Images pic) VARVASAINA : Greek olive oil producer Konstantinos Papadopoulos wasted little time when the threat of US tariffs was floated by president Donald Trump in the spring. He immediately started looking for alternative buyers around the world. Within weeks, his family-run company had found a new buyer in Brazil, where Portuguese olive oil typically dominates. His first shipment of 15,000 bottles is expected to arrive in the port of Itapoa in two weeks. When Reuters visited his farm on Friday, Papadopoulos was close to sealing a separate deal with a new customer in Australia. 'I think we learned a lesson from Trump not to rely with all our strength on one market… and to always have alternatives,' Papadopoulos said in his olive oil mill and bottling plant, surrounded by thousands of bottles and huge tanks filled with the golden liquid. Trump announced a 30% tariff on European products that has sent shivers through industries from wine and peaches to cars. Papadopoulos' decision shows just how wide the fallout could be as producers grow weary even of the threats of tariffs. Greece, the fifth-largest exporter of olive oil to the US, ships about 8,000-10,000 tonnes there annually. Three of the other top producers – Spain, Italy and Portugal – are in Europe and face the same conundrum. The industry is huge for Greece, whose rolling hills are filled with groves of ancient, crooked olive trees. The Papadopoulos family company exported 350 tonnes of extra virgin olive oil in 2024 to the US, about one-third of its total exports, and 100 tonnes so far this year. He estimates that if Trump's tariff materialises sales to the US will fall by about 40% this year. 'While we had built all our infrastructure based on a large scale on the American market, suddenly we see it disappearing,' Papadopoulos said.
Malay Mail
3 days ago
- Malay Mail
Melaka inland port to boost rail logistics, support regional investment
MELAKA, July 21 — The Melaka Inland Port development in Taboh Naning, Alor Gajah, will provide investors streamlined facilities for the movement of goods via rail, said Chief Minister Datuk Seri Ab Rauf Yusoh. He said the 52.89-hectare logistics-focused development is intended to support investors in Melaka and the neighbouring states of Johor and Negeri Sembilan. 'MCORP signed an agreement with DS Rail Mobility Sdn Bhd on June 13, 2025, to develop the project, with a gross development cost of RM230.8 million for Phase 1. This forms part of the larger MCORP Hi-Tech Park development, which covers 2,023 hectares. 'The project planning began in November 2024, and the company is currently preparing the necessary documents for approvals, including planning permission from local authorities and impact assessment studies,' he said at the Melaka legislative assembly sitting in Seri Negeri today. He was responding to a question from Datuk Zulkiflee Mohd Zin (BN-Taboh Naning), who had asked for updates on the inland port project. Expanding on the matter, Ab Rauf said the project is being developed with a comprehensive environmental, social, and governance approach, encompassing green technology, low-carbon rail connectivity, community empowerment, and transparent governance, aligned with Melaka's sustainable development agenda and the Sustainable Development Goals. He said this reflects a commitment to responsible development that prioritises local community wellbeing and environmental protection. Ab Rauf also noted that the Works Ministry has approved a RM30 million road upgrade project from the Simpang Ampat toll roundabout to the Alor Gajah-Melaka Tengah-Jasin (AMJ) highway under Rolling Plan 3 of the 12th Malaysia Plan to support the inland port development. The upgrade involves widening the road from a single to a dual carriageway, reinforcing slopes, constructing drainage systems, acquiring land, relocating utilities, and carrying out other related works. 'The project is in the final stages of detailed design, with land acquisition processes under Sections 4 and 8 expected to be submitted to the Melaka Department of the Director General of Lands and Mines in early August 2025. 'The tender advertisement is expected in mid-August 2025, with contractor appointment anticipated by December 2025,' he concluded. — Bernama
