ITC plans retail marts

KOLKATA: With its model mall in a Madhya Pradesh village proving a success, the cigarettes-to-hotels major ITC is set to build more hypermarts for rural India to replace age-old kirana or retail shops. ITC’s Choupal Sagar, as the hypermart in Madhya Pradesh is called, is connected to the company’s e-choupal network. Officials said 30 more Choupal Sagar hypermarts could be in the offing over the next 18 months. — HNS

Economy grows in HK

HONG KONG: Hong Kong’s economy grew faster than expected in the second quarter on strong exports and continued robust domestic consumption and investment. But government kept growth forecast uncha-nged. Financial Secretary Henry Tang described the growth as

‘very robust and stronger than expected.’ — AP

British economy

LONDON: Stable inflation in Britain is not a sure sign that all is well in the country’s underlying economy, one of the Bank of England’s governors warned. Speaking at the annual gathering of central bankers, economists and academics in Jackson Hole, Wyoming, Mervyn King warned

that British economy could be roiled by unexpected shock. King’s comments could be interpreted by markets that inflation volatility could be on the horizon in coming months. — AP

US, Vietnam dispute

MOBILE: A battle over imported basa catfish from Vietnam is sizzling in the Deep South, but federal officials say they have no plans for a nationwide ban. The imported basa catfish were banned in Louisiana, Mississippi and Alabama — three of the top catfish producers in the US

— after illegal antibiotics turned up in samples. — AP

MA may hire foreigner

KUALA LUMPUR: Loss-making Malaysia Airline (MA) is on a global search for a new chief to make it more competitive. Potential candidates include British Airways chief executive, Qantas executive GM and CFO and Association of Asia Pacific Airlines director-General. — AP