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Chinese supermarket chain Pang Dong Lai to close flagship store over rental dispute_我的网站

A |     Cairo, Oct 15 (UNI) External Affairs Minister S Jaishankar on Saturday arrived here in Egypt on a two-day visit and paid homage to Mahatma Gandhi at the Al Horreya Park.

"Began the day by paying homage to Bapu at Cairo’s well-known Al Horreya Park, so closely associated with the cause of Freedom. May his message keep inspiring the world to strive for justice and equality for all," the Minister tweeted.

Jaishankar has arrived here on a two day official visit at the invitation of Sameh Hassan Shoukry, Minister of Foreign Affairs of Egypt. The External Affairs Minister will discuss a range of bilateral, regional and international issues of mutual interest with Foreign Minister Sameh Shoukry.

This is Jaishankar's first bilateral visit to Egypt.

The EAM is also scheduled to interact with the Indian community based in Egypt, including students, and address a gathering of Egyptian and Indian business community.

India and Egypt traditionally enjoy warm and friendly relations underpinned by historical and cultural linkages.

Both countries are celebrating 75 years of establishment of diplomatic relations this year.

Egypt has been invited as a ‘Guest Country’ during India’s Presidency of G-20 in 2022-23.

Egypt has been one of India’s largest trading partners in Africa and the promotion of bilateral trade, commerce and investments will be one of the focus areas during the visit, the Ministry of External Affairs said.

India - Egypt bilateral trade touched a record high at US$ 7.26 billion during FY 2021-22.

Indian investment in Egypt exceeds US$ 3.15 billion.

Over 50 Indian companies are actively present in Egypt in a range of sectors like manufacturing, chemicals, energy, infrastructure, retail etc.

Jaishankar's visit to Egypt will provide an opportunity to review the entire gamut of bilateral and multilateral relations and to exchange views with the Egyptian leadership covering whole range of issues of mutual interest.

The visit provides an opportunity to deepen cooperation and explore new initiatives in the bilateral partnership.

UNI ASU ING。    (ECNS) -- Regional supermarket chain Pang Dong Lai will close its flagship branch in Xuchang, Henan Province, in December 2026 after a rental dispute, founder Yu Donglai announced Sunday.    Yu said some employees failed to sign lease agreements in 2015, leading to sharp rent increases for several tenants. Though they represented only a small share of the store, he stressed the issue violated the company's principles of fairness and integrity.        The Xuchang store, opened in 2002 as Pang Dong Lai's first large‑scale complex, generates about 2 billion yuan ($280 million) in annual sales and more than 100 million yuan in profits.    The company previously closed its Xinxiang store in 2015 after rent tripled, later reopening at a new site with government support.    Facing rising rents, Pang Dong Lai is increasingly investing in properties it owns itself. Its Xuchang Mengzhicheng project, the company's largest single investment, involves nearly 6.5 billion yuan in construction and renovation costs, funded entirely with its own capital and without bank loans. Covering 575,900 square meters, the project will include department stores, restaurants, hotels and other businesses, and is expected to open in September 2029.    (By Gong Weiwei)                            。

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Published on:13:31:06