Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
The Beauty Beneath the Expressway: A Journey from Self to Service 
Debate over H-1B visas shines spotlight on US tech worker shortages 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Youth are charting new freshwater futures by learning from the water on the water 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
What’s the difference between baking powder and baking soda? It’s subtle, but significant 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Lotte Duty-Free has inked a 10-year concession to operate duty-free shops at Melbourne Airport and will begin operating its 592 square-meter store on June 1.
The project marks the South Korean travel retail giant’s second-largest global airport operation after Singapore’s Changi Airport.
Lotte Duty-Free also plans to increase the Melbourne Airport store’s footprint to 5800 square meters and is eyeing annual sales of $243 million.
The Melbourne Airport store will offer cosmetics, perfumes, alcohol and cigarettes, fashion, and miscellaneous goods.
According to Lotte Duty-Free CEO Kim Ju-nam, the Melbourne Airport store will be a key hub for their global business expansion and market recovery.
In 2018, the business increased its presence in the Australia-New Zealand travel retail sector by purchasing five JR Duty-Free locations there. Since then, it has established stores at Brisbane, Darwin, and Canberra airports. Additionally, it has a store at Wellington Airport in New Zealand.
With store openings all year long, Lotte Duty-Free has been gradually growing its global business, including its downtown locations in Sydney and Danang. The business operates 13 locations in six different countries.
Due to the resumption of cross-border travel, the company reported a 340 percent boost in sales for its international division last year compared to 2021.
The market has seen heated competition with major players such as Dufry, Heinemann, and DFS.
