date:Jun 23, 2015
l CEO criticizes Russian law to reduce supplier payments
The head of X5 Retail Group NV, Russias second-largest retailer, criticized the governments proposed limits on supplier payments, saying its not the best thing to do to counter rising consumer prices,Bloombergreports. The planned legislation caps the average bonus suppliers pay retailers to 3% of the goods value versus the current 10%. The bill, which aims to keep prices in check and ease access to store shelves for local producers, was p