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Some Asian tigers still have their teeth

Despite the economic crisis in Asia, Singapore and Hong Kong share first place in a ranking of the world's most competitive economies, published by the Geneva-based World Economic Forum. The United States came in third, while Britain is fourth. The ratings are based on the quality of a country's institutional environment, as affected by its government and legal system, taxation structure, management skills, education standards and its labor market flexibility. Britain's rating has rocketed from 18th place in 1995, while Japan, Germany and France have moved in the opposite direction.

BAA: Duty-free ban will cost travelers

BAA, the London-based operator of airports, said it will increase its charges to airlines as a result of a decision by European Community ministers to ban duty-free commerce for inter-European travelers, warning that this will lead to a rise in air fares. BAA said it will lose £70 million-£80 million ($114 million-$130 million) as a result of the EU decision, but added it will recover most of that through higher airline charges and the continued development of airport retail operations elsewhere in the world.

U.S. sales of women's apparel increase

Department store sales of women's apparel jumped 9% in the first quarter compared with the same period last year, according to The NPD Group. The Port Washington, N.Y., research company attributed the increase to more spending by affluent consumers and continuing strong sales of casual wear. Spending on women's apparel by households earning $60,000 and more increased 15%. Purchases of women's apparel from catalogs went up by more than 11%, and by over 8% at discount stores. It increased 3.3% in specialty stores. Meanwhile, overall men's apparel sales rose 6.7% in the same period.

And this week's special in aisle 12 ...

Tesco, Britain's largest supermarket operator, is extending its merchandise offerings to include pensions. Customers can pick up information in the stores inviting them to contact Tesco Personal Finance to subscribe to the plan, which is being offered in a joint venture with Scottish Widows, according to Britain's The Daily Telegraph. This marks the latest step in the supermarket giant's diversification of merchandise. In May the company began selling electrical products and, thanks partly to the then-looming World Cup soccer tournament, sold 40,000 television sets in one holiday weekend.

U.S. catalog moves into shopping centers

Another cataloger, Delia's, New York, is making the leap into stores, with the purchase of the mall-based chain Screeem! While the move did not initially please investors, analysts are standing firmly behind it, reports Crain's New York Business. The five-year-old Delia's, which sells junior women's apparel, has provided investors record earnings growth for several consecutive quarters, but its value dropped 8.4% with the announcement. However, analysts have expressed confidence in Delia's management under President and CEO Stephen Kahn. "They don't do anything without careful thought and planning," said Linda Killian, a portfolio manager at Greenwich, Conn.-based Renaissance Capital Group.

New York City opens its own store

The City of New York is getting into retailing, with the opening of the aptly named CityStore. The store will sell a range of products bearing New York symbols, including cufflinks, clothing, and key chains. The first outlet is scheduled to open in time for Labor Day near the Times Square Visitors Center. "We've got a great spot in a building, directly across from the only free public rest rooms in the city," William Diamond, commissioner of the Department of Citywide Administrative Services told Crain's. He added that, if successful, the city might consider franchising more locations.

Pharmacy makes closure less painful

New Orleans natives became pretty nostalgic when Rite Aid Corp., Camp Hill, Pa., said it was closing the K&B Drugs regional chain it bought last summer. K&B, founded in 1905, had built up a considerable following with its 186 stores in five states. So, after many approaches from New Orleanians seeking K&B keepsakes, Rite Aid held a yard sale, selling off matchbooks, bags, dosage spoons and other items from the old store. The sale served at least three purposes, Rite Aid told The Wall Street Journal: It provided locals with sought-after keepsakes; soothed feelings about a series of takeovers that have taken place lately; and raised money for Children's Hospital in New Orleans.