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Club Med owner Fosun Tourism is boosted by Chinese tourists, reports US$69.5 million first-half profit

Club Med owner Fosun Tourism Group said on Monday net profit attributable to the company’s shareholders amounted to 490 million yuan (US$69.5 million) for the first six months this year, against a net loss of 254.5 million for the same period last year, mainly down to rising profit from tourism operations.The company said gross profit for the first half grew 67.7 per cent to 3.015 billion yuan, while revenue grew 35.9 per cent to 9.1 billion yuan, even as a slowing global economy continued to… Source link

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Money 

China changes the way bank loan rates are set, with HSBC left out of rate-setting club

China has changed its system for deciding bank lending rates so that the central bank can effectively influence and control interest rates, a significant move in the world’s second-biggest economy.The change – part of China’s long-standing pursuit of a market-based central banking structure – comes as the country’s economic growth is losing steam amid a protracted trade war with the United States and as Beijing seeks to cut financing costs for struggling small firms.Under the new system, a club… Source link

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Singapore 

How to get accepted into any private members business club, Lifestyle, Singapore News

Knock and a door will be opened to you. However, most private members’ clubs do not subscribe to this principle. If you have to ask, you may never be invited in. Commanding high prestige and high fees, professional associations such as the Young Presidents’ Organisation (YPO) and Soho House have constructed elaborate roads to membership. Nominations and referrals by existing members are given precedence, while some clubs conduct vigorous preliminary interviews to screen candidates. Soho House, with clubs in Europe and North America, accepts only those in the arts and…

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Hong Kong Bankers Club finds new home in Nexxus Building, to stay in Central

The Hong Kong Bankers Club, a hub for the city’s top bankers and financial professionals, will move to Nexxus Building on 41, Connaught Road in Hong Kong’s Central district, in October 2020, according to a letter sent to its members on Friday seen by the South China Morning Post.The 42-year-old club has hosted many dignitaries, including members of Hong Kong’s various regulatory authorities such the Hong Kong Monetary Authority and the Securities and Futures Commission. It also has individual… Source link

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Hong Kong belatedly joins mainland China in bull market club as upbeat sentiment lifts stocks

It’s official: Hong Kong is finally in a bull market.A mix of good news drove market sentiment. The Hang Seng Index jumped 1.8 per cent to close at 29,562.02 on Monday, the first trading session of the second quarter, gaining 20.2 per cent since a recent low in October.The Hong Kong market has gained over HK$5 trillion (US$637 billion) in value since October 30.The benchmark is a latecomer to the club. China’s major indices, including the Shanghai Composite, the large-cap CSI 300 and the… Source link

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Fosun to open Club Med ski resort near Beijing to capture China’s new-found love for snow sports leading to 2022 Winter Olympics

Club Méditerranée, which operates all-inclusive holiday resorts around the world, plans to open a winter retreat with a ski school near Beijing to take advantage of the expected popularity of snow sports during the 2022 Winter Olympics in the Chinese capital. The company, commonly known as Club Med, will open a resort near the Chinese capital, where the winter games are scheduled to be held in three years’ time. Several ski resorts – including the Secret Garden resort by Malaysia’s Genting… Source link

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Club Med owner Fosun Tourism swings to profit during its first year of listing in Hong Kong

Fosun Tourism Group, the Chinese owner of the Club Med resort chain, swung to profit in 2018, the year of its Hong Kong listing, as its resorts attracted more tourists.Full-year profit attributable to shareholders was 308.4 million yuan (US$45.9 million), or 0.30 yuan per share, compared with a loss of 196.5 million yuan in 2017, said the company in an exchange filing on Sunday. Revenues increased 38 per cent to 16.3 billion yuan, according to the statement.Business volumes from Club Med rose 8… Source link

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Singapore 

Man arrested for disorderly behaviour, causing hurt to police officer outside Lucky Plaza club, Singapore News

A 29-year-old man was arrested for multiple offences after being seen restrained and pinned down by police officers at Lucky Plaza in the wee hours of March 2. Videos circulating online show a crowd gathered outside the Platinum Music World club, located on the third storey of the shopping mall. In one video, a man can be seen putting up a struggle as several police officers tried to restrain him At least two voices, one male and one female, can be heard saying: “Don’t retaliate, don’t retaliate.” However, the man…

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Singapore 

Why the Platinium Dogs Club saga doesn’t shock Dog Whisperer Cesar Millan, Singapore News

The Platinium Dogs Club dog abuse saga may have outraged many Singaporeans when it came to light in January. But to celebrity Mexican-American dog behaviourist Cesar Millan, better known as the Dog Whisperer, instances of pet negligence are so common that his face was devoid of emotion when told about it. The operator of the local pet boarding facility has been arrested for alleged animal welfare offences following complaints of mistreatment by dog owners who used its services. A Shetland sheepdog reported missing from Platinium Dogs Club died while boarded…

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At least eight guests struck down by norovirus at luxury Club Med Yabuli resort in northern China

Eight guests celebrating the Lunar New Year holiday at the luxury Club Med Yabuli resort in northern China had contracted the norovirus sometimes known as “winter vomiting bug”, according to the resort operator. “Harbin local government confirmed that eight guests received medical treatment for symptoms of the ‘Winter Vomiting Bug’ Norovirus on February 9 and 10 at Club Med Yabuli in Heilongjiang Province,” said a statement released by Club Med on Monday. Harbin is the capital city of China’s nothernmost province. No one had been kept in hospital for treatment,…

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