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Prada profit surges in first half, as tax benefit helps overcome Asia sales slowdown

Italian luxury brand Prada announced net profit surged 55.7 per cent in the six months through June, largely due to gains from a tax benefit which helped offset shrinking sales in Asia-Pacific.Net income for the group during the six-month period totalled 154.89 million euros (US$171.31 million), compared to 99.46 million euros a year earlier, and beating the average forecast of 108.9 million euros among analysts polled by Bloomberg.Hong Kong-listed Prada said in the earnings announcement that… Source link

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Vietnam 

Hoa Sen after-tax profit surges 94 per cent – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Hoa Sen has announced a 97 per cent growth in Q3 profit.  Photo Courtesy Hoa Sen Group HCM CITY — Steel maker Hoa Sen Group has reported a 94 per cent jump year-on-year in third quarter profit after tax to VNĐ161 billion (US$6.9 million). Its third quarter for the fiscal year 2018-19 lasts from April 1 to June 30 2019. Operating profit was up 127 per cent at VNĐ208 billion ($8.9 million). But net revenues slumped by 30 per cent to VNĐ7.2 trillion ($310 million). The gross profit margin for…

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Huawei first-half revenue surges 23 per cent as China telecoms giant fights off US tech ban impact

Huawei Technologies, the world’s largest telecommunications equipment vendor, said its revenue expanded by 23.2 per cent year-on-year in the first half of 2019, as the company battles the effects of being added to a US trade blacklist since mid-May.The Shenzhen company generated revenue of 401.3 billion yuan (US$58.3 billion) in the first six months of the year, up from 325.7 billion yuan during the same period in 2018, thanks to a sharp jump in smartphone shipments and robust demand for its 5G… Source link

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Tesla surges on record quarter of deliveries, boosted by strong Model 3 car sales in China, Europe

Tesla shares surged in European trading as a record quarter of deliveries alleviated the worst fears about demand for the Elon Musk-led company’s electric vehicles.The Model 3 maker handed over 95,200 cars to customers in the three months ended June, exceeding the previous best mark set in the last quarter of 2018. Tesla’s delivery count exceeded all but one analyst’s estimate in a Bloomberg News survey.Tesla shares soared as much as 7.7 per cent on Tradegate early on Wednesday. The stock was… Source link

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Vietnam 

Telecom firms add more transceiver stations as 4G demand surges – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Telecommunication network companies have added more 4G transceiver stations to meet rising customer demand.— VNA/VNS Photo Hằng Trần HCM CITY — Telecommunications companies are improving their services to meet the demand for livestreaming, watching online television shows and playing online games. The country has 64 million subscribers using the internet, including 99 per cent watching livestreaming, 55 per cent watching online TV shows, and 53 per cent playing online games, according to a report from the group We Are Social Organizations. YouTube, Facebook, Facebook…

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China 

China’s consumer spending surges over extended Labour Day holiday

Beijing’s decision to extend this year’s Labour Day holiday from 24 hours to 96 achieved the desired effect of increasing consumer spending, according to official figures.Between Wednesday and Saturday, revenue from tourism rose 16.1 per cent year on year to 117.7 billion yuan (US$17.5 billion), while the number of “tourists” rose 13.7 per cent to 195 million, the Ministry of Culture and Tourism said on its website.Also, cinema box office revenue over the period soared to more than 1.5 billion… Source link

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Vietnam 

Việt Nam’s four month industrial production surges 9.2% – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A coal extraction site of Vinacomin’s Cọc Sáu Coal JSC, located in the northern province of Quảng Ninh.  The mining industry stayed flat compared to a year earlier, fueled by the 13 per cent growth in coal exploitation volume at 15.87 million tonnes. —Photo baoquangninh.com.vn HÀ NỘI — The nation’s industrial production index (IIP) saw a positive year-on-year increase of 9.2 per cent in the first four months of this year, according to the General Statistics Office (GSO). The figure was lower than the 10.7 per cent growth seen in the same period last year, but…

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Vietnam 

Đồng Tháp surges ahead with GAP quality for fruits, innovative selling methods – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Farmer Võ Văn Nang hangs a board on a tree in his xoàn orange orchard in Cao Lãnh City’s Tân Thuận Đông Commune. It has the tree’s code and the name of the customer who bought its fruits for a period of one year. – VNA/VNS Photo Chương Đài   ĐỒNG THÁP – The Mekong Delta province of Đồng Tháp is encouraging farmers to grow more fruits to good agricultural practice (GAP) standards to improve incomes and sustainability.   It has more than 600ha of VietGAP- and GlobalGAP-standard…

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Vietnam 

Nation’s industrial production surges in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Coke is loaded onto a truck to be transported to factories in the northern province of Quảng Ninh. Coke production posted high IIP growth in the first quarter of this year. Photo vietphatjsc.com.vn Viet Nam News HÀ NỘI – The national industrial production index (IIP) saw a year-on-year increase of 9.2 per cent in the first quarter of this year, according to the General Statistics Office (GSO). The positive growth was fuelled by the processing and manufacturing industry which increased remarkably by 11 per cent compared to the same…

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Vietnam 

Insurance industry growth surges 17% in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam’s insurance industry maintained positive growth in the first quarter of this year, with total premiums surging by 17 per cent year-on-year, according to reports from the General Statistics Office. Life insurance surged by 23 per cent, while non-life insurance increased by 9 per cent. According to the Ministry of Finance’s Insurance Supervisory Authority (ISA), the insurance industry is targeting a growth rate of 20 per cent this year. Experts remain upbeat about the industry’s health in the coming…

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