Cartier owner’s earnings sink as sales slump in China Posted on 08/11/2024 Cartier owner Richemont saw its global sales fall 1% to €10.1 billion. (AFP pic) ZURICH: Cartier owner Richemont posted today a 20% drop in net profit for the first half of the year as sales sank in China, whose economic slowdown has hit the luxury sector. Richemont said its profit after tax reached €1.7 billion in the six-month period ending in September, lower than expected by analysts polled by Swiss news agency AWP. Global sales fell 1% to €10.1 billion. Sales from the Asia-Pacific region were down by almost a fifth while all other regions in the world posted “solid growth”, Richemont said in a results statement. Citing “reduced consumer spending” in China, Richemont said growth in other Asian countries was “more than offset” by a double-digit drop in sales in the world’s second biggest economy. Last month, French group LVMH, the world’s biggest luxury company whose brands include Louis Vuitton, Dior and Bulgari, reported a 4.4% drop in third-quarter sales. Gucci owner Kering said its sales sank 15% in the same quarter due to slowing consumer spending in China. News
Kelantan police chief: Over 30 General Operations Force posts, police stations shut by floods; prank calls add to rescue challenges Posted on 30/11/2024 PASIR MAS, Nov 30 — A total of 27 General Operations Force (GOF) posts in Tumpat and Rantau Panjang and 10 police stations have been closed due to floods in the past several days. Kelantan police chief Datuk Mohd Yusoff Mamat said all GOF personnel had to seek shelter at… Read More
Crane topples in Putrajaya’s Precinct 8, killing two Indonesian workers and seriously hurting third Posted on 05/12/2024 PUTRAJAYA, Dec 5 — A tragic crane accident at a residential quarters building in Precinct 8 here claimed the lives of two Indonesian workers and left another critically injured while they were painting the structure this morning. The incident occurred at 9.20 am when the crane the three men were… Read More
12 paramedik, sukarelawan maut dalam serangan Israel di Lubnan Posted on 10/11/2024 Kementerian Kesihatan Lubnan mengutuk tindakan Israel yang terus menyasarkan paramedik dalam serangan udara yang dilakukan. (Gambar AP) BEIRUT: Serangan udara Israel ke atas beberapa bandar di daerah Tyre, selatan Lubnan pada Sabtu mengorbankan 12 paramedik dan sukarelawan pertahanan awam manakala tiga yang lain cedera, lapor Agensi Anadolu memetik Kementerian Kesihatan… Read More