Share to Twitter Share to Linkedin Bosideng, China’s top home-grown down jacket brand, said on Wednesday it overcame Covid and other global headwinds and reported gains in sales and profit for the 12 months ending March 31. Sales increased by 20% to 16.2 billion yuan, or $2.4 billion, helping to lift profit by 21% to approximately 2.06 billion yuan. Bosideng was upbeat about the outlook this year. “Currently, global consumption demand for apparel is recovering steadily,” it said. “Although we confronted numerous challenges from the epidemic and other various aspects in 2021, we still believe that from a long-term perspective, China’s economy will recover in an orderly manner in the post-epidemic era.” Bosideng is led by its colorful 70-year-old CEO Gao Dekang, who has a fortune worth $4.8 billion on the Forbes Real-Time Billionaires List. Itochu of Japan is an investor; rivals include Canada Goose. Bosideng’s Hong Kong-traded shares have fallen 16% in … [Read more...] about Canada Goose Rival Bosideng Reports Profit Gain, Sees Apparel Recovery
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World-class ‘aerocity’ rising
DREAMGATEWAY Exterior design of SMC’s P740-billion New Manila International Airport in Bulakan, Bulacan, the single most expensive infrastructure project in Philippine history. —CONTRIBUTED PHOTOS Ramon S. Ang is never out of new ideas, especially when it comes to expanding the business and economic footprint of one of the country’s largest conglomerates, which he heads. When we sat down for an interview recently, however, the president and CEO of San Miguel Corp. (SMC) seemed more focused than usual on one particular project—one mega project which, by his own admission, will only start making money two decades after its completion. At a total projected cost of P740 billion ($13.5 billion)—to be financed solely by the company without a single centavo of funding from the government—the new Manila International Airport in Bulakan, Bulacan, is the most expensive infrastructure undertaking in the country’s history whether by a public or private entity. “This is a legacy project … [Read more...] about World-class ‘aerocity’ rising
Bacterial Communication Inspires Artists To Design A Decentralized Wifi Network For Protestors
Share to Twitter Share to Linkedin Earlier this week, Ars Electronica announced the winners of this year’s “Golden Nicas” in the Prix Ars Electronica media art awards. In the category “Interactive Art +”, the winners were Jung Hsu and Natalia Rivera of Berlin University of the Arts, who designed a solution to make socially distanced protests more impactful. It’s called Bi0film.net and it’s inspired by the way that bacteria form networks and communicate with each other. Hsu and Rivera noticed how social distancing measures during the COVID-19 pandemic had affected the way that people were able to practice acts of civil resistance, when banding together in a large crowd was no longer possible. In the description of their award-winning project ”Bi0film.net: Resist like bacteria” , they write, “bacteria, which were here long before us, have developed amazing technologies of distributed communication and self-organized collaboration.” One example … [Read more...] about Bacterial Communication Inspires Artists To Design A Decentralized Wifi Network For Protestors
China’s central bank renminbi liquidity arrangement includes Malaysia
SHANGHAI: China's central bank (pic) said on Saturday it had signed an agreement with the Bank for International Settlements to establish a Renminbi Liquidity Arrangement (RMBLA) that will provide support to participating central banks in times of market fluctuations. The People's Bank of China (PBOC) said the arrangement's first participants, in addition to the PBOC, would include the Central Bank of Malaysia (Bank Negara), Bank Indonesia, the Hong Kong Monetary Authority, the Monetary Authority of Singapore and the Central Bank of Chile. Each participant will contribute a minimum of 15 billion yuan ($2.2 billion) or the U.S. dollar equivalent, it said. The BIS said in a separate statement that the funds could be contributed either in yuan or U.S. dollars, and that they would be placed with the BIS, creating a reserve pool. ($1 = 6.6878 Chinese yuan renminbi) - Reuters … [Read more...] about China’s central bank renminbi liquidity arrangement includes Malaysia
To Put The G7 Back In Business, Strike A New Deal On The Dollar
Share to Twitter Share to Linkedin Rarely have the stakes for a Group of Seven summit been so sky-high and the expectations for success so deep in the mud. Even the agenda for the June 26-28 confab in the Bavarian Alps suggests the G-7’s worldview is currently a million miles wide and one inch deep. Look, it’s grand that the host, Chancellor Olaf Scholz of Germany, has put together a multifaceted program for the leaders of key industrialized democracies. Few can quibble with discussions on helping Ukraine and additional Russian sanctions. Topics from climate change to food security to gender equality are very worthy of focus. But the G-7’s best shot for impact and relevance on June 29, the day after the summit, is something almost completely absent from the pre-summit conversation: a grand deal on currencies. Granted, foreign-exchange issues tend to be handled a bit lower down the political food chain, by finance ministers and central bank … [Read more...] about To Put The G7 Back In Business, Strike A New Deal On The Dollar
Bea Alonzo, under lie detector test, says she wants prenup agreement with future husband
Image: screengrab from YouTube/Bea Alonzo Bea Alonzo took on the lie detector test challenge and answered a few personal questions which included her plan of having a prenuptial contract with her future partner. During the question-and-answer session, a real lie detector test machine was attached to the actress while a professional examiner gives a signal if Alonzo is telling the truth, as seen on her YouTube channel yesterday, June 25. “In the future, would you ever get a prenup?” a staff member asked Alonzo, to which she replied, “Yes. Feeling ko (I feel like) it goes without saying.” The test yielded that she was telling the truth with her answer. While she did not elaborate on her answer, Alonzo’s love life and experiences were also brought up after she was asked about her preferences in a partner. Alonzo supposedly lied after she claimed that she has good taste in men. Moreover, Alonzo admitted that she owes an apology to one of her exes although the actress did not … [Read more...] about Bea Alonzo, under lie detector test, says she wants prenup agreement with future husband