Transat AT beats Q4 profit expectations moving ahead with hotel plans

first_imgThe Canadian Press Companies in this story: (TSX:TRZ) MONTREAL — Transat A.T. Inc. says it earned $7.8 million in its latest quarter, down from a year ago when its results were boosted by the sale of its interest in Ocean Hotels.The Montreal-based travel company says its fourth-quarter profit amounted to 21 cents per share for the quarter ended Oct. 31, compared with a profit of $148.1 million or $$3.97 per share a year ago.On an adjusted basis, Transat says it earned 45 cents per share in its most recent quarter, compared with an adjusted profit of $1.24 per share in the same quarter last year.Analysts on average had expected a profit of 41 cents per share, according to Thomson Reuters Eikon.Revenue totalled $668.3 million, down from $698.6 million.Transat says the results came as the company completed the acquisition of its first parcel of land in Puerto Morelos, Mexico, as part the development of its hotel division.last_img read more

China to cut taxes keep currency stable to counter slowdown

first_imgBEIJING — Senior Chinese economic officials say they will slash taxes, step up spending and help resolve financing problems of private and small enterprise to help counter the country’s worst slowdown since the global financial crisis.The officials said Tuesday that Beijing will keep its monetary policy stable but flexible. A deputy central bank governor, Zhu Hexin, said the People’s Bank of China was confident it can keep the value of the Chinese yuan steady.The officials were outlining plans for 2019 that were set at an annual policy meeting in December.In July-September, China’s economic growth sank to a post-crisis low of 6.5 per cent compared with a year earlier despite government efforts to stem the downturn by ordering banks to lend more and by boosting spending on public works construction.The Associated Presslast_img read more

Three held for beating up fish vendors

first_imgKolkata: The Baguiati police station on Friday arrested three civic volunteers on charges of demanding money from some fish vendors and allegedly assaulting them after the fish vendors refused to comply to their demands. The incident took place when two vendors were proceeding towards Khoribari from Tegharia in the morning to buy fish and later sell it in the local market at Baguiati. According to the complaint lodged at the police station by one Sukumar Rajbangshi of Arjunpur Paschimpara, Rajbangshi along with five others were boarded in a small matador when their vehicle was stopped by three civic volunteers in the pretext of checking. Also Read – Centuries-old Durga Pujas continue to be hit among revellersThey demanded money from them and when they refused, the civic volunteers hurled abuses and assaulted the driver of the vehicle Nur Islam Molla and snatched cash worth Rs 20,000 that they were carrying for purchasing fish. “We have arrested Raju Ghosh alias Bapi, Rajib Chowdhury and Avisek Mondal for their involvement in the act,” a senior official of Bidhannagar City Police said. The injured driver Molla was taken to a local hospital. He had suffered injuries on his head and has had four stitches. It may be mentioned that this is not for the first time when the civic volunteers in the state havebeen involved in such acts. The police have taken strong action against them on more than one occasion but they are misusing their uniform and are often causing harassment to common people.last_img read more

Xi says EU China advancing together despite suspicions

first_imgParis: Chinese President Xi Jinping said Tuesday that China and Europe were “advancing together” but that the two trading blocs needed to overcome “suspicions”. “Of course there are differences and competition, but it’s positive competition,” Xi told a press conference in Paris with the leaders of France, Germany and the European Commission. “We are advancing together. We shouldn’t let suspicions lead us to be constantly looking backwards.” Xi was speaking on the third day of a France visit dominated by concerns over China’s massive investments on the continent, which are being built up through a series of bilateral deals. Also Read – Saudi Crown Prince ‘snubbed’ Pak PM, recalled jet from USFrench President Emmanuel Macron urged his Chinese counterpart to “respect the unity of the European Union” and called for an “exemplary relationship” between Europe and China during the joint press conference. “No one is naive but we respect China,” Macron said, while adding that EU leaders “naturally expect our major partners to respect the unity of the European Union and the values that it has and carries in the world.” Macron, German Chancellor Angela Merkel and EU Commission chief Jean-Claude Juncker all labelled China a “rival”, and Merkel and Juncker urged the Asian giant to give the EU the same market access as it afforded Chinese companies. Also Read – Record number of 35 candidates in fray for SL Presidential pollsReferring to China’s vast “New Silk Road” infrastructure project connecting the country with Europe, which has sparked unease in the EU, Merkel said: “We Europeans want to play a role.” But, she added, “there has to be a bit of reciprocity on either side and we have a bit of difficulty in finding it.” Juncker said that labelling China a rival was meant as a “compliment” to the country. Speaking ahead of a EU-China summit on April 12, he also called for a more balanced relationship. “European businesses must see the openness in China” that Chinese companies enjoyed on the continent, he said.last_img read more

Arsenal climb to third with victory over Newcastle

first_imgLONDON: Goals from Aaron Ramsey and Alexandre Lacazette gave Arsenal a 2-0 win over Newcastle United on Monday and lifted them to third place in the Premier League above rivals Tottenham Hotspur and Manchester United. Ramsey found his way through a packed defence on the half hour to score with a low shot before Frenchman Lacazette put the game to bed in the 83rd minute with a chip over the keeper. The result put Arsenal on 63 points with seven games left, two above Spurs and Manchester United, with Chelsea a further point behind, as Unai Emery’s side boosted their hopes of a top-four finish and Champions League football next season. Five of Arsenal’s remaining seven fixtures are away, where they have picked up fewer than half of their points this season, a fact Emery was quick to pick up on after the match. “Our challenge is away — to be as consistent as we are at home,” the Spaniard told reporters. “I can feel the difference in the atmosphere from last season. Now we can maybe go to the Champions League,” Lacazette told Sky Sports after a convincing win over the Magpies. Newcastle had not beaten Arsenal since November 2010 and not won away since December and they appeared to set themselves up for a draw at best in North London, with five men in the back line and another four in front of them for most of the game. The tactics worked until a sweeping Arsenal move in which Welsh midfielder Ramsey found Lacazette and then raced forward into the area to meet the return pass with a sweetly timed left-foot shot that went into the net off the far post.last_img read more