Latest news with #pre-Covid
RTHK
10 hours ago
- Business
- RTHK
Cut rents further to lift catering sector
Cut rents further to lift catering sector Simon Wong says visitors to Hong Kong are spending less. Photo: RTHK A catering sector representative on Saturday said rents will continue to be a challenge despite a recent reduction. Simon Wong, president of the Hong Kong Federation of Restaurants and Related Trades told a Commercial Radio programme that even though the SAR has been welcoming more tourists this year, business performance is worse than the pre-Covid period. This is because spending for each visitor has dropped by 20 percent. Noting that landlords have slashed rents by up to 15 percent on average in the past half-year – and even 30 percent in some districts – Wong expressed the hope that they would go down even further. "If there's so much empty space on the street, the landlords would feel that kind of pressure and they are willing to lower their rent at this moment. And I'm looking forward to more decrease in the rent because still the rents compared to other expenses are quite high," he told reporters. "Our operating expenses is comprised of rent, salaries and also food costs, and rental is one of the major expenses we encounter. So if the rent can go down by at least another 20 or 25 percent, it would help us a lot." Wong also noted that the phenomenon of Hongkongers heading north to spend is "irreversible", but he hopes that the government will expand multiple-entry visas to cover the entire Greater Bay Area, or even other mainland cities to help the catering sector. Meanwhile, Wong said he expects a campaign – which sees more than 3,800 restaurants offering discounts of up to 29 percent to celebrate the 28th anniversary of the SAR's establishment on July 1 –to boost business by up to 15 percent that day.
USA Today
2 days ago
- USA Today
The 'Poop Cruise', explained
More than a decade after it set sail, one of the most infamous pre-Covid cruises is back in the news thanks to a Netflix documentary. Trainwreck: Poop Cruise splashed onto the streaming service this week, featuring passenger footage that takes viewers onto the ill-fated 2013 voyage of the Carnival Triumph. If the entire story has slipped your mind, or you weren't aware of it to begin with, have no fear. We're here to catch you up on the admittedly unsavory affair. No nose plugs required. So, what's up with the 2013 Carnival Triumph 'Poop Cruise'? In February 2013, the Carnival Triumph departed Galveston, Texas with 4,229 passengers and crew members headed on a four-day trip to Cozumel, Mexico and back. On Day 3 of the voyage, as the ship made it's way across the Gulf of Mexico and back to Texas, a fire in the engine room saw the vessel lose power without sufficient back-up. The fire didn't injure anyone, but the consequences were felt immediately. Per Hundreds of miles away in the Gulf of Mexico, what began as a dream voyage to a Mexican paradise had turned into a nightmare. The Carnival Triumph, stranded after an engine fire on February 10, was adrift without power, air conditioning, or functioning toilets. Passengers used blankets to shield themselves from the sun while seeking refuge on the open deck. Food ran scarce as passengers told stories about eating tomato-and-onion sandwiches. OK, but why was it dubbed the 'Poop Cruise' instead of the 'Fire Cruise'? There's no delicate way to put this, so we'll just state it plainly. The malfunctioning toilet and plumbing situation caused sewage to flood areas of the ship and left everyone aboard with only one option to go No. 2: They had to defecate into red biohazard bags. How long did the 'Poop Cruise' last? Before you think, "no way am I using a bag, I'll just hold it," consider the ship was dead in the water for four days — three days longer than the trip was scheduled for. The ship initially planned to get towed to port in Mexico, but the current pushed it much further north. Eventually, making port in Mobile, Alabama became the best option — despite the fact it's terminal hadn't been used by a cruise ship in two years. Multiple tug boats were required to tow the boat back to shore and passengers were finally able to get off. What happened to the passengers after the cruise? Most passengers were loaded onto coach busses for transport to New Orleans or Galveston, where Carnival had arranged further accommodations. Then the company got to work on making things right for their guests. Here's what Carnival formally announced at the time: All guests on the Feb. 7 Carnival Triumph voyage will receive a full refund of the cruise and transportation expenses, a future cruise credit equal to the amount paid for the voyage, reimbursement of all shipboard purchases made during the voyage, with the exception of casino, gift shop and artwork purchases, and further compensation of $500 per person. Carnival has also canceled 14 voyages of the Carnival Triumph through April 13, 2013. Guests on the affected sailings will receive a full refund of their cruise fare, as well as non-refundable transportation costs, pre-paid shore excursions, gratuities, and government fees and taxes. Guests will also receive a 25 percent discount on a future three- to five-day Carnival cruise or a 15 percent discount on a six- to seven-day cruise. Travel agent commissions will be protected. Sadly, this is not where our story ends. What happened to the Carnival Triumph after the 'Poop Cruise'? The vessel remained in Mobile, but was transferred from the cruise terminal to a local shipyard for assessment and repairs. This proved incredibly difficult and, ultimateIy tragic. More, from On April 3, with wind gusts reaching 66 mph, the ship broke its moorings at BAE Systems, where it had been docked for initial repairs. The nearly 900-foot cruise ship then floated uncontrolled across the river toward Mobile where it slammed into a pier and sent two shipyard workers plunging into the river. One of those workers, John R. 'Buster' Johnson, died from the incident. The Triumph then floated across the river and into the side of a marine vessel owned by U.S. Army Corps of Engineers, which was being repaired at Signal Ship Repair. The incident left visible damage to the Triumph's right stern. The trouble didn't end there, because not long after the April 3 incident, a nearby fuel barge explosion forced workers to evacuate the ship. Finally, 82 days after docking in Alabama, the ship sailed to the Bahamas for final repairs so it could be put back into service. Wait, the Poop Cruise boat is still in service!? Oh, you bet it is. The ship has since undergone $200 million in renovations and was renamed the Carnival Sunrise in 2019. It now sails out of Miami.
Time of India
3 days ago
- Automotive
- Time of India
Kolkata Police starts fresh vehicle count at Chingrighata
1 2 Kolkata: The Kolkata Traffic Police has begun a new round of counting of vehicles at Chingrighata following multiple changes in traffic flow towards Sector V from the Kolkata side. At present, the 'traffic tails' reach Metropolitan. Previously, it would reach up to Ambedkar Setu during peak morning hours. Senior officers said the audit will help them assess whether traffic blocks for construction of the underpass, a Bailey bridge, the expansion of the main crossing and upcoming Metro work would affect the traffic flow or not. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata Special focus is being given to ascertain the total number of two-wheelers moving in the area, which is reportedly witnessing a surge in private vehicles following the restrictions put on movement of app-based minibuses. Recently, Kolkata Traffic Police decided not to allow any 16-seater and 26-seater vehicle — usually the app-based minibuses carrying IT employees to the IT sector and back towards Howrah and Behala-Joka — to use the Maa Flyover. With app buses from Behala and Howrah forced to move below the flyover, travel time has increased by at least an hour. On top of that, they are also not being allowed to take the Chingrighata Flyover. This has led several Sector V-New Town-Rajarhat office-goers to opt for their own two-wheelers or four-wheelers or app bikes, leading to a rise in private vehicles in the area. "We might revisit this policy after the counting is completed," said a Lalbazar source. The per-minute traffic volume discharge at the Metropolitan end of Maa Flyover during office hours is now back to the pre-Covid era. "We have 350 plus vehicles per minute now on this stretch after vehicles get over the 8 km stretch in a jiffy," said a traffic police source. The police stated that these app-based minibuses occupy wider space and often tend to cut lanes even when they do not overspeed. "There are three key corners where vehicles take sharper turns on the flyover. These are places where these vehicles often create hurdles for others to negotiate space," stated an officer. The police have already allowed special concessions for these vehicles to take a right turn from under the Chingrighata Flyover towards Sector V instead of Chingrighata Flyover to decongest the flyover.
IOL News
3 days ago
- Business
- IOL News
Construction activity declines in the first quarter due to high rainfall in four provinces
The Afrimat Construction Index for Q1 2025 indicates a 2.6% decline in construction activity, attributed to high interest rates and adverse weather conditions, highlighting the ongoing challenges faced by South Africa's construction sector. Image: Leon Sadiki/Bloomberg Construction industry activity in the first three declined due to high rainfall and no meaningful impact from the marginal drop in the prime overdraft rate since September, according to findings of the first quarter, Afrimat Construction Index (ACI). The ACI is an index of the level of activity within the building and construction sectors, compiled by economist Dr Roelof Botha and commissioned by the mid-tier mining company that produces and supplies construction materials, iron ore, anthracite, phosphate, and industrial minerals, Afrimat. The year-on–year comparison with the first quarter of last year in the ACI showed a decline of 2.6%. Dr Botha said he believes the reading is an accurate reflection of the government's lack of willingness to spend on economic assets. 'Following a sharp drop during the pandemic, the ACI recovered swiftly to within a whisker of its pre-COVID level, but the recovery was then stymied by inadequate fiscal support for infrastructure expansion and the hangover from the state capture era, where the effectiveness of key State-owned enterprises and public sector agencies was eroded. Over two years, these problems have been exacerbated by the South African Reserve Bank's restrictive monetary policy,' said Dr Botha. He said the sector had been hamstrung ever since the high interest rates started to bite into the pockets of prospective home-owners and property developers, as indicated by the decline in the real value of building plans passed by the metros and larger municipalities. These had declined in Gauteng, Western Cape and KwaZulu-Natal (KZN) over three years. He said in an interview interest rates were well above pre-Covid levels, a time when the government was already being criticized for an excessively stringent monetary policy. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ The value of construction activity by the public sector has fallen markedly since 2015, while the value of construction by the private sector has increased on slighltly since them. Image: Afrimat 'Construction is the most labour intensive sector in the economy, and the restrictive monetary policy has not only prevented this sector from recovering from the pandemic but has also contributed to the sector entering a deep recession,' he said. Above-average rainfall in some provinces in the first quarter also severely impacted construction activity. KZN had a noticeable increase over its historical average, Gauteng experienced above-average rainfall, particularly in January, while the North West saw a notable increase compared to its historical average. The high rainfall was a major factor to the decline of some of the indicators in the ACI, with only two indicators showing growth. Employment in construction was up 2.1% year-on-year and hardware retail trade up 0.2% on the same basis. High rainfall in some provinces and a continuing high interest rate contributed to a decline in construction activity in the first quarter on a year-on-year comparison basis. Image: Afrimat Dr Botha said the value of annual construction activity by state-owned enterprises had dropped by 61% since 2015, while the percentage decline for all government departments including municipalities for the same period came to 45%. He said the roadmap for higher and sustained economic growth in South Africa recently published by the World Bank at the request of the government, provided an opportunity to eliminate some of the impediments to a revival of the construction sector, especially in enhancing decision-making in relevant public sector agencies. Afrimat CEO Andries van Heerden said they were happy that their experience stood in contrast to the ACI's findings, in that both the group's cement kilns were running, and market demand was significantly stronger than originally anticipated.
Otago Daily Times
4 days ago
- Business
- Otago Daily Times
Record numbers of people chasing dwindling number of jobs
File photo - NZ job ads fall 2 percent in May on April, according to Seek NZ's employment report - Adverts were down 8 percent on a year ago - the slowest annual decline in more than two years - Applications per job ad rose 2 percent on April to a record high - Monthly salary growth 0.6 percent, annual rate 2.4 percent Record numbers of people are chasing a dwindling number of jobs, while wage rises are barely keeping pace with inflation, according to Seek. The online employment platform's May monthly report showed a fall in the number of jobs advertised, albeit at the slowest rate in more than two years. Seek country manager Rob Clark said the employment market felt like it was bumping along the bottom of the cycle, and while things were not getting better they were also not getting appreciably worse. "The comfort we can take is that we were seeing quite steady declines and now we're seeing a period of some stable results what most people are looking for are some signs of an improvement, but we're not really seeing any signs of that at the moment." Three regions had a rise in job adverts, with Wellington up 2 percent for the year ended May, its first rise in more than two years, Taranaki volumes rose 6 percent, and Southland up 1 percent, which were partly offset by sizeable falls in Auckland, Otago and Manawatū. Most industries recorded fewer adverts, but healthcare and medical, community services, and consulting had solid rises, while consumer facing industries gave up recent gains, and information and technology had a sharp contraction. Clark said the increase in consulting jobs might point to the use of short-term roles to fill specific gaps without having to hire full-time staff. Salaries edged higher in the three months ended May, but on an annual basis the growth slowed to pre-Covid levels of 2.4 percent, just below the rate of inflation. "When we have what is called a candidate-long market - more candidates than opportunities - then we typically see a slowdown in salary growth and that's exactly what we're seeing," Clark said. "Overall we have a market that remains very subdued, but it's not getting any worse, but it's not getting any better at a rapid rate either."
