‘Omicron scare may hit hotel bookings in January-March’

Sentiment among business travellers low, says association

Low sentiment among business travellers on account of the Omicron scare is expected to take a toll on bookings during January-March,the Hotel Association of India said in its outlook for the coming year.

“The sentiment among business travellers is currently low owing to the Omicron scare and that is expected to take a toll on bookings during the Jan-March 2022 quarter,” said M. P. Bezbaruah, secretary general of the Hotel Association of India.

Year of hope

He observed that 2021 has been a year of hope, survival, and subtle recovery for the hotel industry in India.

“Easing up of local restrictions while ensuring an aggressive vaccination drive, coupled with the implementation of strict protocols to ensure safety and hygiene by hotels provided a major relief and boost to confidence amongst the travelling community,” he said.

“The rate per room has also largely returned to pre-COVID levels as far as leisure locations are concerned.

“Hotels across categories in metros continue to maintain average rates and are more likely to return to usual prices by the end of this fiscal,” Mr. Bezbaruah said.

Samsung BioLogics denies report saying Samsung in talks to acquire Biogen

SEOUL (Reuters) – Samsung BioLogics said in a regulatory filing on Thursday that a report saying Samsung Group is in talks to acquire U.S. drugmaker Biogen Inc is not true.

South Korean newspaper Korea Economic Daily reported earlier that Samsung is in talks to buy Biogen, citing investment banking sources.

Angel Line Bunk Beds With Angled Ladders Recalled After Report Of Death

Pennsville, New Jersey – based Longwood Forest Products is recalling about 39,900 bunk beds with angled ladders following the death of a boy due to entrapment, the U.S. Consumer Product Safety Commission said.

The recall involves about 39,900 units of three models of Angel Line Bunk Beds. These include Fremont Twin over Twin Bunk Bed, Creston Twin over twin Bunk Bed, and Brandon Twin over Full Bunk Bed.

The bunk beds were made in Vietnam and sold online at www.amazon.com, www.ojcommerce.com, www.walmart.com and www.wayfair.com from March 2016 through June 2021 for between $180 to $330.

According to the agency, the recall was initiated due to a serious entrapment and strangulation hazards to children. The metal hook fastening the ladder to the top bunk bed frame can move away or detach from the bed frame when the ladder is lifted and create a gap of more than 3.5 inches between the ladder step and bed frame. Children can get entrapped in that gap and strangle to death.

The company received a report of the death of a 2-year-old boy from Columbus, Ohio, who died in May 2018 after he was found unresponsive in a gap in the bunk bed ladder.

Consumers are asked to immediately stop using the recalled bunk beds, and contact Angel Line to receive a free repair kit with reinforcement brackets for the ladder.

China Evergrande says construction resumes at 91.7% of projects

HONG KONG (Reuters) – China Evergrande Group said on Thursday in its Wechat account that 91.7% of its national projects have resumed construction after three months of effort.

Company Chairman Hui Ka Yan vowed in a meeting on Sunday to deliver 39,000 units of properties in December, compared with fewer than 10,000 in each of the previous three months.

Creightons H1 Adj. Operating Profit Declines – Quick Facts

Creightons plc (CRL.L) said its half-year operating profit before exceptional costs declined 13.9% from prior year. The reduction in overall sales together with the increased overhead costs resulted in an operating profit margin before exceptional costs of 8.6% compared to 9.3%. Core sales were up 40.2%, for the period.

For the six months ended 30 September 2021, profit before tax declined to 2.27 million pounds from 2.90 million pounds, last year. Earnings per share was 2.61 pence compared to 3.31 pence. Operating profit before exceptional costs was 2.60 million pounds, compared to 3.01 million pounds.

Revenue from core business excluding hygiene and acquisitions increased to 29.21 million pounds from 20.84 million pounds. Overall Group sales were 30.0 million pounds, down 7.3%.

The Board confirmed that it will be paying an interim dividend of 0.15 pence per ordinary share. This will be paid in February 2022.

Spain's annual inflation jumps to 6.7% at end of 2021, highest since 1989

• The 12-month inflation rate to November was 5.5%, and analysts polled by Reuters had expected the final 2021 reading to come to 5.7%.
• Prices increased 1.3% in December from November, compared with a 0.2% rise in December 2020, INE said.

Spanish consumer prices in December rose 6.7% from the same month last year, the fastest annual pace of inflation since 1989, flash data from the National Statistics Institute (INE) showed on Thursday.

The 12-month inflation rate to November was 5.5%, and analysts polled by Reuters had expected the final 2021 reading to come to 5.7%.

Prices increased 1.3% in December from November, compared with a 0.2% rise in December 2020, INE said.

Electricity fees drove the annual price index to the 32-year high, INE said, adding that prices for food also rose significantly in 2021, after a general decline the previous year.

The inflation rate for 2021 was the highest since a 6.9% increase in 1989, when the country was experiencing a rapid economic expansion after joining the European Community, as the European Union was then called, in 1986.

Spain also registered an annual inflation rate of 6.9% in March 1992.

INE data also showed Spain's EU-harmonized consumer price index rose 6.7% in December on an annual basis, up from 5.5% in November. Analysts polled by Reuters had expected a reading of 5.8%.