Hong Kong Houseware, Textile Fairs Attract Nearly 46,000 Buyers

Twin Home-Product Fairs Finish Successful Four-Day Runs

Hong Kong, Apr 24, 2014 – (ACN Newswire) – The HKTDC Hong Kong Houseware Fair and the HKTDC Hong Kong International Home Textiles and Furnishings Fair ended their four-day shows at the Hong Kong Convention and Exhibition Centre (HKCEC) yesterday. Together, the two fairs hosted close to 2,300 exhibitors from 36 countries and regions and welcomed nearly 46,000 buyers.

Double-Digit Buyer Growth

Houseware fair buyers came mainly from the Chinese mainland, Taiwan, India, Japan, the United States, South Korea, Australia, the United Kingdom, France, Canada and Germany. Buyer attendance from a number of Asian and emerging markets recorded double-digit growth, including South Korea, Taiwan, the mainland, India, Indonesia and Thailand.

The Hong Kong Trade Development Council (HKTDC) organised 126 buying missions to the two fairs. Among the more than 6,500 global buyers were many quality buyers from emerging markets, including Hungary’s Hungaro Management Ltd, India’s Home Town (Future Retail Ltd), Poland’s FPH Witeks Adam Witek and Russia’s Ourrson Co Ltd.

Small-Order Trend

HKTDC Deputy Executive Director Benjamin Chau noted that sourcing sentiment at the two fairs was positive, with good demand for green and trendy products. Buyers also continued to favour the trend toward “small and frequent orders”. …read more

Source: ACN Newswire


Polls over, states seek relaxation in code of conduct for smooth administration

State administration has to take a slew of policy decisions and expedite project implementation …read more

Source: India – Business Standard


ICAI to issue norms on fraud reporting by auditors

ICAI will also soon come out with a guidance document for its members on detecting and reporting fraud …read more

Source: India – Business Standard


FIPB defers call on HDFC Bank’s plan to raise FII limit

The bank had proposed to increase its FII limit to 67.55% from about 51% at present …read more

Source: India – Business Standard


‘Broad areas of South Asia could see below-normal rains’

A few IMD weather forecasters were also part of the deliberations …read more

Source: India – Business Standard


81 power projects take off in 10 months

The Project Monitoring Group is now looking to facilitate investments in 212 projects worth Rs 10.57 lakh cr …read more

Source: India – Business Standard


Minister Jason Kenney will make an important announcement to help Alberta residents get jobs.

Jason Kenney, Minister of Employment and Social Development, and the Honourable Manmeet Bhullar, Alberta Minister of Human Services, will make an important announcement that will help Alberta residents get jobs. …read more

Source: Government of Canada


Omnicare Reports First-Quarter 2014 Financial Results

Cincinnati, Apr 24, 2014 – (ACN Newswire) – Omnicare, Inc. (NYSE:OCR) reported today financial results for its first-quarter ended March 31, 2014.

First-Quarter Highlights:

– Net sales increase of 7.7% to $1.6 billion
– Adjusted cash earnings per diluted share from continuing operations 8.3% higher to $0.91; GAAP earnings per diluted share of $0.59
– Adjusted EBITDA from continuing operations up 10.4% to $178 million
– Cash flows from continuing operations increase of 61% to $172 million

“We are pleased with our first quarter results from continuing operations with net sales up nearly 8% and adjusted EBITDA from continuing operations marking another double-digit increase,” said John Workman, Omnicare’s Chief Executive Officer. “Our strong first-quarter results demonstrate our sound financial footing and the progress we have made as an organization. It also sets the foundation for our previously announced leadership transition whereupon Nitin Sahney will become our new CEO upon my retirement.”

First-Quarter Results

Financial results from continuing operations for the quarter ended March 31, 2014, as compared with the same prior-year period, were as follows:

– Net sales were $1,571 million versus $1,459 million
– Gross profit was $358 million as compared with $350 million
– GAAP earnings per share was $0.59 versus $0.45
– Adjusted cash …read more

Source: ACN Newswire