It is not all bad news on the media front, with some organisations benefiting from demand for in-depth coverage of the global financial crisis. London-based Economist Group, which publishes the Economist magazine and owns the Economist Intelligence Unit, reported a strong operating performance for the year to March as readers demanded in-depth business information on the crisis. The group reported a 26 per cent increase in operating profit in the period to GBP56 million (HK$704.97 million), with revenue up 17 per cent to GBP313 million. Global circulation of the Economist grew 6.4 per cent to 1.39 million in the second half of last year, while the online business recorded continued strong growth, with advertising revenue rising 29 per cent and page views 53 per cent. Advertising revenue from continental Europe, the Middle East and Africa rose 39 per cent, while in India, the Economist's circulation soared 37 per cent. Chief executive Andrew Rashbass said the results 'demonstrate once again that great brands delivering real value to readers and advertisers thrive even when the economic cycle turns'. Locally, the Hong Kong Economic Times Group saw profit at its financial news service business and solutions climb 37.8 per cent to HK$51.1 million, with revenue up 11 per cent to HK$193 million. This was despite its core newspaper and magazine publishing business experiencing a 79 per cent tumble in earnings to HK$18 million, with revenue falling 15.9 per cent to HK$585 million. Advertising income fell 20 per cent to HK$479.8 million. HKET said it would identify and invest in lifestyle portals that would add synergy in the long run. CSL joins hands with Octopus CSL, Hong Kong's biggest mobile operator, is linking up in a loyalty programme with Octopus Card, the city's biggest payment system. CSL's one2free customers who join the new oneRewards loyalty programme can register their Octopus card for the Octopus Rewards programme and gain extra Octopus reward points for any one2free purchase or usage fee payment. Every HK$200 spent will convert into one cash point. Users can use the cash points to pay for their purchase at other Octopus Rewards shops, such as Wellcome supermarkets. Their monthly usage fees can automatically be converted into Octopus reward points. CSL chief executive Tarek Robbiati said the new reward programme will strengthen the company's position in the mobile service market: 'We hope the loyalty programme can reduce our churn [customer loss] rate in this competitive market.' The firm has a successful customer loyalty programme for its 1010 brand, which mostly serves corporate executives. The 1010 Club Best programme is linked with Asia Miles, the airline mileage programme, enabling 1010 users to convert their mobile-telephone bill into mileage for free flight tickets.