In October last year, Singapore’s three-day Formula One (F1) Grand Prix showcased the tremendous economic impact that world-class sporting events can bring to a city. The event attracted more than 300,000 attendees, the second highest in its history. Since Singapore began hosting F1, the races have drawn more than 720,000 international visitors and generated about…
By the time this column appears, the world will feel very different from when my previous column appeared earlier this month. In just days, a conflict that some in Washington seemed to believe would quickly topple Iran’s leadership has instead become a potentially long and uncertain war, with little clarity on how or when it…
Hong Kong travel agencies have suspended all tours to the Middle East this month, including those requiring flight transfers through the region, citing safety concerns amid the ongoing war. The announcement was issued on Monday evening, after renewed Iranian drone strikes targeted Dubai International Airport and other infrastructure in the United Arab Emirates, in retaliation…
South Korea and Japan have led declines in global stock markets amid the oil shock, underscoring how supply disruptions in the Middle East are weighing on growth in economies heavily reliant on fuel imports. The Kospi index in Seoul has slumped 12 per cent since the US-Israel war with Iran broke out on February 28,…
The war in Iran, culminating in the de facto closure of the Strait of Hormuz, has again exposed the world’s energy and maritime sector to acute vulnerabilities. The spike in oil prices and surging freight rates may grab headlines, but beneath these shocks lie fundamental questions about Asia’s – and Hong Kong’s – energy security,…
Demand for some regional holiday destinations among Hong Kong travellers has jumped by as much as 30 per cent ahead of Easter, as locals seek to avoid long-haul trips amid rising airfares and disrupted routes caused by the ongoing war in Iran, according to industry players. Travel agencies said the number of inquiries for trips…
For Hong Kong’s Topaz Family Office, investing in hotels in Japan holds up as a sound decision even as a Middle East war clouds the macroeconomic environment. The wealth manager has made Japan a central plank of its pivot into hospitality and real estate over the past two years, driven by a sharp post-pandemic tourism…
Hong Kong’s physiotherapy sector has urged the government to expand employment opportunities for locally trained professionals, warning that severe funding cuts will lead to a glut of practitioners, with the surplus projected to exceed 2,000 by 2040. In a letter to the authorities, the Hong Kong Physiotherapy Association pointed to hiring freezes and job losses…
Greater Bay Airlines will more than double its fuel surcharge on certain routes starting next week, becoming the last Hong Kong passenger carrier to raise prices amid the ongoing conflict in the Middle East. The airline announced on Friday that it would raise prices due to “surging fuel costs,” with the new surcharges taking effect…
Cathay Pacific Airways will nearly double its fuel surcharges from next Wednesday, following a similar move by another Hong Kong carrier amid rising fuel prices driven by the Iran war. Cathay’s move, announced on Thursday and applicable to tickets issued on or after March 18, came on the same day the higher fuel surcharge rate…