HK Electric customers are set to fork out more for their energy bills next month after the Hong Kong firm announced a 20.4 per cent rise in its fuel surcharge as the ongoing war in the Middle East contributed to volatile oil prices. The energy provider, which mainly serves Hong Kong Island and Lamma Island,…
Operating costs for Hong Kong’s industrial and commercial sectors have jumped by 50 per cent since the start of the United States-Israel war with Iran, according to an oil industry representative, who has said distributors will pass on subsidies to customers. A taxi union leader on Thursday also called on the government to extend its…
In this undated photo, pedestrians walk past MTR Corp signage displayed at Tung Chung station in the Tung Chung district of Hong Kong. (PHOTO / BLOOMBERG) MTR Corp Ltd began marketing its first-ever Hong Kong dollar public bond offering on Tuesday, adding to an uptick of borrowing in the local currency debt market. The Hong…
The cumulative global impact of seven weeks of war in the Middle East will begin to emerge in the coming week, in a second round of business surveys from multiple countries. Whether the twin blows affecting growth and inflation seen in purchasing manager indexes after the first month of the Iran conflict intensified during month…
NEW YORK, – Foreign investors bought fewer two-, five-, and seven-year U.S. Treasury notes at last month’s auction than in February, as conflict raged in the Middle East, data from the U.S. Treasury Department released on Wednesday showed. Foreign buyers purchased $6.024 billion of the latest two-year notes in March, about half the $13.190 billion…
A Hong Kong car owner has lost HK$500,000 (US$63,800) to scammers posing as petrol company staff who exploited surging fuel prices by offering bogus top-up deals for membership cards, police have said. The victim received unsolicited WhatsApp messages from fraudsters claiming to represent a fuel company, according to a post on the force’s CyberDefender Facebook…
BEIJING: Several Chinese airlines, including national carrier Air China, said they will raise their fuel surcharges on domestic flights from Sunday as the war in the Middle East drives up oil prices globally.Air China, China Southern and its subsidiary Xiamen Airlines said in statements that they will increase surcharges on flights of up to 800…
Hong Kong’s property transactions crossed 7,000 for the sixth consecutive month in March – the first time in four years that monthly volumes stayed above this level – amid rising demand, according to estimates compiled by leading real estate agencies. The value of transactions for offices, shops, new and second-hand homes, industrial spaces and car…
The Iran war has laid bare a paradox: Gulf money is helping underwrite America’s effort to win the artificial intelligence race, and now the US has started a conflict that could destabilize those investments. Some estimates have projected $2 trillion in long-term pledges from Middle Eastern nations to the AI boom, money that now looks…
Hong Kong flag carrier Cathay Pacific Airways’ extended suspension of its Middle Eastern flights is likely to have a limited financial impact on its passenger operations as its expanded European services should help offset losses, aviation experts have said. But they warned of broader effects on its cargo business, given the loss of the Middle…