Recent weakness in the Hong Kong dollar against some regional currencies has made the city more appealing to inbound tourists while lowering the costs of services, economists and industry leaders have said. The Hong Kong dollar, pegged to the US dollar, weakened against a basket of currencies as reflected in the US dollar DXY Index,…
Hong Kong tycoon Dickson Poon is seeking to take his flagship company Dickson Concepts (International) private as he delivered a dire assessment of the city’s ailing retail industry. The businessman, who controls 60.5 per cent of the company, offered HK$7.20 a share in cash to buy the remaining 39.5 per cent stake for a total…
Hong Kong flag carrier Cathay Pacific Airways’ net profit rose 1 per cent to HK$9.9 billion (US$1.3 billion) in 2024, marking its second consecutive year of robust performance driven by stronger cargo and passenger demand, lower fuel prices and higher cost efficiencies. Cathay Group chairman Patrick Healy said on Wednesday that the results were strong…
The global airline industry is expected to reap net profits of US$36.6 billion in 2025, up 16 per cent from an estimated US$31.5 billion this year, despite ongoing cost and supply chain challenges, an international trade body has said, while predicting more affordable airfares. The International Air Transport Association (IATA) said the increase would be…