Bloomberg In late January, staff of Cathay Pacific Airways Ltd were invited to an online meeting with senior management. It was supposed to be a debrief on the airline’s financial performance, but when the floor was opened to questions, the first was whether Hong Kong’s flag carrier would be taken over by its state-owned shareholder Air China Ltd. Clearly ...

Bloomberg Airlines are seeing prospects for a strong profit rebound from two years of coronavirus turmoil rapidly slip away after the price of oil reached $125 a barrel. An oil shock triggered by Russia’s war in Ukraine is the latest blow to carriers that have already had to cancel flights and reroute long-haul journeys to avoid shuttered airspace. The price ...

  Bloomberg Kenya Airways Plc said Russia’s invasion of Ukraine will result in airlines increasing ticket prices after crude oil surged, while uncertainty may reduce demand for travel. “We have started seeing many of the airlines taking action on this to ensure that they are able to keep on flying,” Commercial Director Julius Thairu said in an interview. The war ...

Bloomberg North Korea is undertaking construction work at its main nuclear weapons test site for the first time in about four years, according to an analysis of satellite imagery, raising fresh security concerns as South Korea elects a new leader. Images captured show “very early signs” of activity at the mountainous area of Punggye-ri, including the construction of a new ...

  Bloomberg The European Union is set to propose a new round of sanctions that would target a total of 14 individuals, including a number of wealthy Russians and their family members, but will stop short of more far-reaching steps like penalizing ports, according to several diplomats. The latest round of sanctions for Russia’s invasion of Ukraine would also target ...

  Bloomberg China accused the US military of operating “dangerous” biolabs in Ukraine, echoing a Russian conspiracy theory that Western officials warned could be part of an effort to retroactively justify President Vladimir Putin’s invasion. “US biolabs in Ukraine have indeed attracted much attention recently,” Chinese Foreign Ministry spokesman Zhao Lijian said in response to a question from a local ...

Bloomberg UK lawmakers voted in favour of a package of measures to toughen government powers and speed up sanctions against Russian tycoons after Home Secretary Priti Patel accused Vladimir Putin’s allies of hiding “dirty money” in Britain. “We do not want it here,” Patel said as she opened six hours of debate on the measures in the House of Commons. ...

  Bloomberg Vietnam asked China not to violate its exclusive economic zone and continental shelf with military drills, foreign ministry spokesperson Le Thi Thu Hang said in response to reporters’ questions about the Hainan Provincial Customs Administration’s announcement about the exercises. China should not take actions that complicate the South China Sea situation but rather help maintain regional peace, security ...

  Bloomberg China asked its biggest financial firms and other state-owned enterprises to report the extent of their exposure to derivatives contracts following wild swings in nickel and other commodities that embroiled one of the country’s largest banks. At least two Chinese banks held urgent internal meetings about their clients’ exposure on Tuesday, according to people familiar with the matter ...

  Bloomberg China should draft new laws and regulations for the digital yuan to address privacy concerns and clarify how it operates, a senior Chinese state bank official proposed. The new law should clearly define the duty of the central bank to protect users’ privacy and make sure their information is only accessible for the purpose of protecting national security, ...