China's air passenger traffic halved in May from a year earlier as the coronavirus pandemic hampered travel in the country although the pace of decline slowed from the previous month, showing the industry is on track for a gradual recovery.
Shares of Cathay Pacific Airways Ltd surged as much as 18.7% on Wednesday, reaching their highest level since Feb. 24, after the carrier announced a HK$39 billion ($5 billion) recapitalisation plan led by the Hong Kong government.
CrossFit Inc founder Greg Glassman stepped down as chief executive on Tuesday, days after he apologized for his tweet on the killing of an unarmed black man as it drew criticism and led to footwear brand Reebok ending its tie up with the fitness regimen.
South Korean shares rose on Wednesday as optimism around a quick economic recovery from the coronavirus lockdown offset concerns over a sharp rise in the country's unemployment rate, while focus remained on the U.S. Federal Reserve's meeting outcome. The Korean won strengthened, and the benchmark bond yield rose.
South Korea's LG Chem Ltd said on Wednesday it has signed a conditional contract with China's Ningbo Shanshan Co Ltd to sell most of its liquid crystal display (LCD) polarizer business for $1.1 billion.
South Korea's LG Chem Ltd said on Wednesday it has signed a conditional contract with China's Shanshan to sell its liquid crystal display (LCD) polarizer business for $1.1 billion.
Cathay Pacific Airways Ltd said it expects to repay the Hong Kong government for HK$19.5 billion ($2.52 billion) of preference shares over a three to five year period.
Ontario has started testing about 8,000 migrant farm workers for COVID-19 in a hard-hit rural region of the province after two young workers died and the coronavirus was found on at least 17 farms, according to the local public health authority.
Guinea on Tuesday signed an agreement with a consortium for the development of its giant Simandou iron ore reserve, another step towards the realisation of a project which it hopes will bring a $15 billion windfall over the 25-year lifespan.
Argentina's state takeover of embattled soy crusher Vicentin is stirring up the country's giant export market of processed soy, the largest in the world, handing the government a strategic toehold in the important sector.
Argentina's state takeover of embattled soy crusher Vicentin is stirring up the country's giant export market of processed soy, the largest in the world, handing the government a strategic toehold in the important sector.
Ivory Coast's Coffee and Cocoa Council (CCC) is introducing reforms aimed at boosting domestic exporters, including by reducing fees they pay when acquiring beans, CCC and industry sources said.
Boeing Co deliveries slowed even further in May from April as the coronavirus pandemic's crushing impact on airlines added to a year of crisis following the grounding of its 737 MAX planes, company data showed on Tuesday.
Saudi Arabia's cabinet on Tuesday approved a new mining law that aims to accelerate foreign investment in the sector as part of efforts to diversify its economy away from hydrocarbons.
Britain's largest union said on Tuesday it would hold a ballot for industrial action later this month over the closure of two coal-fired generation units at Drax Group's Selby power plant in north Yorkshire.
Boeing Co deliveries worsened even further in May compared to April as the coronavirus pandemic's crushing impact on airlines added to a year of crisis following the grounding of its 737 MAX planes, company data showed on Tuesday.
The relief rally in oil may be coming to an end as oil market fundamentals are turning bearish once again and pointing to Brent Crude slipping back to $35 in the short term, Goldman Sachs said on Monday, citing still uncertain demand recovery
South African state airline SA Express escaped liquidation on Tuesday after a judge granted a three-month delay in liquidation proceedings, giving the government more time to clarify its plans for the domestic and regional carrier.
Palestinian Prime Minister Mohammad Shtayyeh on Tuesday said he was unaware that a plane from the United Arab Emirates was to fly to Israel carrying medical aid for the Palestinians.
Reuters
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