Business

Cathay Pacific to gradually increase capacity after crew quarantine rules lifted

Cathay Pacific Airways Ltd (0293.HK) said it would gradually increase flying capacity in the coming months after the Hong Kong government on Friday lifted rules requiring passenger crew to quarantine in a hotel for three days on return to the city. The onerous crew quarantine rules had made rostering difficult and were a major impediment […]

Business

Amgen says Lumakras cuts risk of lung cancer progression by 34%

Amgen Inc’s (AMGN.O) Lumakras pill reduced the risk of disease progression in patients with advanced lung cancer by 34% compared with chemotherapy in a clinical trial, the company said on Sunday. There was no significant difference in overall survival between the two treatments in the confirmatory study required by U.S. regulators as a condition of […]

Business

U.S. railroad unions warn of cargo delays as contract deadline looms

Two unions negotiating contracts for almost 60,000 workers at major U.S. freight railways on Sunday said those employers are halting shipments of some cargo to gain leverage ahead of this week’s deadline to secure labor agreements. Unions and railroads, including Union Pacific (UNP.N), Berkshire Hathaway’s (BRKa.N) BNSF, CSX (CSX.O), and Norfolk Southern (NSC.N), have until […]

Business

EBRD to help fund transition from gas to wind power in Egypt

The European Bank for Reconstruction and Development (EBRD) will help finance the decommissioning of 5GW of inefficient gas-fired power plants in Egypt from 2023 while pledging up to $1 billion for renewables, its regional director said on Sunday. EBRD would raise up to $300 million in sovereign financing for projects including work to stabilise Egypt’s […]

Business

Munich Re says reinsurance rates likely to rise

Munich Re (MUVGn.DE) said reinsurance rates were set to rise across the industry, caused by inflation, higher interest rates and a decline in capital to underpin underwriting activity. In a statement on Sunday, the German group said reinsurance capacity, or the industry’s financial ability to take on risks, was on the decline while demand for […]

Business

Japan must take steps against ‘excessive’ yen moves, deputy chief cabinet secretary says

Japan’s government must take steps as needed to counter excessive declines in the yen, a senior government official said on Sunday, as the currency slides to its weakest level against the dollar in 24 years. The comments from Seiji Kihara, the deputy chief cabinet secretary of Prime Minister Fumio Kishida’s government, are the latest to […]