Business

Cathay working with Airbus on single-pilot system for long-haul

Cathay Pacific is working with Airbus to introduce “reduced crew” long-haul flights with a sole pilot in the cockpit much of the time, industry sources told Reuters. The programme, known within Airbus as Project Connect, aims to certify its A350 jet for single-pilot operations during high-altitude cruise, starting in 2025 on Cathay passenger flights, the […]

Business

Hong Kong grants visa extensions to Cathay pilots

Cathay Pacific Airways said on Thursday non-local pilots based in Hong Kong had been granted work permit extensions, two weeks after it launched a recruitment drive for local pilots and closed bases in Australia and New Zealand. However, the airline said the government had rejected work permit renewals for non-local flight cabin crew based in […]

Business

‘Financial surrealism’: Lebanese opt for beer over banks

Faced with the choice of leaving their savings stuck in the bank or investing them at a huge loss, some Lebanese people are opting to take a punt. For them, it’s the only sensible option in a financial system warped by crisis. Largely locked out of their dollar deposit accounts since late 2019 when the […]

Business

Energy, services boost euro zone inflation in May as expected

A sharp spike in energy prices and more expensive services boosted euro zone consumer inflation in May as expected, data confirmed on Thursday, taking the rate of price growth just above the European Central Banks target. The European Union’s statistics office Eurostat confirmed inflation in the 19 countries sharing the euro rose 0.3% month- on-month […]

Business

Russian lawmakers vote to force U.S. tech giants to open local offices

Russian lawmakers passed legislation on Thursday that would oblige U.S. tech giants to open offices in Russia by January 2022 or face punitive measures, part of a push by Russia to beef up what it calls internet “sovereignty”. Russia has cracked down on U.S. internet companies in recent months and slowed down Twitter’s internet traffic […]