Asian airline shares fall as US-Iran conflict disrupts travel
CNA
SYDNEY: Airline shares plunged on Monday (Mar 2), with Hong Kong's Cathay Pacific, Australia's Qantas Airways, Singapore Airlines and Japan Airlines down more than 5 per cent after the US and Isr
SYDNEY: Airline shares plunged on Monday (Mar 2), with Hong Kong's Cathay Pacific, Australia's Qantas Airways, Singapore Airlines and Japan Airlines down more than 5 per cent after the US and Israel launched weekend strikes on Iran, disrupting travel and sending oil prices surging.
Global air travel remained in turmoil as the war in Iran forced the closure of key Middle Eastern hubs, including Dubai and Doha, for a third day, stranding tens of thousands of passengers worldwide.
Oil prices surged 7 per cent to their highest in months as Iran and Israel stepped up attacks in the Middle East, damaging tankers and disrupting shipments from the key producing region.
Shares in Qantas fell 10.4 per cent to the lowest level in 10 months when the market opened in Australia, before paring some losses to trade down about 6 per cent, even though it does not fly to the Middle East and instead relies on a codeshare partnership with Dubai's Emirates.
Trump said the US strikes had "totally demolished" most of Kharg Island and warned that more could follow, adding: "We may hit it a few more times just for fun."
In this first part of a series on electric vehicles in Asia, CNA examines how one of Southeast Asia’s largest untapped copper deposits in Mindanao could boost the Philippines’ role in the global EV supply chain.
BAGHDAD: Israel said the war against Iran was entering its "decisive phase" on Saturday (Mar 14), as explosions rocked cities across the Middle East, with strikes on the US embassy in Baghdad and a major Emirati energy facility.Black smoke rose above Washington's embassy in Iraq, AFP journalists saw, the seco
TOKYO: The United States can provide "reliable" energy supplies to Asia-Pacific, US Interior Secretary Doug Burgum said on Saturday (Mar 14), as the Middle East war cripples the region's oil and gas flow.
The oil will be released in the form of loans that companies will return with extra barrels as a premium, the US Energy Department said.
SHANGHAI: Chinese Foreign Minister Wang Yi told his Afghan counterpart Amir Khan Muttaqi in a phone call that disputes between Afghanistan and Pakistan should be resolved through dialogue and consultation, not
SEOUL/TOKYO: North Korea fired a projectile towards the sea on Saturday (Mar 14), South Korea and Japan said, with Tokyo saying it may have been a ballistic missile, while the US and South Korea conducted military drills.The projectile was fired toward the sea off North Korea's east coast, the South Korean mi
JAKARTA: Indonesia's senior economic minister said on Friday (Mar 13) that the country may impose additional taxes on certain commodities, such as palm oil, if the government needs to reduce the impact on the budget from risin
The United States has deployed its USS Tripoli amphibious assault ship to the Middle East, reports say, as the war with Iran enters its third week.
JAKARTA: Two men on a motorbike threw acid in the face of an Indonesian rights activist, leaving him badly hurt and prompting calls on Friday (Mar 13) for a thorough investigation amid concerns of democratic backsliding in the country.Andrie Yunus, deputy coordinator of the KontraS rights group, sustained se
The Malaysian government is in a strong position to absorb the higher costs due to the various fiscal reforms and consolidation measures implemented over the past three years, said Finance Minister II Amir Hamzah Azizan.
A second arms package, worth around US$14 billion, could be approved for Taiwan after US President Donald Trump visits Beijing later this month.
TEHRAN: Fresh strikes rocked Iran and several Gulf countries on Friday (Mar 13), as Israel and the Islamic Republic unleashed a new wave of attacks in a war that has ignited the Middle East and threatens to torpedo the wor