22 h. ago Sale of 11 Skies could relieve New World of liabilities in project, UBS says

A potential sale of 11 Skies, a mall located near Hong Kong’s international airport in Chek Lap Kok, could help New World Development (NWD) lighten its debt burden as the developer steps up efforts to divest noncore assets to overcome its worst financial crisis, according to UBS. “Any successful disposal of 11 Skies could be a positive catalyst for NWD,” analysts at the Swiss bank said in a report on Thursday. The project “is embedded with contingent liabilities” of HK$1.8 billion (US$229.3...

Politics

33 h. ago Emirates flight from Dubai diverted after failing to land in Hong Kong

An Emirates flight from Dubai to Hong Kong was unexpectedly rerouted to Taiwan on Monday after multiple unsuccessful attempts to land, reportedly because of bad weather. Flight EK382, operated by Dubai’s flagship carrier, was diverted to Kaohsiung International Airport in Taiwan after it was unable to land in Hong Kong. The crew and passengers stayed overnight in Kaohsiung and flew back to Hong Kong on the Emirates plane – a Boeing 777-31H(ER), registered A6-EPU – on Tuesday. Flight data shows...

Events

49 h. ago Hong Kong airport’s profits take off with 52.3% surge to HK$2.45 billion

Hong Kong International Airport has posted net profit growth of 52.3 per cent to HK$2.45 billion (US$313 million) for the 2024-25 financial year, while it also paid the government a HK$1.3 billion dividend, its first in a decade. Operator the Airport Authority of Hong Kong on Wednesday also reported a 20 per cent growth in revenue to HK$16.4 billion and a first dividend payment since 2014-15, when it started retaining operating surpluses to finance the three-runway system project, but...

Economics

49 h. ago Hong Kong airport to pay first dividend in decade as profits surge 52.3%

Hong Kong International Airport has posted a net profit growth of 52.3 per cent to HK$2.45 billion (US$313 million) for the 2024-25 financial year, while also paying the government a HK$1.3 billion dividend, its first in a decade. The Airport Authority also reported a 20 per cent growth in revenue to HK$16.4 billion. It started retaining operating surpluses in 2014-15 to finance the three-runway system project, but has acknowledged uncertainties remained amid geopolitical tensions. In the...

Economics

4 d. ago China International Capital Projects Over 50% Profit Surge in H1 2025

China International Capital Projects Over 50% Profit Surge in H1 2025  TipRanks

Politics

4 d. ago Teacher, teen arrested at Hong Kong airport in ‘Ice’, ketamine drug cases

A teacher who arrived from Germany and a teenager on a flight from Malaysia have been arrested at Hong Kong airport for allegedly attempting to smuggle drugs worth more than HK$23 million (US$3 million) into the city in two separate cases. The Customs and Excise Department revealed on Sunday that the two suspects had been arrested the previous day. In the first case, customs officers stopped a 58-year-old female passenger who had arrived from Frankfurt for inspection. Officers discovered about...

Events

4 d. ago Hong Kong Covid facility at old airport takes off as youth hostel, culture hub

An unused Covid-19 isolation facility at a prime sea-view site in the heart of Hong Kong will be transformed into a youth hostel and cultural hub, offering 2,900 units at affordable rates and expected to debut in September. The project, renamed “Runway 1331” and located at the former Kai Tak airport, is expected to provide young people with opportunities for entrepreneurship, cultural exchange and talent development. Named after the old airport’s single airstrip, designated Runway 13/31, the...

Politics

8 d. ago Worker dies after beam falls at Hong Kong construction site amid rainstorm

Construction of a vehicular bridge at Hong Kong International Airport was suspended on Thursday after a worker was killed by a falling steel beam. Police said on Thursday that they received a report at 1.58pm that a beam had fallen at the site, hitting two workers. One of them was pronounced dead at the scene while the other, who suffered an injured wrist and shoulder, was taken to North Lantau Hospital for treatment. The force said the accident happened on Shun Wui Road, which is located on the...

Events

2 w. ago Hong Kong woman arrested over 31kg narcotics bust worth HK$12 million

A 28-year-old finance worker has been arrested at Hong Kong International Airport after flying in from Canada, following the detection of narcotics with an estimated street value of HK$12 million (US$1.5 million) in her luggage. The Hong Kong resident, who arrived from Vancouver, was intercepted by police on Saturday, and her carry-on suitcases were examined, according to Inspector Ng Ka-wai from the narcotics bureau. Ng said on Sunday that officers discovered about 15kg (33lbs) of suspected...

Economics

2 w. ago Hong Kong woman arrested in 31kg narcotics bust worth HK$12 million

A 28-year-old finance worker has been arrested at Hong Kong International Airport after flying in from Canada, following the detection of suspected narcotics with an estimated street value of HK$12 million (US$1.5 million) in her luggage. The Hong Kong resident, who arrived from Vancouver, was intercepted by police on Saturday, and her carry-on suitcases were examined, according to Inspector Ng Ka-wai from the narcotics bureau. Ng said on Sunday that officers discovered about 15kg (33lbs) of...

Economics

3 w. ago Cause of driverless bus crash at Hong Kong airport must be found: John Lee

Hong Kong’s leader has pledged to find out the cause of a crash involving a pair of unmanned buses at the city’s airport, as he reassured residents that authorities will closely supervise companies testing driverless technologies. Chief Executive John Lee Ka-chiu on Tuesday also said that autonomous transport systems were becoming a trend globally and that authorities would work hard to ensure they were safe for use in Hong Kong. On Sunday, a pair of driverless buses used to transport staff...

Events

3 w. ago Hong Kong airport suspends driverless bus services after collision

Hong Kong’s airport has suspended the operation of its driverless buses to allow authorities to conduct inspections after two of the vehicles collided in a restricted area. An expert said on Monday that the incident was not only a “wake-up” call for authorities to review the supplier’s technology, but also to step up the use of roadside obstacle detection equipment that could help prevent accidents. An image circulating online shows the aftermath of the collision on Sunday at a taxiway...

Transport

3 w. ago Safety of driverless buses questioned after 2 collide at Hong Kong airport

Hong Kong’s airport has suspended part of its driverless bus operation to carry out an inspection after two unmanned vehicles collided in a restricted area, prompting experts to call for scrutiny over whether current technical solutions meet international standards Some experts said on Monday the incident was not only a “wake-up” call for authorities to review the supplier’s technology but also to step up the use of roadside obstacle detection equipment that could help prevent accidents. An...

Transport

3 w. ago Hong Kong government orders report after 2 driverless buses collide at airport

Hong Kong’s transport authority has ordered airport management to submit a report after two unmanned vehicles collided in a restricted area, prompting experts to call for scrutiny over whether current technical solutions meet international standards. The Transport and Logistics Bureau said on Monday night it had raised concerns with the Airport Authority and demanded it fully investigate the incident, identify the cause and adopt preventive measures to ensure operation were safe. “For any...

Transport