FINWIRES · TerminalLIVE
FINWIRES

Cathay Pacific Cuts Fuel Surcharge Amid Easing Middle East Tensions

By

-- Cathay Pacific Airways (HKG:0293) will reduce fuel surcharges on most routes from May 16 after reviewing jet fuel prices amid ongoing Middle East-related volatility, according to a Friday update on the airline's website.

For Hong Kong-issued tickets on long-haul routes covering destinations such as North America, Europe, Australia, the Middle East, and Africa, the fuel surcharge will be lowered to HK$1,362 per sector from HK$1,560.

Fuel surcharges on South Asia routes will decline to HK$633 from HK$725, while levies on other routes will be reduced to HK$339 from HK$389.

Related Articles

Asia

Shenzhen LDROBOT Soars 103% in Hong Kong Trading Debut

Shenzhen LDROBOT's (HKG:1236) shares opened 102.9% above their initial public offering price in a stellar Hong Kong debut on Monday morning.The Chinese robotics company opened at HK$53.50 per share, well above the offer price of HK$26.36.

$HKG:1236
Asia

Concord Healthcare to Issue HK$68 Million Convertible Bonds to CSPC Pharma Unit

Concord Healthcare (HKG:2453) agreed to issue HK$68 million of convertible bonds to a unit of CSPC Pharmaceutical (HKG:1093), according to a Monday Hong Kong bourse filing.The oncology healthcare service provider said Dragon Merit will subscribe to the 2% convertible bonds due in April 2027.The bonds are convertible into as many as 40 million Hong Kong-listed shares at an initial conversion price of HK$1.70 per share, representing a premium of about 14.1% to the stock's last closing price.Net proceeds of about HK$63.1 million will mainly be used to repay loans and supplement working capital.Concord Healthcare said the investment is expected to deepen cooperation with CSPC Pharmaceutical in the oncology healthcare sector.

$HKG:1093$HKG:2453
Asia

Alterity Therapeutics Says Peer-Reviewed Study Validates its Approach to Multiple System Atrophy; Shares Fall 9%

Alterity Therapeutics (ASX:ATH) said findings of a study published in the NeuroImage journal support quantitative susceptibility mapping as an objective imaging biomarker to facilitate the earlier diagnosis of multiple system atrophy (MSA), according to a Monday filing with the Australian bourse.Alterity is advancing its ATH434 lead candidate into a phase three program for multiple system atrophy, a neurodegenerative disease that leads to the failure of the autonomic nervous system and impaired movement.The company said it used quantitative susceptibility mapping in a phase two trial in which ATH434 helped improve diagnostic accuracy and provided "objective evidence of target engagement."The peer-reviewed publication validates the company's approach and "reinforces the role of [quantitative susceptibility mapping] as a biomarker for iron-modulating therapies in MSA," Alterity CEO David Stamler said.The company's shares fell 9% in recent Monday trade.

$ASX:ATH