DIRS.INFO The most relevant business & tech news

☆ South Africa's genocide case against Israel has 'global support,' finance minister says
▼ + stars: | 2024-01-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

South Africa's legal case accusing Israel of committing genocide against Palestinians in Gaza has "global support," the country's Finance Minister Enoch Godongwana told CNBC Monday. A two-day hearing last week at the International Court of Justice in the Hague, Netherlands, saw South African lawyers lay out arguments alleging that Israel's bombardment of Gaza that has caused massive casualties was tantamount to genocide. "Supporters of Israel of course, including the U.K., will say our application is nonsense but there is global support for our view that in fact, our case was substantive and we have argued our case." Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan and Malaysia are among the states that have publicly supported South Africa's application, along with the Organization of Islamic Cooperation. The Saudi-based organization consists of 57 member states, 48 of which are Muslim-majority countries.

Persons: Ronald Lamola, Israel, Enoch Godongwana, Godongwana Organizations: International Court of Justice, country's Finance, CNBC, South, United, Economic, Organization of Islamic Cooperation Locations: Africa's, South Africa, Israel, Gaza, The Hague, Netherlands, Hague, Africa, United Nations, Davos, Turkey, Jordan, Brazil, Colombia, Bolivia, Pakistan, Malaysia, Saudi

☆ Israel denies genocide accusations at top UN court, says war in Gaza is self-defense
▼ + stars: | 2024-01-12 | by ( Christian Edwards | ) edition.cnn.com time to read: +11 min

South Africa and Israel are signatories to the 1948 Genocide Convention, meaning they are obliged not to commit genocide and to prevent and punish it. South Africa has asked the court to order Israel to suspend its military campaign in Gaza. In January 2020, the court granted The Gambia’s request for provisional measures to protect the Rohingya people remaining in Myanmar from genocide. A 2022 report by Human Rights Watch found continued abuses against the Rohingya remaining in Myanmar, despite the provisional measures. South Africa cited Israeli Prime Minister Benjamin Netanyahu’s address to Israeli forces on October 28, ahead of the imminent launch of its ground offensive in Gaza.

Persons: Israel, ” Israel, Germany “, Steffen Hebestreit, ”, “, Tal Becker, Becker, Galit Raguan, Omri Sender, Hollandse, Israel ’ Israel, Malcolm Shaw, Michel Porro, Ghazi Hamad, Benjamin Netanyahu’s, ” Netanyahu, Netanyahu, Ronald Lamola, Madonsela, Remko de, Gilad Noam, Christopher Staker, Staker, Nadine Schmidt, Catherine Nicholls Organizations: CNN, Israel, United Nations ’, International Court of Justice, Hamas, ICJ, UN, Holocaust, Human Rights Watch, ”, The Hague, South African, Getty, Criminal Court, ICC Locations: South Africa, Gaza, ”, The Hague, Netherlands, Germany, Africa, Israel, Myanmar, Russia, Ukraine, Lebanese, Remko de Waal, AFP

CNN —South Africa’s former President Jacob Zuma was returned to prison on Friday to comply with a ruling that his release on ill health was unlawful – but was freed after just an hour under a remission process to address overcrowding in jail. In September 2021 the government’s correctional services department said Zuma, then 79, had been released from prison on medical parole due to ill health. The department announced that Zuma had been released from prison in October 2022. But South Africa’s Court of Appeal ruled in November that Zuma should return to prison, saying the decision to release him on medical parole was unlawful. To comply with the ruling, Zuma returned to prison on Friday, but benefited from South African President Cyril Ramaphosa’s policy of granting remission to nonviolent offenders in South Africa, in order to reduce overcrowding in prisons.

Persons: Jacob Zuma, “, Makgothi Thobakgale, Zuma, Cyril Ramaphosa’s, Ronald Lamola, ” Organizations: CNN, Correctional Services, ” Correctional Locations: South Africa, Africa’s

☆ Cathay announces plans to buy 32 new single-aisle Airbus aircraft
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +1 min

Aug 10 (Reuters) - Hong Kong's Cathay Pacific Airways (0293.HK) on Thursday said it intends to purchase up to 32 Airbus A321neo and A320neo aircraft to invest and upgrade its fleet, bringing the carrier's new aircraft deliveries to up to more than 70. "These aircraft feature the latest technological enhancements to provide a quieter, more comfortable, and more fuel-efficient journey for our customers," Cathay Group Chief Executive Officer Ronald Lam said. Cathay on Wednesday flagged that it would be taking delivery of 32 new single-aisle Airbus aircraft by 2029 without revealing whether the aircraft would be bought or leased. The new aircraft will join the fleets of Cathay Pacific by 2029 and is expected to cover destination routes in the Chinese Mainland and elsewhere in Asia, Cathay added. Cathay has already taken delivery of 13 of its initial order for 32 A321neos that it placed in 2017, with the new purchase adding up to another 32 single-aisle Airbus aircraft to the Group's fleet, it said.

Persons: Ronald Lam, Roushni Nair, Nivedita Organizations: Cathay Pacific Airways, HK, Airbus, Cathay Group, Cathay, Wednesday, Cathay Pacific, Thomson Locations: Asia, Bengaluru

☆ Cathay Pacific’s recovery finds its wings
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, July 14 (Reuters Breakingviews) - Cathay Pacific (0293.HK) is regaining its mojo. The return to profitability for the $7 billion airline, which expects earnings of as much as HK$4.5 billion, is well-timed. Dividends owed on the preference shares are due to rise from 3% to 5% in August and would continue to rise to as much as 9%. Buying back the shares, as the company plans to do within the next 12 months, will avoid the higher coupons. But as Cathay aims to return to 100% of pre-pandemic capacity by the end of 2024, confidence is returning to Hong Kong’s skies.

Persons: Ronald Lam, Thomas Shum, Una Galani, Pranav Kiran Organizations: Reuters, Cathay, HK, Hong, Pilots, Twitter, Thomson Locations: HONG KONG, HK, Hong Kong, Chengdu, Hong

☆ Cathay Pacific to hire cabin attendants from mainland China from July
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, June 19 (Reuters) - Cathay Pacific Airways Ltd (0293.HK) said on Monday it would in July launch initiatives to improve Mandarin language and cultural understanding, including hiring cabin staff from mainland China, after three crew were fired over discrimination. The move came weeks after Cathay Pacific fired three flight attendants following passenger accusations of bias against non-English speakers, prompting criticism on Chinese state media. The discrimination incident in May went viral on mainland Chinese social media platforms and prompted a torrent of criticism by Chinese state media and Hong Kong government officials, including leader John Lee. At the time, a passenger on a flight from the southwestern Chinese city of Chengdu to Hong Kong wrote in an online post that flight attendants complained among themselves about passengers in English and Cantonese. They said the flight attendants made fun of others for asking for a carpet instead of a blanket in English.

Persons: Ronald Lam, John Lee, Twinnie Siu, Farah, Gerry Doyle Organizations: Cathay Pacific Airways Ltd, HK, Reuters, Cathay, Cathay Pacific, Thomson Locations: HONG KONG, China, Hong Kong, Chengdu

Hong Kong CNN —Cathay Pacific Airways said Tuesday it had fired three cabin crew members after a passenger complained of discrimination on a flight from mainland China, an incident that angered Hong Kong officials and underscored the pressure on the city’s flag carrier to please Beijing. In a statement late Tuesday announcing the dismissals, Cathay Pacific (CPCAY) CEO Ronald Lam said he would personally lead a task force to improve service and avoid similar incidents in the future. A passenger walking to a Cathay Pacific counter at Hong Kong's international airport in 2018. The airline made headlines this week over an incident of alleged discrimination with a passenger from mainland China. In an editorial, it said there was “a question mark on how far Cathay Pacific can fly if their old problems remain unchanged.”— CNN’s Nectar Gan and Chris Lau contributed to this report.

☆ We expect to reach 70% of passenger flight capacity by the end of the year, Cathay Pacific CEO says
▼ + stars: | 2023-03-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect to reach 70% of passenger flight capacity by the end of the year, Cathay Pacific CEO saysRonald Lam, Cathay Pacific CEO, says the airline is already at 50%.

☆ Cathay's CEO outlines the risks the airline faces as Hong Kong moves out of Covid restrictions
▼ + stars: | 2023-03-15 | by ( Emily Tan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCathay's CEO outlines the risks the airline faces as Hong Kong moves out of Covid restrictionsChief Executive Ronald Lam says the Hong Kong carrier has been "working really, really hard" to increase the supply of flights, especially to popular routes like London, Singapore, and mainland China.

☆ Cathay's CEO wants to turn the airline back to profitability, but faces manpower constraints
▼ + stars: | 2023-03-14 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Cathay Pacific hopes to be profitable again in 2023, but returning to its pre-pandemic capacity remains one of the airline's "biggest risks," its CEO told CNBC. "But I'm hopeful that this year we can turn around the business and be back in profit overall." However, the airline swung to an annual operating profit of HK$3.5 billion last year — the first since 2019, according to Refinitiv data. "We need to have manpower in the air manpower on the ground. We also need the airport workers to be ready to take on flights both in Hong Kong and overseas."

☆ Cathay’s people problem is Hong Kong’s too
▼ + stars: | 2023-03-10 | by ( Thomas Shum | ) www.reuters.com time to read: +3 min

HONG KONG, March 10 (Reuters Breakingviews) - Cathay Pacific (0293.HK) may be a high-flying reminder of the Asian finance hub’s pandemic-induced isolation for longer than anyone wants. It promises a swift reversal on a HK$6.5 billion ($834 million) net loss for 2022 Cathay reported on Wednesday. The company has close to 2,405 pilots, roughly 63% of pre-pandemic numbers, according to a survey conducted in March by the Hong Kong Aircrew Officers Association and seen by Breakingviews. That makes Cathay’s people problem Hong Kong’s too. Cathay Pacific carried 1.03 million passengers in January 2023, up from 24,699 last year.

☆ Cathay Pacific posts wider $834 million loss in 2022, remains upbeat on outlook
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: +1 min

Cathay Pacific Airways is ready to rebuild the airline and Hong Kong's hub status as it emerges from the pandemic, the carrier's chief executive said on Wednesday after it reported a 2022 loss at the low end of forecasts. Cathay shares rose as much as 1.4% to 7.95 Hong Kong dollars after the results were released, reversing morning losses and beating a 2.4% drop in the broader market as investors bet on a turnaround following heavy losses during the pandemic. "We were very encouraged to see a bright light at the end of the tunnel in the second half of 2022, and the positive momentum has continued into 2023," Chief Executive Officer Ronald Lam said in a statement. "After three brutal years of the Covid-19 pandemic, we have finally entered into a new exciting phase, in which we will rebuild Cathay Pacific for Hong Kong." The airline reported an annual loss of HK$6.55 billion ($834.4 million) for the 12 months ended Dec. 31, wider than the previous year's loss but near the bottom of its January forecast for a loss of between HK$6.4 billion and HK$7 billion.

☆ Cathay looks to 'rebuild' after brutal pandemic losses
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

Cathay shares rose as much as 1.4% to HK$7.95 after the results were released, reversing morning losses and beating a 2.4% drop in the broader market (.HSI) as investors bet on a turnaround following heavy losses during the pandemic. "After three brutal years of the COVID-19 pandemic, we have finally entered into a new exciting phase, in which we will rebuild Cathay Pacific for Hong Kong." Cathay said it was operating about one-third of pre-pandemic passenger flight capacity by December and ended the year operating passenger flights to 58 destinations, double the 29 destinations the airline flew to in January 2022. It would operate at about 70% of its prepandemic passenger flight capacity by the end of 2023, with an aim to return to pre-pandemic levels by the end of 2024. It was operating about two-thirds of pre-pandemic cargo flight capacity levels by the end of 2022.

Cathay shares rose as much as 1.4% to HK$7.95 after the results were released, reversing the morning's declines as investors bet on a turnaround following heavy losses during the pandemic. "After three brutal years of the COVID-19 pandemic, we have finally entered into a new exciting phase, in which we will rebuild Cathay Pacific for Hong Kong." [1/5] A Cathay Pacific Airways Airbus A350-900 airplane approaches to land at Changi International Airport in Singapore June 10, 2018. Cathay said it was operating about one-third of pre-pandemic passenger flight capacity by December and ended the year operating passenger flights to 58 destinations, double the 29 destinations the airline flew to in January 2022. It would operate at about 70% of its pre-pandemic passenger flight capacity by the end of 2023, with an aim to return to pre-pandemic levels by the end of 2024.

☆ Cathay Pacific in talks on orders for medium-haul jets, freighters
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

Nov 25 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd (0293.HK) is in talks with aircraft manufacturers about orders for medium-haul aircraft and dedicated freighters, a senior executive said on Friday. Lam said the focus would be on acquiring more medium-haul jets to operate in the Asia-Pacific region as well as dedicated freighters, though he did not provide the numbers or types being considered. The long-serving executive, who will take over as chief executive on Jan. 1, had raised the prospect of jet orders in an interview with Bloomberg last month. Lam told analysts that the passenger outlook was improving but that cargo demand and prices had weakened compared to an "exceptional" performance in 2021. Reporting by Jamie Freed; Editing by Muralikumar Anantharaman and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Cathay Pacific's new chief Lam to spearhead COVID recovery, two-brand plan
▼ + stars: | 2022-11-09 | by ( Jamie Freed | ) www.reuters.com time to read: +3 min

Now that the Asian financial hub has scrapped onerous hotel quarantine rules, the airline is looking to build up passenger numbers. "Cathay has a mountain to climb to replace the staff, particularly pilots, that have left and continue to leave," he said. Lam, 50, joined Cathay in 1996, and was previously its chief customer and commercial officer. The two men took the top jobs in August 2019, after the resignation of then chief executive Rupert Hogg and Paul Loo, chief customer and commercial officer, amid mounting Chinese regulatory scrutiny of employees' involvement in the protests. Cathay's new chief customer and commercial officer is Lavinia Lau, 52, who moves from the role of director of customer travel, into a strong position to become its first female chief executive.

☆ Cathay Pacific appoints long-serving executive Ronald Lam as next CEO
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: 1 min

Nov 9 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd (0293.HK) said on Wednesday that long-serving executive Ronald Lam would take over as chief executive from Jan. 1, with current boss Augustus Tang set to retire, as the pandemic-hit airline rebuilds capacity. Lam, 50, who joined Cathay in 1996, was previously the airline's chief customer and commercial officer and viewed by analysts as the most likely successor to Tang, 64, at an airline where the chief executive's tenure is usually around three years. Reporting by Jamie Freed in Sydney; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Cathay’s outgoing boss can flash half-decent card
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Nov 9 (Reuters Breakingviews) - Cathay Pacific’s (0293.HK) new boss has reason for optimism. The outgoing chief executive can flash a half-decent report card. He navigated the Air China- (601111.SS) and Swire Pacific-backed (0019.HK) company through backlash from Beijing after employees took part in the 2019 Hong Kong protests. The $6 billion airline has seen a modest rebound of travellers since Hong Kong dropped hotel quarantine requirements. Since Tang’s appointment in August 2019, Cathay has logged a negative total return of 16%.

Search resuls for: "Ronald Lam"

18 mentions found