HONG KONG: Cathay Pacific is poised to lose nearly $200 million a month from February, the embattled Hong Kong carrier reported yesterday, as the city’s COVID-19 restrictions have seen cargo flights slashed. 

COLCHESTER, UK: Nestled amid superstores at a retail park, the Colchester Foodbank in eastern England last year gave out a total of 165 tons of food-enough to feed 17,000 people.

WASHINGTON: Capitol Hill has begun to debate whether to ban US lawmakers from trading stocks, but despite some rare bi-partisan unity on the question it is far from settled.

WASHINGTON: Blocks from the White House, an unassuming edifice in downtown Washington that once held offices used by the US Department of Justice is set to be converted into homes for hundreds of people. 

KUWAIT: Kuwait Foreign Petroleum Exploration Company (KUFPEC) unveiled yesterday a significant gas condensate find in offshore Indonesia, hailing the discovery as a step towards the fulfillment of the company’s 2040 strategy. 

WASHINGTON: President Joe Biden on Friday praised Intel’s plans to spend $20 billion on a new US semiconductor facility, hailing the “historic” investment even as a global chip shortage fans the inflation wave weighing on his leadership. 

KUWAIT: The total value of project awards in Kuwait surged to KD 556 million (+265 percent q/q; +279 percent y/y), according to MEED Projects.

PARIS: Airbus has taken the extraordinary step of cancelling a multibillion-dollar order of 50 planes from Qatar Airways, a major customer, in an escalating feud over the airline’s grounding of A350 aircraft. 

WASHINGTON: An exodus of older workers is the “common thread” behind the baffling labor shortages faced by companies in the United States and Britain, the IMF concluded in a report released Wednesday.