Search Results for: Pacific
- Business News
Tenzing Pacific Services predicts market’s ‘positive momentum’ to continue
Tenzing Pacific Services is anticipating positive stock market momentum to carry through to the end of 2024 despite volatility and share performance dispersion. Tenzing Pacific Services, a health, life, and business insurance and investment company, saw June as a mixed bag when it came to growth. This is in large part due to the market’s performance not necessarily correlating with…
- Thailand Hotels
Marriott International report reveals trends amongst affluent Asia Pacific travellers
A recent Marriott International report has outlined key emerging trends amongst high-income travellers in the Asia Pacific. The New Luxe Landscapes Report written by The Luxury Group (a brand which falls under the Marriott International business portfolio) explored how affluent tourists prefer to travel. The data included insights from the wealthiest 10% of people across six markets, Australia, Singapore, South…
- Business News
Rising travel costs hinder Asia-Pacific corporate travel, Visa reports
Rising travel costs and economic uncertainties are impacting business travel across the Asia-Pacific region, according to Visa. Companies are increasingly investing in digitalisation to manage their travel budgets more effectively. Chavi Jafa, Head of Commercial and Money Movement Solutions for Asia-Pacific at Visa, noted that while business travel may increase in the coming years, current high travel costs and economic…
- Thailand News
APEC tourism summit: Thailand to revamp Asia-Pacific tourism
Thailand has unveiled its ambitious plans for the 12th Tourism Ministerial Meeting (TMM12) of the Asia-Pacific Economic Cooperation (APEC) forum, set to take place in the Republic of Peru from June 5 to 9. Deputy Government Spokesperson Radklao Inthawong Suwankiri announced that this crucial summit will focus on acknowledging and endorsing the progress made under the APEC Tourism Working Group…
- Business News
Cathay Pacific delays new routes for full capacity takeoff
Cathay Pacific Airways, Hong Kong’s flag carrier, will refrain from expanding into new routes until it achieves full capacity by early next year. Despite reaching 80% of its pre-pandemic capacity, Chairman Patrick Healy stated that speeding up the timeline “is not the right thing to do.” Healy revealed to the South China Morning Post that the airline has no immediate…
- Thailand News
Mario Kleff bags top honour at the 2024 International Property Awards Asia Pacific
Architect extraordinaire Mario Kleff has done it again! He’s just been celebrated at the 2024 International Property Awards Asia Pacific, walking away with the prestigious accolade for Best Single Residence Thailand. This nod comes thanks to his stellar work on the Majestic Residence Signature Villa, a true gem in Pattaya’s architectural crown. Set against the vibrant backdrop of Bangkok on…
- Thailand News
Cebu Pacific launches direct flights to Don Mueang Airport
Cebu Pacific will soar between Manila’s Ninoy Aquino International Airport (NAIA) Terminal 3 and Don Mueang International Airport (DMK) three times a week, whisking eager travellers away on Tuesdays, Thursdays, and Sundays, starting July 16. This latest addition boosts Cebu Pacific’s Manila-Bangkok flights to a whopping 17 times weekly, making it easier than ever to experience the magic of Thailand.…
- Business News
Travel growth expected in Asia-Pacific despite cooling demands
Online travel agent Booking.com expects the Asia-Pacific region to see growth in bookings as we start to see stability in the global market. The company’s Managing Director for Asia-Pacific, Laura Houldsworth, said the company anticipated the growth might not be as fast as it has been because it’s starting to stabilize at a very high level. Asia was up mid-teens…
- Business News
Hong Kong pet owners among top spenders in Asia-Pacific
The pet industry in Hong Kong is witnessing steady growth, with pet owners investing nearly HK$700,000 (3.2 million baht) on average in their pets’ lifetimes. This positions them as one of the top spenders in the Asia-Pacific region’s pet care sector. According to a survey conducted by OneDegree, a pet insurance company, 526 pet owners in Hong Kong were found…
- Thailand News
Cathay Pacific staff rewarded with record bonus
Hong Kong’s Cathay Pacific Airways announced a windfall for its staff, showering them with a bonus equal to 7.2 weeks’ pay. The airline revealed today a staggering net profit of HK$9.79 billion (approximately 44 billion baht) for last year, alongside plans to bolster its workforce by 20%, hiring an additional 5,000 personnel. Cathay Pacific also delighted shareholders by declaring its…
- Thailand News
Mystery smell forces Cathay Pacific flight U-turn
Cathay Pacific Airways‘ flight CX 633, destined for Penang, Malaysia, found itself making an unexpected U-turn to Hong Kong International Airport due to an unusual smell in the cabin post-takeoff. The Airbus A330 had taken off on its scheduled Sunday morning, January 28, departure at 8.15am, only to encounter this bizarre situation. The Hong Kong flag carrier revealed that the…
- Events
Asia Pacific Outdoor Lodging Association (APOLA) launch at Thailand Tourism Forum 2024
The Asia Pacific Outdoor Lodging Association (APOLA) was founded on the initiative of Robert Hecker, Bill Barnett, and Paul Dean at the PHIST conference in Phuket. The Association was officially launched at the Thailand Tourism Forum in Bangkok on January 15, 2024. The founding members agreed that the trade body would be an advocacy vehicle to guide, promote and structure…
- Business News
Innobic divests Alvogen Malta shares, refocuses on Asia-Pacific pharmaceutical market
In a strategic move to refocus its pharmaceutical sector, Innobic (Asia) Co, the life sciences division of the PTT Plc national oil and gas conglomerate, has entirely divested its shares in Alvogen Malta (Out-licensing) Holding (AMOLH). The shares were acquired by Floki Holding Société à Responsibilité Limitée, a healthcare and pharmaceutical firm based in Luxembourg. The transaction is expected to…
- Thailand News
Hong Kong’s Cathay Pacific flight cancellations spark inquiry
Cathay Pacific Airways finds itself stuck on the runway as the pilots’ union demands a government investigation into the airline’s chaotic flight cancellations. The blame game points directly to severe job cuts made during the peak of the Covid-19 pandemic. Paul Weatherill, Chairman of the Hong Kong Aircrew Officers Association, states that Cathay’s current plight, rooted in the decisions made…
- Business News
LiuGong Machinery’s blueprint: Constructing a new chapter across Asia-Pacific
LiuGong Machinery, a Chinese construction machinery manufacturer, unveiled plans to establish three new factories and three machine assembly facilities in the Asia-Pacific region. The company is still in the process of deciding on the specific countries for these new developments, with Thailand being one of the potential locations. The commencement of these projects is anticipated for the following year, according…
- Business News
Asia-Pacific executives struggle with regenerative business shift: Kearney report
A recent survey by global consultancy Kearney reveals that nearly half of Asia-Pacific-based executives feel their current business transformations are not proving effective. The study, which included 800 C-suite leaders from around the world, shows that while businesses have evolved from focusing on resilience during the Covid-19 pandemic towards a regenerative approach, only 51% are successfully implementing this strategy. The…
- Thailand News
Rare Dumbo octopus flaps into livestream recording in North Pacific expedition (video)
An elusive Dumbo octopus, a rare marine creature with side flippers resembling the ears of the Walt Disney character Dumbo, was accidentally discovered during a livestream by the research vessel EVNautilus in the deep waters of the North Pacific Ocean. The sighting was made at a depth of 2,665 meters by a remotely operated vehicle controlled by the Ocean Exploration…
- Pattaya News
Thailand secures 10th spot in Asia Pacific in 2023 World Talent Ranking
Thailand proudly claims the 10th position in the Asia Pacific region, according to the 2023 World Talent Ranking (WTR) conducted by the International Institute for Management Development (IMD). The latest 2023 WTR report reveals Thailand’s respectable standing at 45th place among the 64 countries assessed. This accomplishment, coupled with a global ranking of 29th in the appeal category, solidifies Thailand’s…
- Business News
Asia-Pacific bond defaults surge amid China’s real estate crisis
Asia-Pacific bond defaults are on the rise, outpacing the global average, amid China’s real estate crisis. A joint study by the Federation of Thai Capital Market Organizations (FETCO) and the Capital Market Development Fund (CMDF) highlighted a concerning uptick in debenture default rates, signalling a potential global crisis. The study revealed that bond defaults occurred at a faster pace in…
- Business News
Cathay Pacific highlights Bangkok’s crucial role in aviation recovery
Southeast Asia, particularly Bangkok, is showing promising signs of growth in terms of flight traffic, according to Cathay Pacific, which has ranked the Thai capital as one of its stronger-performing flight routes. Post-Hong Kong’s reopening, Cathay has reported a steady ascent, keeping pace with global passenger traffic. One of the airline’s senior executives, Dominic Perret, highlighted Thailand as a key…
- Business News
ChatGPT security: Asia-Pacific tops list in account breaches, Group-IB reveals
In a comprehensive study conducted by the international cybersecurity corporation Group-IB, over 100,000 infiltrated ChatGPT accounts have been detected in concealed Internet marketplaces. In the last year, the majority of these ChatGPT credentials were discovered within the Asia-Pacific region, threatening ChatGPT security. Through the close survey of stealer-riddled devices, Group-IB identified upwards of 101,134 technological instruments storing saved ChatGPT credentials.…
- World News
NATO summit prioritises Ukraine support, Indo-Pacific ties, and defence spending
NATO Secretary-General Jens Stoltenberg has discussed key topics for the upcoming alliance summit in Vilnius, Lithuania, during a meeting with top US officials at the White House. Stoltenberg, who will step down as secretary general in September, highlighted NATO’s commitment to support Ukraine and strengthen deterrence on defence at the summit. Stoltenberg also emphasised the importance of sending a strong…
- Business News
Asia-Pacific aviation recovery boosted by China’s early reopening
Asia-Pacific aviation is set for a gradual recovery this year, with the International Air Transport Association (IATA) citing China’s earlier-than-expected reopening as a significant boost for the industry. Philip Goh, IATA’s Vice-President for Asia-Pacific, noted that revenue passenger kilometres (RPK) for the region in April reached 82% of the corresponding period in 2019. Domestic RPK has already surpassed 2019 levels,…
- Business News
Asia-Pacific stocks rise on China stimulus hopes and Wall Street gains
Asian-Pacific stock markets experienced gains on Wednesday, as expectations for economic stimulus from China and Wall Street’s overnight gains boosted investor sentiment. The MSCI’s broadest index of Asia-Pacific shares outside Japan rose by 0.7% in the morning, with China’s benchmark equity index increasing by 0.3% and Hong Kong’s Hang Seng adding 1.2%. This comes after China reportedly requested major banks…
- Business News
Asia-Pacific consumers to boost health and wellness spending post-pandemic
A recent survey reveals that approximately 70% of consumers in the Asia-Pacific region are prepared to increase their expenditure on health and wellness products, as the pandemic has heightened health consciousness. The study called the Asia-Pacific Health Priority Survey, was carried out by US supplement distributor Herbalife and highlighted a particularly strong interest in health improvement in Southeast Asia, specifically…
- World News
Singapore’s private home prices soar to US$1.2 million, topping Asia Pacific cities
The median price of a private home in Singapore reached US$1.2 million in 2022, making it the highest among Asia Pacific cities, according to a report by the Urban Land Institute (ULI) Asia Pacific Centre for Housing. Singapore is also ranked as the most expensive city in the region for renting a private home. The median private home price in…
- World News
South Korea hosts first summit with Pacific islands amid geopolitical rivalry
South Korean President Yoon Suk Yeol is set to initiate the country’s first summit with Pacific island leaders today, as Seoul aims to expand its influence in a region that has become a focal point for intense geopolitical rivalry. President Yoon unveiled his administration’s Indo-Pacific strategy last year, committing to promote a “free, peaceful and prosperous” region based on a…
- World News
Cathay Pacific fires staff amid discrimination row and foreigner worship claims
Cathay Pacific Airways today dismissed three flight attendants following allegations of discrimination against non-English speakers. The incident occurred on flight CX987 from Chengdu to Hong Kong and led to widespread concern, prompting the airline to issue a sincere apology. Cathay Pacific CEO Ronald Lam announced the staff dismissals after an internal investigation and reiterated the company’s zero-tolerance approach to serious violations…
- Business News
Asia-Pacific countries need US$362 billion annually for climate action, says UN
The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) highlighted the urgent need for significant funding to support climate change adaptation and mitigation efforts in the Asia-Pacific region. ESCAP’s Accelerating Climate Action in Asia and the Pacific report reveals that most countries in the area are inadequately prepared for extreme weather events and natural disasters, which…
- World News
Modi in Papua New Guinea for talks amid China’s Pacific growth
Prime Minister Narendra Modi arrived in Papua New Guinea on Sunday for discussions with Pacific island leaders, marking the first visit by an Indian premier as New Delhi aims to counterbalance China’s expanding presence in the region. Modi landed in the capital Port Moresby where he will co-host the Summit of the Forum for India’s Pacific Islands Cooperation on Monday…
