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- Edition: 1502
Headlines
Contents Singapore unveils plan for airport and port
Singapore Prime Minister Lee Hsien Loong has unveiled a master plan to double capacity at Southeast Asia's busiest airport and move its massive port to make way for a sprawling new waterfront city.
Korean Air to cough up $65m for price-fixing
South Korea's largest flag carrier Korean Air has agreed to pay US$65 million to settle a class-action lawsuit by US passengers over alleged price-fixing.
No plans to privatise Malaysia Airlines
Malaysia's government will not privatise national carrier Malaysian Airlines as efforts to turn its business fortunes around are bearing fruit, Prime Minister Najib Razak was quoted as saying by state media, reported Reuters.
Cathay taps HK native as CEO
Cathay Pacific Airways has appointed a Hong Kong native to helm an airline for the second time in its history, as one of Asia's leading carriers grapples with weaker profits and increased competition, reported Dow Jones Newswires.
UPS pilots warned of low altitude seconds before crash
US government investigators looking into the crash of a UPS cargo plane said the pilots received a low altitude warning barely seven seconds before the sound of impact, according to data recovered from the cockpit voice recorder, reported Reuters.
Hamburg port achieves above-average growth
Throughput at the Port of Hamburg in the first six months of 2013 reached 68.1 million tonnes, up 3.5 percent while container volume totalled 4.5 million TEUs, representing a 2.1 percent increase.
Bahrain's Arcapita sells 3PD to XPO
Bahrain-based investment house Arcapita, which agreed on a restructuring plan earlier this year, has sold North American logistics firm 3PD Holding to XPO Logistics for US$365 million, reported Reuters.
New FedEx 'cold shipping' packaging option
FedEx Corp has expanded its temperature controlled packaging (TCP) portfolio to include a new "cold shipping" packaging option for customers that require a refrigerated environment of 2-8° Celsius up to 96 hours for their shipments.
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