Hong Kong’s troubled flagship airline Cathay Pacific on Wednesday posted its first annual loss since the height of the financial crisis as it was hit by “intense competition” and a drop in demand from business travellers. The firm is struggling despite an expansion of international air travel in the region as lower cost carriers, particularly from mainland China, eat into its market share.
Credit Suisse unveiled more cuts to its personnel regiment, its first such development since posting its $2.4 billion loss last month. Its latest cuts are more muted in scale, entailing less than ten jobs in its Asian equities decks.
To Kengo Kuma, architecture is the “art of working with constraints”. So for him, Hong Kong architects have no excuse not to come up with creative and eye-catching designs despite size, cost and time limitations. “How to leverage constraints is the main theme of architectural design,” the 62-year-old celebrated Japanese architect said.