Hong Kong aviation investigators say an engine problem that caused Cathay Pacific to ground its entire fleet of Airbus A350 jets for inspection earlier this month could have escalated into “extensive damage.

A probe by Hong Kong's aviation authority found a ruptured fuel hose caused a mid-flight fire on a Cathay Pacific operated Airbus A350 plane this month. The aircraft was en-route to Zurich with 348 passengers and crew aboard when the fire was discovered,

An engine defect in the Airbus A350 plane that led to the cancellation of dozens of Cathay Pacific flights in early September could have escalated into "extensive damage", according to the results of a Hong Kong probe released Thursday.

The Hong Kong Monetary Authority (HKMA) on Thursday cut its base rate charged via the overnight discount window by 50 basis points to 5.25%, tracking a move by the U.S. Federal Reserve.

Hong Kong’s beleaguered real estate market is set for some relief after the city cut its base interest rate for the first time in four years, mirroring the Federal Reserve’s policy easing.

Hong Kong cut its base rate cut by half a percentage point for the first time in four years, kicking off a cycle that would help businesses and homeowners Hong Kong's de facto central bank cut its base interest rate for the first time in four years in lockstep with the US Federal Reserve,