Cargo aircraft skids off Hong Kong airport runway into sea, 2 dead
Hong Kong (AP): A cargo aircraft skidded off a Hong Kong runway into the sea when landing early Monday, killing two people.
The Boeing 747, flown by Turkey-based ACT Airlines, was landing at Hong Kong International Airport around 3.50 am on arrival from Dubai, United Arab Emirates, authorities said. The airline had leased the aircraft from Emirates, a long-haul carrier based in Dubai.
Four crew members on the plane were rescued and taken to a hospital. Initial reports from police said two people in an airport ground vehicle were killed.
Emirates said the Boeing 747 freighter flying as EK9788 was wet leased and operated by ACT Airlines. In wet leases, the company supplying the plane also provides the crew, maintenance and insurance. Emirates said there was no cargo on board.
Local Hong Kong broadcasters showed the aircraft partially submerged just off the edge of the airport's sea wall. The aircraft's front half and cockpit were visible above water but the tail end appearing to have broken off.
The crash occurred on the north runway of Hong Kong's airport, one of Asia's busiest. That runway remained closed, while the two other runways at the airport continue to operate.
Hong Kong's Civil Aviation Department said in a statement it was following up with the airlines and other parties involved in the crash.
Emirates, the Dubai-based long haul carrier, is known for its passenger flights coming out of Dubai International Airport, the world's busiest for international travel.
However, it also operates a thriving cargo business out of Al Maktoum International Airport at Dubai World Central, the sheikhdom's second airport where it plans a USD 35 billion improvement over the coming decade. The ACT Airlines' flight had taken off from Al Maktoum, known as DWC.
Emirates, owned by a sovereign wealth fund in the city-state, noted in its most-recent annual report that it had added two wet-leased Boeing 747s "to serve surging customer demand." Emirates has some 260 aircraft in its fleet, the majority either Boeing 777s or double-decker Airbus A380s.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
India proposes preferential trade agreement with Mexico to deal with high tariffs
New Delhi (PTI): India has proposed a preferential trade agreement (PTA) with Mexico to help domestic exporters deal with the steep tariffs announced by the South American country, a top government official said on Monday.
Mexico has decided to impose steep import tariffs - ranging from about 5 per cent to as high as 50 per cent on a wide range of goods (about 1,463 tariff lines) from countries that do not have free trade agreements with Mexico, including India, China, South Korea, Thailand and Indonesia.
Commerce Secretary Rajesh Agrawal said that India has engaged with the country on the issue.
"Technical level talks are on...The only fast way forward is to try to get a preferential trade agreement (PTA) because an FTA (free trade agreement) will take a lot of time. So we are trying to see what can be a good way forward," he told reporters here.
While in an FTA two trading partners either significantly reduce or eliminate import duties on maximum number of goods traded between them, in a PTA, duties are cut or removed on a limited number of products.
Trading partners of Mexico cannot file a compliant against the decision on imposing high tariffs as they are WTO (World Trade Organisation) compatible.
The duties are within their bound rates, he said, adding that their primary target was not India.
"We have proposed a PTA because its a WTO-compatible way forward... we can do a PTA and try to get concessions that are required for Indian supply chains and similarly offer them concessions where they have export interests in India," Agrawal said.
ALSO READ: Mexico's Congress approves higher tariffs on goods from India, China and non-FTA nations
Citing support for local production and correction of trade imbalances, Mexico has approved an increase in MFN (most favoured nation) import tariffs (5-50 per cent) with effect from January 1, 2026 on 1,455 tariff lines (or product categories) within the WTO framework, targeting non-FTA partners.
Preliminary estimates suggest that this affects India's around USD 2 billion exports to Mexico particularly -- automobile, two-wheelers, auto parts, textiles, iron and steel, plastics, leather and footwear.
The measure is also aimed at curbing Chinese imports.
India-Mexico merchandise trade totalled USD 8.74 billion in 2024, with exports USD 5.73 billion, imports USD 3.01 billion, and a trade surplus of USD 2.72 billion.
The government has been continuously and comprehensively assessing Mexico's tariff revisions since the issue emerged, engaging stakeholders, safeguarding the interests of Indian exporters, and pursuing constructive dialogue to ensure a stable trade environment benefiting businesses and consumers in both countries.
ALSO READ: Search operation ends in Anjaw truck accident, 20 bodies recovered
Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai has said that Mexico's decision is a matter of concern, particularly for sectors like automobiles and auto components, machinery, electrical and electronics, organic chemicals, pharmaceuticals, textiles, and plastics.
"Such steep duties will erode our competitiveness and risk, disrupting supply chains that have taken years to develop," Sahai said, adding that this development also underlines the little urgency for India and Mexico to fast-track a comprehensive trade agreement.
Domestic auto component manufacturers will face enhanced cost pressures with Mexico hiking duties on Indian imports, according to industry body ACMA.
