Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Korea enters full election mode
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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OPEC production rises again to above its output ceiling
VIENNA (AP) -- Production of crude oil across all OPEC countries rose again in July, to above the level the cartel has agreed would be the upper limit _ and above the estimated level of global demand.The cartel said Thursday in a market report that its countries' production rose for a third month in July, by 173,000 daily barrels, to an average of 32.9 million barrels a day.That puts it above the 32.5 million barrels a day that the group had agreed in November would be their limit. The cartel ag
Aug. 10, 2017
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Tensions over North Korea weigh on stocks but boost gold
LONDON (AP) _ Worries over a potential confrontation between the United States and North Korea weighed heavily on global stock markets on Wednesday but helped boost the price of assets, such as gold and the Swiss franc, that are considered safe havens in times of geopolitical peril. KEEPING SCORE: In Europe, France‘s CAC 40 fell 1.6 percent to 5,135 while Germany’s DAX was down 1.3 percent at 12,133. The FTSE 100 index of leading British shares was 0.7 percent lower at 7,489. Wall Street was po
Aug. 9, 2017
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Renault signs 660 mln euro deal with Iran
TEHRAN -- French automaker Renault signed on Monday a long-awaited joint venture deal with Iran worth 660 million euros ($779 million) to build up to 300,000 cars per year.The new deal puts Renault in partnership with Iran's state Industrial Development and Renovation Organisation (IDRO) and private firm Parto Negin Naseh.Renault will hold a 60-percent stake with IDRO and Parto Negin Naseh 20 percent each."The first phase of this accord worth 660 million euros provides for the annual manufactur
Aug. 7, 2017
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In push to get Model 3 to masses, Tesla starts raising cash
PALO ALTO, Calif. -- Tesla is raising $1.5 billion as it ramps up production of the Model 3 sedan, its first mass market electric car.The company said Monday that it planned to offer senior notes due in 2025 and would use the offering's proceeds to further strengthen its balance sheet during rapid scaling of the Model 3.Last week CEO Elon Musk said investors should have "zero concern" about whether Tesla will be able to make 10,000 Model 3s per week by next year. Tesla just delivered the first 3
Aug. 7, 2017
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[Graphic News] Xiaomi ranks world's No.1 wearables vendor
Xiaomi is the world’s largest wearables vendor, exceeding Apple and Fitbit, according to the market researcher Strategy Analytics.Data showed that global wearables shipments rose 8 percent yearly to 21.6 million units in the second quarter.Xiaomi delivered 3.7 million units, with 17.1 percent market share. Right after it was Fitbit, delivering 3.4 million units, with 15.7 percent market share, followed by Apple, with 13 percent market share.
Aug. 6, 2017
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US jobless rate: How much better can it get?
WASHINGTON (AP) _ A drop in the unemployment rate to a 16-year low raises a tantalizing question about the job market: How much better can it get? Earlier this year, economists worried that the low unemployment rate meant businesses would struggle to find workers and that would drag down the pace of hiring. Those fears were heightened by a tiny job gain in March and modest hiring in May. Yet Friday‘s jobs report suggests such concerns are premature. Employers added 209,000 jobs, after a solid
Aug. 5, 2017
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US trade deficit narrowed to $43.6 billion in June
WASHINGTON (AP) _ The U.S. trade deficit narrowed in June as exports hit the highest level in 2 { years. The Commerce Department says the trade gap slid 5.9 percent in June to $43.6 billion. Exports of goods and services rose 1.2 percent to $194.4 billion, the highest amount since December 2014. Services exports reached a record $65.4 billion. Overall imports slipped 0.2 percent to $238 billion. So far this year, the trade deficit is up 10.7 percent to $276.6 billion. A shrinking trade gap ad
Aug. 4, 2017
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US gains 209K jobs, unemployment rate falls to 4.3 pct
WASHINGTON (AP) _ U.S. employers added 209,000 jobs in July, a second straight month of robust gains that underscore the economy‘s vitality as it enters a ninth year of expansion. The Labor Department said Friday that the unemployment rate slipped to 4.3 percent, matching a 16-year low first reached in May. Growth in Americans’ paychecks, however, remains stubbornly slow. Average hourly pay rose by 2.5 percent from a year earlier, the same tepid annual pace as in June. That‘s below the 3.5 per
Aug. 4, 2017
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[Graphic News] Foreign reserves across Asia
China is the world‘s largest holder of foreign exchange reserves. It has over 2 1/2 times more foreign reserves than the second-largest reserve holder, Japan.The Asian giant has $3.483 trillion in foreign exchange reserves, despite a recent drop. China is followed by Japan, with a substantial $1.21 trillion worth of foreign exchange.South Korea and India also have a large pie of the foreign exchange. In South Korea, the foreign exchange reserve is $370 billion, while India holds $361 billion wor
Aug. 2, 2017
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Air France unveils Joon - the 'millenials' airline
PARIS -- Air France on Thursday unveiled a new lower-cost subsidiary called Joon that will specifically target well-travelled millenials.A new medium-haul service will begin operating from Charles de Gaulle airport in Paris later this year, with long-haul flights to follow in summer 2018.The French carrier unveiled details of its new service after resolving a lengthy dispute between the management and pilots over the establishment of the subsidiary. This file photo taken on September 22, 2014 sh
July 20, 2017
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Trian's Peltz seeks a seat on board at Procter & Gamble
NEW YORK -- Activist investor Nelson Peltz is attempting to secure a seat on the board at Procter & Gamble, seeking faster changes at the consumer products company.Peltz's Trian Fund Management LP, which owns about $3.3 billion worth of shares at Procter & Gamble, said Monday that it's interested in helping Procter & Gamble improve its performance, saying that its financial performance over the last 10 years has been disappointing. David Taylor was named CEO of the company two years ago and P&G
July 17, 2017
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EU charges Teva over delaying cheap sleep drug
European Union regulators on Monday filed antitrust charges against Israeli drug-maker Teva for colluding to delay a cheaper generic version of modafinil, a blockbuster sleep drug.The European Commission said in a statement that it had informed Teva of its "preliminary view" that an agreement concluded with rival Cephalon was in breach of EU antitrust rules.Under the agreement, Teva committed not to market a cheaper generic version of modafinil, Cephalon's drug for sleep disorders, the EU said.T
July 17, 2017
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China defends imports of North Korean iron ore
China defended Thursday its purchase of iron ore from North Korea following criticism by US President Donald Trump and said it is "strictly and earnestly'' complying with U.N. sanctions.China stopped importing North Korean coal but total trade has risen, which prompted Trump to complain last week Beijing is failing to use its economic leverage to stop Pyongyang's pursuit of nuclear weapons. Chinese purchases of North Korea iron ore rose 34 percent from a year earlier in the first five months of
July 13, 2017
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Apple to invest $900mn in Danish data plant
STOCKHOLM -- Apple on Monday said it would invest six billion Danish kroner ($920 million, 810 million euros) in a data centre in Denmark, its second in the country to run entirely on clean energy.Ground-breaking at the plant in Aabenraa, which will employ between 50 and 100 people, will start in the final quarter of 2017, with construction due to be completed in early 2019.The facility will help to handle data from iMessages, answers from the voice-activated assistant Siri and song downloads fr
July 10, 2017
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[Graphic News] Car production in Asian countries
In Asia, the biggest motor vehicle production plants are in China, Japan, India and South Korea. China, however, captures a bigger slice of the global market share in auto production than any other Asian country.China produced around 28 million vehicles which captures 30 percent of the global market share in auto production leading all other countries in Asia, according to Organisation Internationale des Constructeurs d’Automobiles.Japan is responsible for the second highest number of vehicles p
July 10, 2017
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Chinese Nobel laureate Liu Xiaobo's health deteriorates
BEIJING (AFP) -- Fears about the health of China's cancer-stricken Nobel laureate Liu Xiaobo rose on Thursday as the hospital treating him said the liver function of the country's most prominent democracy advocate had deteriorated.Friends voiced concerns that Liu, 61, is now near death after it emerged last month that he had been transferred from prison to a hospital due to terminal liver cancer.Liu was sentenced to 11 years in prison in December 2009 for "subversion" after calling for democrati
July 6, 2017
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Japan, EU seal landmark trade deal in challenge to Trump
BRUSSELS (AFP) -- Japanese Prime Minister Shinzo Abe and top EU officials agreed Thursday to the broad outline of a landmark trade deal, presented as a direct challenge to the protectionism championed by US President Donald Trump.The breakthrough capped four years of talks and came on the eve of a G20 meeting in Germany at which Trump is expected to defend his "America First" stance on world trade."Today we agreed in principle on an Economic Partnership Agreement (with Japan), the impact of whic
July 6, 2017
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Airbus announces China order of 140 planes for $22.8 bn
BERLIN (AFP) - Airbus said Wednesday it had won a major order from China of 140 planes for $22.8 billion, during a visit by President Xi Jinping to Berlin.The European aircraft maker said it had sealed the agreement with China Aviation Supplies Holding Company (CAS), which chief executive Tom Enders called "one of the biggest contracts signed in a long time by Airbus".The deal covers 100 A320 single-aisle jets and 40 A350 wide-body aircraft."This underscores the strong demand by Chinese airlines
July 5, 2017
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[Graphic News] 10 years of iPhone
Apple's iPhone celebrates its 10th anniversary this week. Ten years after the iPhone debuted on June 29, 2007, the smartphone that started it all is still going strong. The iPhone has changed the way millions of users connect, communicate and work. From the latest sales, the smartphone has sold well over 1 billion units worldwide.
June 29, 2017
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Yellen: No new financial crisis in 'our lifetimes’
LONDON -- Federal Reserve Chair Janet Yellen relayed her hope that another repeat of the financial crisis will not occur "in our lifetimes."Addressing an audience at the British Academy in London on Tuesday, Yellen said the banking reforms put in place in recent years have made the financial system safer, and that the world should be able to avoid the type of devastating crisis that struck the global economy in 2008. US Fed Chair Janet Yellen speaks during a discussion with Lord Nicholas Stern,
June 28, 2017