Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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Syrian revolt simmers outside capital
BEIRUT (AP) _ Syrian rebels have ignited a new front outside the capital, Damascus, in the first significant fighting there since regime forces swept over the suburbs weeks ago. The clashes highlight the shifting nature of Syria's conflict, with rebels lying in wait to rise up when the
World NewsMarch 17, 2012
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Iran cut off from global financial system
30 Iranian banks blocked from most global commerce following European sanctionsBRUSSELS (AP) ― Dozens of Iranian banks were blocked from doing business with much of the world as the West tightens the financial screws on a country it wants to prevent from developing nuclear weapons.The Belgium-based company that facilitates most international bank transfers on Thursday took the unprecedented step of blocking 30 Iranian banks from using its service. The move is likely to hurt Iran’s all-importan
World BusinessMarch 16, 2012
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IMF OKs $36.6b funding for Greece
S&P rates new bonds but holds sovereign rating in selective defaultATHENS (AP) ― The International Monetary Fund on Thursday approved 28 billion euros ($36.56 billion) in funding for crisis-hit Greece over the next four years, while Standard and Poor’s said that the country’s new bonds were still vulnerable to a default.An IMF’s executive board granted the immediate release of 1.65 billion euros ($2.15 billion) of these funds as part of the country’s second bailout, a statement said.Greece will
World BusinessMarch 16, 2012
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Chinese state television targets McDonald's, Carrefour
BEIJING (AP) _ Chinese state television has accused McDonald's and French retrailer Carrefour of selling expired chicken products in separate incidents amid public anxiety in China over food safety.McDonald's Corp. and Carrefour Inc. issued public apologies Friday and said they were investigating th
World NewsMarch 16, 2012
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S&P cracks 1,400 for first time since 2008
The stock market cleared another barrier Thursday in its long recovery from the Great Recession: The Standard & Poor’s 500 index closed above 1,400 for the first time since June 2008.The Dow Jones industrial average, driven higher like the rest of the market by more good economic news, set a four-year high. It climbed 58.66 points to finish at 13,252.76, its highest close since the last day of 2007.It was the seventh gain in a row for the Dow, the longest streak since February 2011.The governmen
World BusinessMarch 16, 2012
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World tallest man finally stops growing, U.S. doctors say
Good news for Turkey's Sultan Kosen, at eight foot three (2.51 meters) the world's tallest living man: he can now say with confidence that he's finally grown up.Nearly two years after gamma ray radiosurgery at the University of Virgina, doctors confirmed that Kosen, 29, has overcome acromegaly, a ra
World NewsMarch 16, 2012
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Ambitious Vatican restoration moves ahead
An ambitious project to clean the statue-topped colonnade that cradles St. Peter’s Square is likely to last at least three more years, the director of the Vatican restoration says. In this March 11, 2001 file photo, statues topping the Bernini colonnade frame St. Peter's Square at the Vatican.
World NewsMarch 16, 2012
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IMF approves $36.56 billion funding for Greece
The International Monetary Fund on Thursday approved 28 billion euros ($36.56 billion) in funding for crisis-hit Greece over the next four years, while Standard and Poor‘s warned that the country’s new bonds remained vulnerable to default despite this month‘s massive debt writedown.The IMF’s executive board granted the immediate release of 1.65 billion euros ($2.15 billion) of these funds as part of the country‘s second bailout, a statement said.Greece will receive a total 172.7 billion euros in
World BusinessMarch 16, 2012
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Iran cut off from global financial system
Dozens of Iranian banks were blocked from doing business with much of the world as the West tightens the financial screws on a country it wants to prevent from developing nuclear weapons.The Belgium-based company that facilitates most international bank transfers on Thursday took the unprecedented step of blocking 30 Iranian banks from using its service. The move is likely to hurt Iran‘s all-important oil industry and make it difficult for citizens to receive money from relatives living abroad.T
World NewsMarch 16, 2012
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IMF approves $36.56 billion funding for Greece
The International Monetary Fund on Thursday approved (euro) 28 billion ($36.56 billion) in funding for crisis-hit Greece over the next four years, while Standard and Poor's warned that the country's new bonds remained vulnerable to default despite this month's massive debt writedown.The IMF's execut
World BusinessMarch 16, 2012
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Co-worker to pay 5 U.S. men millions in lottery suit
Five construction workers who claimed a colleague cheated them out of their share of a multimillion-dollar lottery jackpot have been awarded $4 million each by a New Jersey jury, their lawyer said.A unanimous verdict was reached Wednesday morning by the jury, which heard the lawsuit in state Superio
World NewsMarch 16, 2012
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Saudi Arabia vows to offset oil shortfalls
Saudis say they and other oil suppliers can up exports as markets fret over Iran tensionsKUWAIT CITY (AP) ― Saudi Arabia’s top oil official said Wednesday his country and other oil exporters are ready to offset any shortfalls in supply, as fears of a showdown with Iran over its nuclear program help drive prices higher. The comments from OPEC’s biggest oil producer were followed by a call from a senior American energy official for increased production to relieve what he sees as “tight” markets th
World BusinessMarch 15, 2012
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Eurozone formally OKs new Greece aid
LUXEMBOURG (AP) ― Countries in the 17-nation eurozone on Wednesday formally approved a second bailout for Greece and authorized the release of 39.4 billion euros ($51.44 billion), as they had signaled last week. Jean-Claude Juncker, prime minister of Luxembourg and chairman of meetings of eurozone finance ministers, said the bailout fund ― or European Financial Stability Facility ― will disburse the money in several installments. The decision was a formality, as Greece had already been found to
World BusinessMarch 15, 2012
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Goldman exec hits culture of ‘ripping off’ clients
WASHINGTON (AFP) ― Investment banking titan Goldman Sachs has become a “toxic and destructive” firm focused on milking clients for everything it can, a resigning executive director said Wednesday in the New York Times.Greg Smith said the Wall Street giant, which paid huge penalties for double-dealing with investors in mortgage securities during the financial crisis, had dumped its old culture of honestly helping its customers make money.Today, instead, customers are called “muppets” by top execu
World BusinessMarch 15, 2012
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Fitch warns U.K. may lose ‘AAA’ rating
Fitch Ratings said Britain risks losing its top investment grade because of its limited ability to deal with shocks, days before Chancellor of the Exchequer George Osborne will present his annual budget. Fitch changed the outlook on Britain to “negative” from “stable,” indicating a “slightly greater” than 50 percent chance that the “AAA” rating will be reduced within two years, the company said in a statement in London late Wednesday, citing the weak economic recovery, high debt levels and threa
World BusinessMarch 15, 2012
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Israel, Palestinians trade fire but truce largely holding
JERUSALEM (AFP) ― The Israeli air force and Gaza militants traded sporadic fire on Wednesday night but a fragile truce between the sides that ended four days of violence appeared to be largely holding.Late Wednesday night aircraft struck at farmland near Gaza City and an uninhabited area near the southern town of Khan Yunis, causing no injuries in either case, Palestinian security officials said. The Israeli military said that the raids were in reponse to the firing from the Gaza Strip several h
World NewsMarch 15, 2012
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Newspaper claims to publish private Assad emails
LONDON (AFP) ― A British newspaper on Wednesday published emails it claims were sent by Syrian President Bashar Al-Assad and his wife, allegedly revealing the regime sought advice from Iran on suppressing protests.The Guardian newspaper admits it “is impossible rule out the possibility of fakes” in the cache of over 3,000 emails, which appear also to reveal the lavish lifestyle enjoyed by the leader and his wife, Asma. The newspaper stressed it had made “extensive” efforts to authenticate the em
World NewsMarch 15, 2012
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China’s Bo Xilai ousted from Communist Party
Vice Premier Zhang Dejiang to take over as Chongqing party chiefBEIJING (AP) ― China’s Communist Party replaced one of the country’s most powerful politicians Thursday after weeks of speculation following a trusted aide fleeing to a U.S. consulate, a move that set off a public scandal affecting the country’s looming once-a-decade leadership transition.The move to replace Bo Xilai appears to effectively end the public career of one of China’s most highly ambitious and unusually flamboyant leaders
World NewsMarch 15, 2012
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Obama to Iran: Window of diplomacy shrinking
WASHINGTON (AFP) ― U.S. President Barack Obama on Wednesday warned Iran that the window for diplomacy to solve a nuclear showdown was “shrinking,” stiffening his rhetoric ahead of looming new talks on the issue.Obama sent a public message to Iran as preparations went ahead for a new round of dialogue between global powers and the Islamic Republic, amid rising fears of a military confrontation, possibly triggered by Israel.“In the past, there has been a tendency for Iran in these negotiations to
World NewsMarch 15, 2012
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EU probes five telecoms giants over possible collusion
EU anti-trust chiefs said Wednesday they have asked five European telecoms giants to answer concerns over possible industry collusion.A European Commission spokesman told AFP it had sought answers on “the manner in which standardization for future services in the mobile communications area is taking place.” This followed what the Financial Times said was periodic meetings since 2010 between bosses of Deutsche Telekom, France Telecom, Telefonica, Vodafone and Telecom Italia.Brussels said the mobi
World BusinessMarch 15, 2012