S. Korea urges Japan to address slave labor in UNESCO row

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South African Minister Nene ‘very concerned’ by forex probe

South Africa’s finance minister said he’s worried a probe into foreign currency manipulation may expose risks in the banking system, as government officials prepare to meet the central bank to discuss the investigation.“We are very concerned,” Nhlanhla Nene said in an interview at a me...

Updated : 2015.05.21 20:43

Elbit expands cybersecurity business with $158m deal

Israel’s biggest publicly traded defense company, Elbit Systems Ltd., bought a cybersecurity business three days after its chief executive officer said that industry has become a priority.Elbit agreed to pay Nice Systems Ltd. as much as about $158 million for its cyber solutions and intel...

Updated : 2015.05.21 20:36

S. Korea takes transparent, lawful stance on Lone Star case: regulator

South Korea is taking a transparent and lawful stance on dealing with the ongoing legal dispute with U.S. equity fund Lone Star over its sale of a major commercial bank and other assets here years ago, Seoul's top financial regulator said Thursday.     Lone Star lodged a complaint agai...

Updated : 2015.05.21 18:14

Alibaba founder says fakes 'inevitable' part of economic growth

Alibaba founder Jack Ma said Tuesday counterfeits are an "inevitable part" of economic development, a remark that comes as the Chinese e-commerce giant is facing claims over its alleged role in facilitating sales of fake luxury products.  Kering SA filed a lawsuit against Alibaba in the ...

Updated : 2015.05.19 17:27

Greece warned of cash shortage ahead of deadline: report

ATHENS (AFP) - Prime Minister Alexis Tsipras had warned foreign officials that Athens would not be able to pay the 750 million euros ($845 million) due this month to the International Monetary Fund, Greek newspapers said Sunday.The reports came less than a week after Athens admitted that i...

Updated : 2015.05.17 19:02

Kerry to meet Russia's Putin amid Ukraine, Syria tensions

U.S. Secretary of State John Kerry is in Russia to meet President Vladimir Putin with an eye on easing badly strained relations over conflicts in Ukraine and Syria.Kerry laid a wreath at a World War II memorial in the Black Sea resort city Tuesday before holding talks with Russian Foreign ...

Updated : 2015.05.12 22:51

Verizon agrees to acquire AOL in deal valued at $4.4b

Verizon Communications agreed to buy AOL in a deal valued at $4.4 billion, giving the largest U.S. wireless carrier digital content and Web advertising platforms.Verizon will pay $50 a share, a 17 percent premium over AOL’s stock price on Monday. AOL Chief Executive Officer Tim Armstrong ...

Updated : 2015.05.12 20:23

China cuts rates for 3rd time in 6 months to boost economy

BEIJING (AP) -- China cut interest rates Sunday for the third time in six months to boost sluggish economic growth and announced that it is giving banks more flexibility in setting rates paid to depositors in a new step to make its financial system more market-oriented.The central bank's r...

Updated : 2015.05.10 21:58

Greece, creditors 'very close' to a deal: minister

ATHENS (AFP) -- Greece and its international creditors were "very close" to a loan deal for the cash-strapped country, a Greek junior minister said Sunday, a day ahead of a key meeting in Brussels."After weeks of painful negotiation, if the other side is willing, it will become apparent th...

Updated : 2015.05.10 20:55

[Newsmaker] More work urged amid Greece default worries

WASHINGTON ― Greece was told Saturday to urgently deliver a detailed fiscal and debt plan to official lenders as the IMF-World Bank spring meetings wound up amid escalating worries of a looming defau...

Updated : 2015.04.19 19:07

China cuts reserve ratio requirement as growth slows

BEIJING (AFP) -- China's central bank announced Sunday it would cut the level of funds that commercial banks must hold in reserve by one percentage point, the second such move this year to boost lending.The move, effective Monday, comes days after the world's second largest economy reporte...

Updated : 2015.04.19 19:03

Greek bonds drop most since election as default concern builds

Greece's government bonds had their worst week since the aftermath of Syriza's January election victory as the nation failed to make tangible headway in its efforts to secure funding and avoid a default.The yield on 10-year Greek debt climbed to the highest since December 2012 as the clock...

Updated : 2015.04.18 15:13

[Newsmaker] Clinton to focus on economic security

CHICAGO — Hillary Rodham Clinton’s presidential campaign will center on boosting economic security for the middle class and expanding opportunities for working families, while casting the former sen...

Updated : 2015.04.12 19:46

Seoul firms to run 2nd N.K.-Russia logistics project

A consortium of Seoul firms is expected to run another pilot operation of a key logistics project involving South and North Korea and Russia in late April, a government official said Sunday.  The so-called Rajin-Khasan logistics project is the symbol of trilateral cooperation between the...

Updated : 2015.04.12 14:16

S. Korean agency opens business support center in Beijing

South Korea's government trade agency Wednesday opened a center in Beijing to help small- and medium-sized South Korean companies make inroads into the Chinese market as the two nations are set to sign a bilateral free trade agreement.   After declaring the "substantial conclusion" of th...

Updated : 2015.04.08 13:34