[Graphic News] New duty-free shops to create jobs and investments

The Korea Herald > World > World Business

Eurozone economic growth rate unexpectedly doubles

The eurozone economy has finally recouped all the ground lost in the recessions of the past eight years after official figures Friday showed that the 19-country single currency bloc expanded by a quar...

Updated : 2016.04.29 20:24

BoJ surprises as it holds off stimulus, delays inflation target

BoJ surprises as it holds off stimulus, delays inflation targetThe Bank of Japan shocked markets Thursday as it held fire on a fresh round of widely expected stimulus measures, sparking questions abou...

Updated : 2016.04.28 14:48

Saudi to sell less than 5% of Aramco, create $2 trillion fund

RIYADH (AFP) -- Saudi Arabia will sell shares in state oil giant Aramco and set up the world‘s largest wealth fund under a long-term economic reform plan, the deputy crown prince said Monday. Prince Mohammed bin Salman said the plan, dubbed “Saudi Vision 2030”, aimed to end the country...

Updated : 2016.04.25 21:23

Japan's next generation of farmers could be robots

As the average age of farmers globally creeps higher and retirement looms, Japan has a solution: robots and driver-less tractors.The Group-of-Seven agriculture ministers meet in Japan’s northern prefecture of Niigata this weekend for the first time in seven years to discuss how to meet in...

Updated : 2016.04.23 16:58

China property boost to GDP risks fading after debt-fueled rise

China’s expansion may face stronger headwinds this year should the debt-fueled boost from real estate, a key driver of recent economic growth, prove unsustainable.The economy grew 1.1 percent in the first quarter from the prior quarter, the slowest quarter-to-quarter expansion in data sin...

Updated : 2016.04.18 14:11

Oil meeting collapses without freeze

DOHA, Qatar (AP) -- A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output despite threats by Saudi Arabia.Oil prices, which hit a 12-year low in January by dipping ...

Updated : 2016.04.18 14:11

IMF sees $1.3 trillion in 'at-risk' Chinese company debt

The International Monetary Fund said Wednesday that corporate China's balance sheets have deteriorated to the point that some $1.3 trillion in borrowings is at risk of default.It said that the financial health of Chinese companies has declined as profitability has sunk amid slower economic...

Updated : 2016.04.14 14:31

China exports jump 11.5%

BEIJING (AFP) -- China's exports surged 11.5 percent year-on-year in March to $160.8 billion, authorities said Wednesday, in a positive sign for the world’s second-largest economy. Imports fell for the 17th consecutive month, dropping 7.6 percent on-year to $131 billion, Customs said, whi...

Updated : 2016.04.13 14:42

Asian markets track global surge on oil deal hope

HONG KONG (AFP) -- Energy firms led an Asian stock market rally Wednesday as a strong trade report from China and news of a deal between Russia and Saudi Arabia to limit oil output injected traders with much-needed optimism.The renewed confidence also saw the safe-haven yen retreat against...

Updated : 2016.04.13 14:42

Nomura to close Europe business, cut jobs

Nomura Holdings, Japan’s largest brokerage, said it will close certain businesses in Europe and “nationalize” parts of its operations in the Americas.Operations in Asia won’t be affected by the changes, the Tokyo-based securities firm said Tuesday in a statement. The firm will release ...

Updated : 2016.04.13 12:36

World Bank: China’s growth to ease to 6.7% in 2016

MANILA, Philippines (AP) -- China will remain the main driver of growth in Asia this year despite its prolonged slowdown, helped by sustained expansions in other developing countries in the region, the World Bank said Monday.The U.S.-led development bank forecasts that developing East Asia...

Updated : 2016.04.11 14:23

Fed policymakers worried about slow global growth: minutes

Federal Reserve policymakers were broadly worried about the threat of slower global growth to the US economy, the minutes from their March 15-16 meeting showed Wednesday.As they decided against an interest rate hike at that meeting, several also cautioned against an increase in April, sayi...

Updated : 2016.04.07 13:59

New inversion rules will kill Pfizer-Allergan deal

Drugmakers Pfizer Inc. and Allergan Plc are scrambling to determine whether to proceed with their plan to merge and move Pfizer's address _ but not its operations or headquarters _ to lower-tax Ireland. They are taking another look after the U.S. Treasury Department issued new rules to mak...

Updated : 2016.04.06 14:48

Facebook programs computers to describe photos for the blind

MENLO PARK, Calif. (AP) -- Facebook is training its computers to become seeing-eye guides for blind and visually impaired people as they scroll through the pictures posted on the world‘s largest online social network.   The feature rolling out Tuesday on Facebook’s iPhone app interpret...

Updated : 2016.04.05 21:28

'Panama Papers' revelations trigger global probes

Several countries have launched tax evasion probes after a massive leak of confidential documents lifted the lid on the murky offshore financial dealings of a slew of politicians and celebrities.The scandal erupted on Sunday when media groups began revealing the results of a year-long inve...

Updated : 2016.04.05 14:01