Most Popular
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Yoon sorry for shortcomings but insists policies were right
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1 in 3 Koreans live alone, family types becoming diverse
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S. Korea ‘strongly’ protests Japan’s claim over Dokdo in diplomatic bluebook
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US 'incredibly concerned' about suspected NK-Iran military ties
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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Korean won weakens amid heightened uncertainty
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Seoul says will cut power to porn festival planned on Han River
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Sewol victims commemorated on tragedy's 10th anniversary
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Chanel, Louis Vuitton see muted growth in Korea
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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
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China insurance mogul said unable to work, reported detained
BEIJING (AP) -- The Chinese insurer that owns New York City's Waldorf Astoria Hotel said Wednesday its chairman has turned over his duties to other executives following a report he was detained by regulators amid accusations of possible financial misconduct.Anbang Insurance Group Ltd. Chairman Wu Xiaohui was "temporarily unable to perform his duties due to personal reasons,'' said a one-sentence statement on the company website. It said Wu had authorized other executives to do his work and gave
June 14, 2017
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Trump sued over business benefits
WASHINGTON (AFP) -- Maryland and Washington sued President Donald Trump Monday, saying he is violating laws by raking in money from foreign governments and businesses at his luxury hotels and office towers.The lawsuit said heavy spending by foreign diplomats and embassies at the Trump International Hotel just a few blocks from the White House, payments made by foreign entities at his Trump Tower and Trump International Tower in New York, and other business operations effectively violate the US C
June 13, 2017
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[Graphic News] China top Asian country in hydropower production
Hydroelectric power is China’s largest renewable energy source and its second overall, trailing only coal. The country is adding more new installed hydropower capacity than the rest of the Asia combined.China has added 331,110 megawatts of hydroelectricity generating capacity, far outpacing other Asian countries like India with 51,975 MW, Japan with 49,905 MW and Vietnam with 16,306 MW.On the other hand, Bangladesh, Nepal, Cambodia and Bhutan are the Asian countries with the least hydroelectric
June 11, 2017
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ECB hints at end to easy money policy
The European Central Bank on Thursday signalled greater confidence in the eurozone economy, as it took what analysts describe as a tentative step towards an exit from its easy-money policy.Policymakers meeting in Estonian capital Tallinn decided to keep the bank's main refinancing rate at 0.0 percent, the marginal lending rate at 0.25 percent, and the deposit rate at -0.4 percent -- meaning lenders have to pay to park cash with the central bank -- a spokesman said.But they also dropped a long-st
June 8, 2017
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Japan’s ultralow jobless rate masks grim reality
TOKYO (AFP) -- Japanese employers are scrambling to find staff, unemployment is at its lowest level in more than two decades and the labor market is tighter than it was during Japan’s booming bubble economy years.This should be great news for the world’s No. 3 economy, but analysts are warning not to pop the champagne quite yet because it is mostly due to a shrinking labor force. And many jobs are temporary and pay very little.Japan tied with Iceland in 2016 for the lowest annual unemployment ra
May 31, 2017
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China says considering tighter controls on yuan currency
SHANGHAI (AFP) - China said Friday it is considering a change to its mechanism for managing its currency to buffer it against market forces, in an apparent step back from liberalisation pledges.The potential new system would introduce a "counter-cyclical factor" to China's current system of allowing the yuan to trade within a government-set band, according to a statement on the website of the Foreign Exchange Trade System, an agency under the People's Bank of China.The statement did not explain
May 26, 2017
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US growth in Q1 revised up to 1.2 pct. but still weak
WASHINGTON (AP) -- The U.S. economy started 2017 out with a whimper, but it wasn't quite as weak as first thought. The government revised up its January-March growth reading to a rate of 1.2 percent -- better than an earlier estimate of 0.7 percent but well below President Donald Trump's ambitious growth targets.The Commerce Department says the gross domestic product, the broadest measure of economic health, is down from 2.1 percent growth in the fourth quarter and marks the weakest result in a
May 26, 2017
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With Macron win confirmed, European market rally hits pause
LONDON (AP) -- When Emmanuel Macron topped the first round of voting in the French presidential election two weeks ago, French stocks soared to near-decade highs. On Monday, the reaction to his victory in the runoff was decidedly subdued: investors had been fully expecting it and seem wary of the difficulties he'll face governing a divided country.In midday trading, the CAC 40 index of leading French shares was down 1 percent at 5,379. Other indexes across Europe were also trading lower, while t
May 8, 2017
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[Graphic News] Tablet market extends slide as consumer habits shift
IDC reported an 8.5 percent drop in global tablet shipments to 36.2 million. This was the 10th straight quarterly decline for tablets.Apple led the market with a 24.6 percent share in the first quarter, despite a 13 percent sales drop. Samsung sales fell 1.1 percent but retained the number two spot at 16.5 percent, data showed. China’s Huawei was the only major vendor to show growth -- reporting a 31.7 percent jump, garnering a 7.4 percent share, after introducing new “detachable” tablets powere
May 8, 2017
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Fitch cuts S. Africa's credit rating to 'junk'
JOHANNESBURG (AFP) -- Ratings agency Fitch said Friday it had cut South Africa's credit rating to junk status, citing the recent political instability prompted by a controversial cabinet reshuffle.The agency downgraded the country's sovereign debt rating from 'BBB-' to 'BB+' but kept the outlook stable.It said the downgrade reflected the view that "recent political events, including a major cabinet reshuffle, will weaken standards of governance and public finances."Already earlier this week, ano
April 7, 2017
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China to create new economic zone outside Beijing
BEIJING -- China will create a new special economic zone outside Beijing similar to those established in Shenzhen and Shanghai, the government said, in a bid to boost flagging growth and reduce the strain on the capital.The Xiongan New Area, located some 100 kilometres (62 miles) southwest of downtown Beijing in Hebei province, will rival south China's Shenzhen Special Economic Zone, established in the 1980s, and Shanghai's Pudong New Area, set up in the 1990s. The move was a "major historic and
April 2, 2017
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Stock markets, pound subdued as UK triggers Brexit request
World stock markets were subdued Wednesday as Britain triggered the start of its exit from the European Union, a formal step that kicks off two years of negotiations that will have wide-ranging consequences for business in the region.Britain's FTSE 100 was faring worst in Europe, dropping 0.4 percent to 7,317. Germany's DAX climbed 0.4 percent to 12,200 and France's CAC 40 added 0.1 percent to 5,050. U.S. stocks were poised to open higher. Dow and S&P 500 futures were flat.British Prime Minister
March 29, 2017
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ECB says 'optimistic' for global deal on bank rules
FRANKFURT (AFP) - Regulators at the European Central Bank said Monday they are "optimistic" that talks on harmonising rules for banks around the world will soon end in a deal.The so-called "Basel III" round of banking talks has stalled in recent months as negotiators battle over questions like how big banks' capital reserves should be and how they should judge risk.Observers feared that Donald Trump's incoming adminstration -- seen as favouring looser regulation of banks and distrustful of multi
March 27, 2017
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European regulators clear Dow Chemical-DuPont merger
BRUSSELS (AFP) -- The EU on Monday approved a $130 billion mega-merger of US agri-chemicals giants Dow Chemical and DuPont, paving the way for major consolidation in a sensitive sector for farmers and the environment.The decision by antitrust regulators was subject to Dupont selling "major parts" of its global pesticide business, said the European Commission, the EU's executive arm."Due to significant commitments on products and the worldwide research and development organisation, the merger of
March 27, 2017
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Fed rate hike is likely after a robust February jobs report
WASHINGTON (AP) -- A second straight month of robust hiring pointed on Friday to a US economy healthy enough for the Federal Reserve to raise interest rates next week and to signal the likelihood of additional rate hikes ahead.US employers added 235,000 jobs in February, average paychecks rose and the unemployment rate dipped to a low 4.7 percent from 4.8 percent, the Labor Department said. February's jobs report was the first to cover a full month under President Donald Trump. During the presid
March 11, 2017
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Lego stacks up 'supernatural' record sales
STOCKHOLM -- Lego on Thursday announced record revenues for 2016, but slow profit growth marked the end of years of boost for the inventor of the famous multi-coloured plastic bricks.Revenues jumped by six percent last year compared to 2015, to 37.9 billion kroner (5 billion euros, $5.2 billion), for a net profit up two percent to 9.4 billion. This is the smallest annual rise since 2007 for both figures. "We have had an almost supernatural growth in recent years. Now we have more sustainable gr
March 9, 2017