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Hyundai Motor`s 2024 net income up 7.8 pc, aims to sell 4.17 mn units this year Hyundai Motor, South Korea's leading automaker, said on Thursday its net profit for 2024 rose 7.8 per cent from a year earlier owing to an increase in the global demand for eco-friendly vehicles.  Net profit came to 13.22 trillion won ($9.2 billion) on a consolidated basis last year, compared with 12.27 trillion won in 2023, the company said in a regulatory filing. Operating income for the year fell 5.9 per cent on-year to 14.23 trillion won, while annual sales increased 7.7 pe...
Hyundai Motor`s 2024 net income up 7.8 pc, aims to sell 4.17 mn units this year
Hyundai Motor`s 2024 net income up 7.8 pc, aims to sell 4.17 mn units this year
Source: IANS
2025-01-23 02:19:24 pm
SK hynix reports record Q4 earnings on rising demand for AI chips  South Korean chipmaking giant SK hynix said on Thursday its fourth-quarter earnings hit a record high on rising demand for artificial intelligence (AI) chips, including high bandwidth memory (HBM), sharply beating market expectations.  Its 2024 revenues and operating profits also broke previous records, the company said. The world's second-largest memory chipmaker said in a regulatory filing that its fourth-quarter net income reached 8 trillion won ($5.6 billion), shiftin...
SK hynix reports record Q4 earnings on rising demand for AI chips
SK hynix reports record Q4 earnings on rising demand for AI chips
Source: IANS
2025-01-23 10:46:47 am
South Korean economy logs weaker-than-expected growth in 2024 The South Korean economy posted weaker-than-expected growth last year amid slowing export growth, sagging domestic demand and a political crisis, central bank data showed on Thursday.  The economic expansion in the fourth quarter also came far below the earlier forecast by the Bank of Korea (BOK) as political turmoil sparked by President Yoon Suk Yeol's shocking martial law declaration dented private spending and investment, according to the central bank. The country's real...
South Korean economy logs weaker-than-expected growth in 2024
South Korean economy logs weaker-than-expected growth in 2024
Source: IANS
2025-01-23 10:21:36 am
Samsung launches new Galaxy S25 series with advanced AI Heralding a new AI era, Samsung on Wednesday unveiled its latest Galaxy S series smartphones, featuring more advanced on-device artificial intelligence (AI) with multimodal capabilities and personalised assistance functions.  Three models of the Galaxy S25 – the Galaxy S25, Galaxy S25 Plus and Galaxy S25 Ultra -- were showcased during the Unpacked event at the SAP Center here. Roh Tae-moon, head of the mobile business division at Samsung Electronics, highlighted the new serie...
Samsung launches new Galaxy S25 series with advanced AI
Samsung launches new Galaxy S25 series with advanced AI
Source: IANS
2025-01-23 09:56:29 am
Asia shares helped by China uplift, Donald Trump`s tariff plans hang in the air Asia shares rose on Thursday, helped by a jump in their Chinese counterparts on Beijing's latest measures to shore up its crumbling stock market, while elsewhere, investors continued to have their eyes on U.S. President Donald Trump's policy plans. China on Thursday announced a plan to guide hundreds of billions of yuan of new capital from state-owned insurers into stocks each year, in a sign of Beijing's concern about sagging Chinese stocks, which surged on the back of the ann...
Asia shares helped by China uplift, Donald Trump`s tariff plans hang in the air
Asia shares helped by China uplift, Donald Trump`s tariff plans hang in the air
Source: Reuters
2025-01-23 08:55:58 am
WEF: 5 new Indian industrial clusters commit to economic growth, jobs creation Five industrial clusters from India, which includes the Mundra cluster in Gujarat, have joined the World Economic Forum’s (WEF) ‘Transitioning Industrial Clusters’ initiative, among 13 new members, to accelerate the deployment of clean-energy infrastructure at scale worldwide, it was announced here on Wednesday.  The new industrial clusters are from India, Australia, Brazil, Colombia, the Netherlands, Saudi Arabia, Sweden, Thailand and the UK, according to a WEF repo...
WEF: 5 new Indian industrial clusters commit to economic growth, jobs creation
WEF: 5 new Indian industrial clusters commit to economic growth, jobs creation
Source: IANS
2025-01-22 05:18:30 pm
New Zealand's annual inflation sees slower increase at 2.2 per cent  New Zealand's Consumers Price Index (CPI) increased 2.2 percent year-on-year in the fourth quarter of 2024, following a 2.2 per cent annual increase in the third quarter of 2024, both being slower increases, according to the statistics department Stats NZ on Wednesday.  "Prices are still rising, but not as much as previously recorded," Stats NZ prices and deflators spokesperson Nicola Growden said, adding the most recent peak was in the second quarter of 2022 when ...
New Zealand's annual inflation sees slower increase at 2.2 per cent
New Zealand's annual inflation sees slower increase at 2.2 per cent
Source: IANS
2025-01-22 04:49:27 pm
Views on Donald Trump`s Push to End Birthright Citizenship: Real Estate Impact?`` by Rishi Tiwari, Square Yards Below the Views on Donald Trump`s Push to End Birthright Citizenship: Real Estate Impact?`` by Rishi Tiwari, Square Yards   “The shift in US birthright citizenship policy, where children of immigrants may no longer automatically gain citizenship, could prompt many to rethink their future plans. Some might consider returning to India or investing in NRI properties as a long-term strategy. The model of earning abroad but eventually returning and settling in India might resona...
Views on Donald Trump`s Push to End Birthright Citizenship: Real Estate Impact?`` by Rishi Tiwari, Square Yards
Views on Donald Trump`s Push to End Birthright Citizenship: Real Estate Impact?`` by Rishi Tiwari, Square Yards
Source: Square Yards
2025-01-22 03:54:16 pm
Views on Donald Trump`s Push to End Birthright Citizenship: Real Estate Impact?`` by Ravi Shankar Singh, Colliers India Below the Views on Donald Trump`s Push to End Birthright Citizenship: Real Estate Impact?`` by Ravi Shankar Singh, Colliers India   The recent statements on birthright citizenship by USA's newly elected president, Donald Trump, have created apprehension amongst resident Indians in the country. A big question that has arisen pertains to investing and owning property. There is no need for worry, given that buying and selling of real estate in the US does not require one to be a c...
Views on Donald Trump`s Push to End Birthright Citizenship: Real Estate Impact?`` by Ravi Shankar Singh, Colliers India
Views on Donald Trump`s Push to End Birthright Citizenship: Real Estate Impact?`` by Ravi Shankar Singh, Colliers India
Source: Colliers India
2025-01-22 03:48:19 pm
AI boom to help tackle industrial challenges, low births: South Korea South Korea’s Industry Minister Ahn Duk-geun on Wednesday said artificial intelligence (AI) presents the country with an opportunity to address lingering challenges, including low birth rates, noting the government will roll out a set of projects to foster the segment.  Ahn remarked during a meeting with AI experts in Seoul, where government and industry officials discussed the country's policies aimed at cultivating the AI sector, according to the Ministry of Trade, Industr...
AI boom to help tackle industrial challenges, low births: South Korea
AI boom to help tackle industrial challenges, low births: South Korea
Source: Accord Fintech
2025-01-22 10:51:26 am
Daemyung Sono Group moves to acquire T'way Air Daemyung Sono Group, a leading condominium and resort company in South Korea, said on Wednesday it is seeking to acquire management control of low-cost carrier (LCC) T'way Air to improve the airline's operations and financial health.  Sono International, the holding company of Daemyung Sono Group, said it is ramping up its engagement with T'way Air, demanding management improvements and requesting access to the register of shareholders, reports Yonhap news agency. The g...
Daemyung Sono Group moves to acquire T'way Air
Daemyung Sono Group moves to acquire T'way Air
Source: IANS
2025-01-22 10:15:21 am
World at a critical inflection point, 2025 a year of enormous consequence: WEF President The world is at a critical inflection point and 2025 will be a year of enormous consequence, Borge Brende, President and CEO, World Economic Forum (WEF), has said, highlighting the need for new pathways to greater cooperation in an era of heightened geopolitical uncertainty.  Speaking at what he described as “one of the most uncertain geopolitical and geoeconomic moments in generations," Brende told a gathering of global leaders that the longstanding international order tha...
World at a critical inflection point, 2025 a year of enormous consequence: WEF President
World at a critical inflection point, 2025 a year of enormous consequence: WEF President
Source: IANS
2025-01-22 10:12:29 am
South Korean battery firms make record investments amid EV slowdown South Korea's three major battery makers likely made all-time-high investments in research and development (R&D) activities last year despite a slowdown in electric vehicle sales, industry sources said on Wednesday.  LG Energy Solution Ltd. (LGES), Samsung SDI Co. and SK On are estimated to have invested more than 2.5 trillion won (US$1.7 billion) in R&D projects in 2024, up from 2.47 trillion won a year earlier, according to the sources. LGES, the country's lea...
South Korean battery firms make record investments amid EV slowdown
South Korean battery firms make record investments amid EV slowdown
Source: IANS
2025-01-22 10:03:16 am
Standard Chartered introduces SC PrismFX Standard Chartered today announced the launch of SC PrismFX, its cross-currency Transactional foreign exchange (FX) solutions suite. SC PrismFX is available for Financial Institution (FI), Non-Banking Financial Institution (NBFI), PayTech, and Corporate clients globally. SC PrismFX integrates Standard Chartered’s suite of digital, integrated Transaction Banking, Financial Markets, and Digital Platforms capabilities under one brand name to deliver robust FX payment services to it...
Standard Chartered introduces SC PrismFX
Standard Chartered introduces SC PrismFX
Source: PR Agency
2025-01-22 09:30:44 am
WEF 2025: European Commission chief Ursula says top team to visit India to boost ties European Commission President Ursula von der Leyen said on Tuesday that the first trip of her new team will be to India to boost ties with the world’s largest democracy which has succeeded in lifting millions of people out of poverty.  "Together with Prime Minister (Narendra) Modi we want to upgrade the strategic partnership with the largest country and democracy in the world," von der Leyen told the Davos World Economic Forum. “As supply chains went global, h...
WEF 2025: European Commission chief Ursula says top team to visit India to boost ties
WEF 2025: European Commission chief Ursula says top team to visit India to boost ties
Source: IANS
2025-01-22 09:09:06 am
Resilience is key to thriving in today`s volatile world: WEF CEO As global volatility and compounding risks intensify, organisations must continuously adapt to complex macroeconomic and geopolitical dynamics, World Economic Forum (WEF) president and CEO, Borge Brende, said on Tuesday.  The 55th WEF Annual Meeting kicked off with the theme "Collaboration for the Intelligent Age", at Davos in the Swiss Alps. Mentioning ‘The Resilience Pulse Check: Harnessing Collaboration’ report by the WEF and McKinsey & Company, Brende ...
Resilience is key to thriving in today`s volatile world: WEF CEO
Resilience is key to thriving in today`s volatile world: WEF CEO
Source: IANS
2025-01-22 09:00:43 am
Stocks bask in Trump glow, tariff uncertainty weighs on dollar  Global stocks gained on Wednesday as a flurry of new policies from U.S. President Donald Trump combined with robust corporate earnings to bolster investor optimism, while tariff uncertainty kept the dollar near two-week lows. Netflix shares surged 14% in after-hours trading as the streaming giant added a record number of subscribers last quarter, enabling it to increase prices for most service plans in the United States and other countries. That helped lift Nasdaq futures 0.5% in ...
Stocks bask in Trump glow, tariff uncertainty weighs on dollar
Stocks bask in Trump glow, tariff uncertainty weighs on dollar
Source: Reuters
2025-01-22 08:59:52 am
Assam CM holds meeting with Vice-President of world`s leading semiconductor vendor in Seoul Assam Chief Minister Himanta Biswa Sarma held a discussion with top official of leading semiconductor in the world in Seoul on Tuesday.  Taking to X, CM Sarma wrote, "Began today's engagements in Seoul with a productive meeting with Dr Joon Choi, Vice President of @SKhynix, one of the world's largest semiconductor vendors. I shared my vision of establishing Assam as a global semiconductor hub and emphasised that enabling a corresponding semiconductor ecosystem is one the ...
Assam CM holds meeting with Vice-President of world`s leading semiconductor vendor in Seoul
Assam CM holds meeting with Vice-President of world`s leading semiconductor vendor in Seoul
Source: IANS
2025-01-21 02:53:16 pm
Perspective on Donald Trump taking charge as the US President by Mr Nish Bhatt, Founder & CEO, Millwood Kane International Below the Perspective on Donald Trump taking charge as the US President by Mr Nish Bhatt, Founder & CEO, Millwood Kane International    Donald Trump took charge as the US President, and as promised he signed as many as 80 executive orders, many of them overturning orders of the former government. Global markets were anxiously waiting for this event. But, unlike his election rhetoric, the actual decisions were practical and gradual. There were no announcements of impor...
Perspective on Donald Trump taking charge as the US President by Mr Nish Bhatt, Founder & CEO, Millwood Kane International
Perspective on Donald Trump taking charge as the US President by Mr Nish Bhatt, Founder & CEO, Millwood Kane International
Source: Millwood Kane International
2025-01-21 02:22:51 pm
Global companies likely to be affected by Donald Trump`s promised tariffs U.S. President Trump said he could impose 25% tariffs on Canada and Mexico from Feb. 1, sending shares of several Asian automakers and battery firms lower in trading on Tuesday. Here are companies that may be affected (by sector, in alphabetical order): AUTOMAKERS AUDI Volkswagen's Audi plant in San Jose Chiapa, Mexico, makes the Q5, employing just over 5,000 people. It produced nearly 176,000 cars in 2023, its website showed. In the first half of 2024, nearly 40,000 cars were...
Global companies likely to be affected by Donald Trump`s promised tariffs
Global companies likely to be affected by Donald Trump`s promised tariffs
Source: IANS
2025-01-21 12:48:05 pm
India, Belgium to deepen trade and investment ties: Piyush Goyal  Union Minister for Commerce and Industry Piyush Goyal and Bernard Quintin, Belgian Minister of Foreign Affairs, European Affairs and Foreign Trade, held bilateral talks in Brussels to boost trade and investment ties across the spectrum, it was announced on Tuesday.  The meeting reinforced the longstanding relationship between India and Belgium, built on shared values of democracy, rule of law and independent judiciary, according to a statement by Ministry of Commerce and Industr...
India, Belgium to deepen trade and investment ties: Piyush Goyal
India, Belgium to deepen trade and investment ties: Piyush Goyal
Source: IANS
2025-01-21 10:09:57 am
Seoul shares turn lower amid rising woes over US protectionism South Korean stocks turned lower on Tuesday after new US President Donald Trump ordered his administration to address unfair trade practices globally.  Opening some 1 per cent higher, the benchmark Korea Composite Stock Price Index had lost 9.26 points, or 0.37 percent, to 2,510.79 as of 11:20 a.m, reports Yonhap news agency. After the inauguration ceremony, Trump said he plans to enact tariffs of as much as 25 per cent on Mexico and Canada at the beginning of February. He also ...
Seoul shares turn lower amid rising woes over US protectionism
Seoul shares turn lower amid rising woes over US protectionism
Source: IANS
2025-01-21 09:52:30 am
South Korea's 2025 growth outlook to be slashed to 1.6-1.7 pc The Bank of Korea (BOK) said on Monday its outlook for South Korea's economic growth this year may be lowered to as low as 1.6 percent due to a political crisis sparked by suspended President Yoon Suk Yeol and weak domestic demand.  The BOK had presented 1.9 per cent growth outlook for 2025 in November. The central bank said it has judged that its forecast may need to be "adjusted to 1.6-1.7 per cent as of January." "Political uncertainties sparked by the martial...
South Korea's 2025 growth outlook to be slashed to 1.6-1.7 pc
South Korea's 2025 growth outlook to be slashed to 1.6-1.7 pc
Source: IANS
2025-01-21 09:48:53 am
Shares and Treasuries choppy on Donald Trump`s plans for tariffs  Global shares and U.S. Treasuries were volatile on Tuesday, reversing a brief relief rally from early in the session in the first few hours of Donald Trump's new presidency after he announced plans for trade tariffs on neighbouring countries. U.S. markets were closed for a holiday on Monday, so the first responses to Trump's inauguration were felt during Asian trade on Tuesday. Trump said that his administration is mulling imposing 25% tariffs on Mexico and Canada as soon ...
Shares and Treasuries choppy on Donald Trump`s plans for tariffs
Shares and Treasuries choppy on Donald Trump`s plans for tariffs
Source: Reuters
2025-01-21 08:56:53 am
Assam CM to meet top industry leaders in Seoul today Assam Chief Minister Himanta Biswa Sarma is in Seoul in South Korea and he has a series of meetings on Monday with the top industry players there for the upcoming investment summit in Guwahati -- Advantage Assam 2.0, officials said.  Sarma is set to stay in Seoul for three days after meeting top industrialists and he will head to Tokyo afterwards. He will be in Japan for two days to showcase Assam’s potential to become a industrial hub in future. The CM visited Banpo Hangang ...
Assam CM to meet top industry leaders in Seoul today
Assam CM to meet top industry leaders in Seoul today
Source: IANS
2025-01-20 12:49:21 pm
South Korea to expand export financing support amid Donald Trump uncertainties The government here on Monday announced plans to provide extensive financial support to bolster exports this year, as uncertainties in the global trade environment are expected to intensify with the inauguration of US President-elect Donald Trump.  Trump is set to begin his second presidential term on Monday (US time), heightening concerns about a potential rise in global protectionism and its impact on South Korea's export-driven economy. "With the U.S. administration'...
South Korea to expand export financing support amid Donald Trump uncertainties
South Korea to expand export financing support amid Donald Trump uncertainties
Source: IANS
2025-01-20 12:32:34 pm
Seoul shares slightly up ahead of Donald Trump inauguration South Korean stocks opened a tad higher on Monday ahead of the inauguration of US President Donald Trump as 47th President.  The benchmark Korea Composite Stock Price Index (KOSPI) added 10.8 points, or 0.43 per cent, to 2,534.35 in the first 15 minutes of trading. Trump was set to take office for his second four-year term with his inauguration ceremony in Washington, DC. He has warned of protectionist trade policies, including higher tariffs, after his inauguration. In Seoul...
Seoul shares slightly up ahead of Donald Trump inauguration
Seoul shares slightly up ahead of Donald Trump inauguration
Source: IANS
2025-01-20 12:26:55 pm
HD Hyundai Electric Q4 net falls 10.9 pc on one-off costs HD Hyundai Electric, a South Korean electrical equipment maker, said on Monday its fourth-quarter net profit fell 10.9 per cent from a year earlier due to one-off costs.  Net profit for the three months ended on December 31 fell to 123.9 billion won ($85 million) from 139 billion won in the year-ago period, the company said in a regulatory filing, reports Yonhap news agency. "In the fourth quarter of last year, one-off expenses, which are not related to operations, were reflec...
HD Hyundai Electric Q4 net falls 10.9 pc on one-off costs
HD Hyundai Electric Q4 net falls 10.9 pc on one-off costs
Source: IANS
2025-01-20 09:42:01 am
India outlines 6-point plan to boost economic ties with Europe Commerce and Industry Minister Piyush Goyal outlined six broad principles for building a mutually beneficial partnership between India and the European Union at a high-level meeting here with Maros Sefcovic, European Commissioner for Trade and Economic Security on January 18-19.  The talks were aimed at setting up a new framework for an India-European Union strategic agenda in the area of trade and investment. Piyush Goyal said that India would first work together with the European...
India outlines 6-point plan to boost economic ties with Europe
India outlines 6-point plan to boost economic ties with Europe
Source: IANS
2025-01-20 09:34:00 am
Kazakhstan limits potato exports to control domestic prices The Kazakh Ministry of Agriculture has decided to impose a six-month ban on potato exports to non-Eurasian Economic Union (EAEU) countries to stabilise domestic potato prices, a statement published by the ministry said on Sunday. Due to increased demand from neighbouring countries and high export prices this year, potato exports have surged by 1.5 times, affecting local markets, said the ministry, Xinhua news agency reported.  The ban, which will not apply to trade with EAEU member...
Kazakhstan limits potato exports to control domestic prices
Kazakhstan limits potato exports to control domestic prices
Source: IANS
2025-01-20 09:26:32 am
Myanmar: Agriculture project benefits over 5,000 farmers  Myanmar's Agriculture and Rural Development Loan Project has disbursed over 247 billion kyats (about 117.61 million U.S. dollars) in financial assistance as of 2024, benefiting 5,816 farmers, the state-run Myanmar Radio and Television reported on Sunday. The report said that the project not only benefits farmers but also strengthens the country's agricultural sector, Xinhua news agency reported. The project, launched in July 2017, offers low-interest loans to support farme...
Myanmar: Agriculture project benefits over 5,000 farmers
Myanmar: Agriculture project benefits over 5,000 farmers
Source: IANS
2025-01-20 09:10:44 am
Dollar strong, stocks creep higher as second Donald Trump term dawns The dollar was firm and Asia's stock markets were cautiously positive on Monday as investors waited for an expected flurry of policy announcements in the first hours of Donald Trump's second presidency and eyed a rate hike in Japan at the end of the week. Trump takes the oath of office at noon Eastern Time (1700 GMT), and promised a "brand new day of American strength" at a rally on Sunday. He has stoked expectations he will issue a slew of executive orders right away ...
Dollar strong, stocks creep higher as second Donald Trump term dawns
Dollar strong, stocks creep higher as second Donald Trump term dawns
Source: Reuters
2025-01-20 08:55:19 am
Cambodia extends mine-free goal to 2030 Cambodia has extended its mine-free goal to 2030 from the previous 2025 target, due to geographical difficulties for mine search and clearance along the border, a spokesperson for the Cambodian Mine Action and Victim Assistance Authority (CMAA) said on Sunday. Lang Kosal said minefields along the Cambodia-Thailand border are located in extremely difficult geographical mountainous terrain and heavily forested areas. "These areas are densely contaminated, requiring more time and reso...
Cambodia extends mine-free goal to 2030
Cambodia extends mine-free goal to 2030
Source: IANS
2025-01-19 06:17:08 pm
IMF approves immediate disbursement of 248 mln USD to Ethiopia  The Executive Board of the International Monetary Fund (IMF) has approved an immediate disbursement of about 248 million U.S. dollars to Ethiopia to help the East African country meet its balance of payments needs. The decision came after the IMF held its second review of the 48-month Extended Credit Facility (ECF) for Ethiopia, according to an IMF statement, the state-run Ethiopian News Agency reported Saturday. The disbursement is a part of Ethiopia's ECF arrangement for a t...
IMF approves immediate disbursement of 248 mln USD to Ethiopia
IMF approves immediate disbursement of 248 mln USD to Ethiopia
Source: IANS
2025-01-19 06:13:13 pm
Scientists discover new superconductor material for wider use  Researchers from Tokyo Metropolitan University have discovered a new superconducting material which can be more widely deployed in society.  They combined iron, nickel, and zirconium, to create a new transition metal zirconide with different ratios of iron to nickel.  While both iron zirconide and nickel zirconide are not superconducting, the newly prepared mixtures are, exhibiting a “dome-shaped” phase diagram typical of so-called “unconventional super...
Scientists discover new superconductor material for wider use
Scientists discover new superconductor material for wider use
Source: IANS
2025-01-19 10:47:12 am
Senior South Korean politicians, business leaders head for Donald Trump`s inauguration Senior politicians and business leaders have departed for the United States to attend Donald Trump's presidential inauguration ceremony, officials said on Sunday.  With Trump set to return to the White House, questions have been raised over whether South Korea can push for high-level engagement with the incoming U.S. administration in the wake of President Yoon Suk Yeol's short-lived martial law imposition and his subsequent impeachment. Seven lawmakers of the parliamentary...
Senior South Korean politicians, business leaders head for Donald Trump`s inauguration
Senior South Korean politicians, business leaders head for Donald Trump`s inauguration
Source: IANS
2025-01-19 10:25:16 am
Europe shares head for best week since September on easing yields, China GDP European shares rose on Friday and were heading for their biggest one-week jump since September as falling bond yields, stronger-than-forecast China growth figures and upbeat earnings supported riskier assets. The Chinese data also supported most Asia-Pacific shares, but Japanese markets underperformed after the yen popped to a one-month high due to rising bets that the Bank of Japan will hikes interest rates next week. The dollar clawed back some of Thursday's steep declines agains...
Europe shares head for best week since September on easing yields, China GDP
Europe shares head for best week since September on easing yields, China GDP
Source: Reuters
2025-01-17 05:13:35 pm
Cote d`Ivoire increases oil, gas output with Baleine Phase 2 Cote d'Ivoire's oil and gas production is expected to rise to a total of 75,000 to 85,000 barrels per day of crude oil from the current output of 30,000 barrels per day following the "successful" start of production in phase 2 of the Baleine field, the government said.  "The cumulative production from phases 1 and 2 of Baleine is projected to reach a total of 75,000 to 85,000 barrels per day of crude oil and 80 to 85 million cubic feet of natural gas," said...
Cote d`Ivoire increases oil, gas output with Baleine Phase 2
Cote d`Ivoire increases oil, gas output with Baleine Phase 2
Source: IANS
2025-01-17 09:58:20 am
Kenya`s economy projected to grow 5.3 per cent in 2025  Kenya's economy is projected to grow by 5.3 per cent in 2025, according to the National Treasury.  In its Budget Policy Statement for 2025, the Treasury said this growth would represent an increase from 4.6 per cent in 2024 and 5.6 per cent in 2023. The country's economy contracted in 2024 due to a deceleration in economic activities during the first three quarters of the year and a slowdown in private sector credit growth to key sectors, according to the Treasury. ...
Kenya`s economy projected to grow 5.3 per cent in 2025
Kenya`s economy projected to grow 5.3 per cent in 2025
Source: IANS
2025-01-17 09:51:40 am
Asia stocks fall despite China GDP beat; bond yields drop with Fed in focus The tone in global stocks turned weaker on Friday as Asian shares tracked overnight losses on Wall Street, even as bond yields slid amid a revival in bets that the Federal Reserve will cut interest rates in June. Japanese equities were standout underperformers, with the Nikkei on course for its worst week in three months, buckling under the weight of a resurgent yen amid rising bets for a Bank of Japan rate hike next week. Chinese stocks drew some support after official figures showed t...
Asia stocks fall despite China GDP beat; bond yields drop with Fed in focus
Asia stocks fall despite China GDP beat; bond yields drop with Fed in focus
Source: Reuters
2025-01-17 08:50:11 am
Middle East premium hits over 2-year high on strong demand from China, India Spot premiums for Middle East crude rose to their highest in more than two years as strong demand from top importers China and India to replace sanctioned supply drove up prices, traders said. The Biden administration on Friday announced sweeping sanctions targeting Russian producers and tankers, disrupting supply from the world's No. 2 producer and tightening ship availability. That sparked a scramble among buyers in China and India, the world's top and third-largest importers,...
Middle East premium hits over 2-year high on strong demand from China, India
Middle East premium hits over 2-year high on strong demand from China, India
Source: Reuters
2025-01-16 02:17:08 pm
EET Hydrogen, ENKA join hands to deliver UK's leading large-scale low carbon hydrogen production plant  Essar Energy Transition (EET) Hydrogen on Wednesday signed an Engineering, Procurement and Construction (EPC) contract with ENKA for its flagship low carbon hydrogen production plant (HPP1) at the Stanlow Manufacturing Complex in Ellesmere Port, Cheshire.  In October 2024, the UK government announced funding had been agreed to support HPP1 as the UK's first large-scale low carbon hydrogen project at the heart of the HyNet Cluster. HPP1 will have a production capacity of 3...
EET Hydrogen, ENKA join hands to deliver UK's leading large-scale low carbon hydrogen production plant
EET Hydrogen, ENKA join hands to deliver UK's leading large-scale low carbon hydrogen production plant
Source: IANS
2025-01-16 10:26:07 am
South Korea to start joint project with ASEAN for digital innovation The science ministry here said on Thursday it will begin a five-year joint project with the Association of Southeast Asian Nations (ASEAN) worth $30 million this year to foster digital innovation in the ASEAN region.  The Ministry of Science and ICT said it will discuss the details of the project at the two-day ASEAN Digital Ministers Meeting to be held through Friday. The project is aimed at applying South Korea's advanced digital technologies in ASEAN nations to facilitate th...
South Korea to start joint project with ASEAN for digital innovation
South Korea to start joint project with ASEAN for digital innovation
Source: IANS
2025-01-16 10:23:23 am
Hyundai, Kia expected to announce record 2024 earnings Hyundai Motor and Kia, South Korea's top automakers, are expected to release their annual earnings results next week, drawing attention as to whether they can extend their streak of record-breaking performances, industry watchers said on Thursday.  According to an analysis of securities industry forecasts by Yonhap Infomax over the past three months, Hyundai Motor is estimated to report sales of 173.1 trillion won ($118.9 billion) and an operating profit of 14.8 trillion won for 2...
Hyundai, Kia expected to announce record 2024 earnings
Hyundai, Kia expected to announce record 2024 earnings
Source: IANS
2025-01-16 10:17:08 am
BOK holds key rate unchanged amid weak currency, Donald Trump uncertainty Despite mounting woes leading to weak growth momentum, South Korea's central bank kept its benchmark interest rate frozen on Thursday in the wake of the weak local currency and uncertainties stemming from the new Donald Trump administration.  The monetary policy committee of the Bank of Korea (BOK) held its key rate unchanged at 3 percent during a rate-setting meeting in Seoul, reports Yonhap news agency. The decision came on the heels of two rate cuts in the prior meetings in ...
BOK holds key rate unchanged amid weak currency, Donald Trump uncertainty
BOK holds key rate unchanged amid weak currency, Donald Trump uncertainty
Source: IANS
2025-01-16 10:14:58 am
Britain`s inflation dips to 2.5 per cent in December: ONS  Britain's Consumer Prices Index (CPI) rose by 2.5 per cent in the 12 months to December 2024, down from 2.6 per cent in November, according to data from the Office for National Statistics (ONS) released on Wednesday.  "Inflation eased very slightly as hotel prices dipped this month but rose a year ago. The cost of tobacco was another downward driver, as prices increased by less than this time last year," said ONS Chief Economist Grant Fitzner. "This was par...
Britain`s inflation dips to 2.5 per cent in December: ONS
Britain`s inflation dips to 2.5 per cent in December: ONS
Source: IANS
2025-01-16 10:04:30 am
US rule on connected cars lifts market uncertainties: South Korea  South Korea's industry ministry hailed Washington's finalised rule on connected cars on Wednesday, saying it will remove many uncertainties for South Korean automakers.  The US Bureau of Industry and Security on Tuesday (U.S. time) unveiled the new rule that will ban sales of connected cars with cameras, software and other components manufactured in China and Russia, reports Yonhap news agency. "After the United States made a preliminary announcement on the regul...
US rule on connected cars lifts market uncertainties: South Korea
US rule on connected cars lifts market uncertainties: South Korea
Source: IANS
2025-01-16 09:47:59 am
Stocks rise with US rate cuts back in view; yen at one-month high Asian shares tracked Wall Street higher on Thursday and the dollar was soft as easing core U.S. inflation kept potential rate cuts by the Federal Reserve on the table, while the yen rose to a one-month high on rate hike bets. Oil prices rose after a larger-than-expected decline in U.S. crude oil stockpiles added to concerns about possible supply disruptions from new U.S. sanctions on Russian energy trade. On Wall Street, all three major indexes registered their biggest daily percentage ...
Stocks rise with US rate cuts back in view; yen at one-month high
Stocks rise with US rate cuts back in view; yen at one-month high
Source: Reuters
2025-01-16 08:49:55 am