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Asia shares rise, dollar underpinned by elevated bond yields Asian stocks edged up on Tuesday, though moves were subdued in a holiday-curtailed week, while the greenback held near a two-year high helped by elevated U.S. Treasury yields as investors prepared for fewer Federal Reserve rate cuts in 2025. After a recent run of central bank decisions, this week is much quieter, with Japan's October meeting minutes and Australia's December minutes released on Tuesday morning, providing more details on their decisions to hold rates at the time. The...
Asia shares rise, dollar underpinned by elevated bond yields
Asia shares rise, dollar underpinned by elevated bond yields
Source: Reuters
2024-12-24 09:00:33 am
Elon Musk`s X hikes Premium+ subscription prices by huge 35 pc in India, globally Tech billionaire Elon Musk has raised prices of its top-tier subscription service (Premium+) for his X social media platform by a massive 35 per cent for both new and existing users in India, including across global markets.  Effective from December 21, the Premium+ users in India will need to shell out Rs 1,750 a month — up from Rs 1,300 now, which is an approximately 35 per cent hike. Similarly, on an annual basis, the Premium+ users in the country will need to pay Rs 18,30...
Elon Musk`s X hikes Premium+ subscription prices by huge 35 pc in India, globally
Elon Musk`s X hikes Premium+ subscription prices by huge 35 pc in India, globally
Source: IANS
2024-12-23 10:53:30 am
LG Energy Solution, Qualcomm to boost chip-based battery management LG Energy Solution Ltd (LGES), South Korea's leading battery maker, said on Monday it has reached an agreement with Qualcomm Technologies to jointly accelerate the commercialisation of system-on-chip-based battery management system (SoC-based BMS) diagnostic solutions.  Under the agreement, LGES' new advanced BMS software will be made available on the Snapdragon Digital Chassis from Qualcomm. The BMS software will also integrate with the Snapdragon Car-to-Cloud Connected Servi...
LG Energy Solution, Qualcomm to boost chip-based battery management
LG Energy Solution, Qualcomm to boost chip-based battery management
Source: IANS
2024-12-23 10:30:08 am
Number of debt workout scheme applicants expected to hit record high in 2024 The number of people newly-seeking assistance through a debt workout programme here is expected to reach an all-time high this year, government data showed on Sunday, amid the prolonged economic slowdown.  Under the state-managed bailout scheme, the Credit Counseling and Recovery Service (CCRS) collaborates with financial companies to provide individuals on the brink of insolvency a second chance by restructuring their credit obligations and writing off debt when necessary. A total...
Number of debt workout scheme applicants expected to hit record high in 2024
Number of debt workout scheme applicants expected to hit record high in 2024
Source: IANS
2024-12-23 09:14:02 am
Asia shares rally on US inflation relief  Asian shares rallied on Monday after a benign reading on U.S. inflation restored some hope for further policy easing next year, while there was relief that Washington had averted a government shutdown. After the bonanza of recent central bank decisions, this week is much quieter with only the minutes of a few of those meetings due. There are no Federal Reserve speeches and U.S. data is of secondary importance. Otherwise the themes were largely the same, with the dollar underpinned...
Asia shares rally on US inflation relief
Asia shares rally on US inflation relief
Source: Reuters
2024-12-23 09:05:40 am
Shinsegae chairman had '10-15 minute talk`with US President-elect Donald Trump Chung Yong-jin, chairman of South Korean retail conglomerate Shinsegae Group, said he had a brief talk with US President-elect Donald Trump during his visit to Trump's Florida resort but declined to provide any other details.  "I had a meal together with President-elect Trump, and we separately had an in-depth conversation on various topics," he told Yonhap News Agency while waiting for his return flight home from Hartsfield-Jackson Atlanta International Airport on Satur...
Shinsegae chairman had '10-15 minute talk`with US President-elect Donald Trump
Shinsegae chairman had '10-15 minute talk`with US President-elect Donald Trump
Source: IANS
2024-12-23 09:01:49 am
Monthly 5G traffic in South Korea likely to surpass 1 mn TB for 1st time  The monthly mobile data traffic running on fifth-generation (5G) networks is expected to surpass 1 million terabytes for the first time this month, industry officials said on Sunday, as news viewership soared following President Yoon Suk Yeol's surprise martial law declaration.  Should it exceed the 1 million TB mark, it would be the first time since South Korea rolled out the world's first commercial 5G network in April 2019 with the nation's three carriers -- SK Te...
Monthly 5G traffic in South Korea likely to surpass 1 mn TB for 1st time
Monthly 5G traffic in South Korea likely to surpass 1 mn TB for 1st time
Source: IANS
2024-12-22 11:14:50 am
South Korea holds largest share of US battery material import market South Korea held the largest share of the US import market for battery materials last year, a trade association said on Sunday, outranking rivals China and Japan.  The United States imported $9.7 billion worth of key battery materials -- anode and cathode materials and separators -- from South Korea in 2023, up 93.1 percent from $5.02 billion in 2020, according to the Korea International Trade Association (KITA), which analysed UN trade data. Last year, South Korea held a 33.7 per ...
South Korea holds largest share of US battery material import market
South Korea holds largest share of US battery material import market
Source: IANS
2024-12-22 11:11:25 am
US finalises $4.7 billion in CHIPS Act subsidy to Samsung The US Commerce Department has awarded Samsung Electronics up to $4.745 billion in direct funding to support the South Korean tech giant's chipmaking investment in central Texas, as it strives to strengthen domestic semiconductor production.  The announcement came after the department announced a preliminary deal with Samsung in April to provide up to $6.4 billion in grants under the CHIPS and Science Act, reports Yonhap news agency. It also announced a final decision to give u...
US finalises $4.7 billion in CHIPS Act subsidy to Samsung
US finalises $4.7 billion in CHIPS Act subsidy to Samsung
Source: IANS
2024-12-21 09:54:29 am
Hanwha completes $100 mn acquisition of US firm Philly Shipyard  South Korea's Hanwha Group said on Friday it has completed a $100 million acquisition of Philly Shipyard, a leading US shipbuilder for commercial and government projects.  The acquisition was finalized six months after signing a contract with Norway's Aker ASA, the parent company, in June. Hanwha Ocean Co. and Hanwha Systems Co. jointly undertook the acquisition. Philly Shipyard was established in 1997 on the site of a former U.S. Navy shipyard in Philadelphia. It has...
Hanwha completes $100 mn acquisition of US firm Philly Shipyard
Hanwha completes $100 mn acquisition of US firm Philly Shipyard
Source: IANS
2024-12-21 08:54:47 am
US and India discuss advancing space partnership, announce initiatives The US and India are set to strengthen space cooperation, including for human spaceflight, and joint space exploration, and are expected to facilitate commercial partnerships between space companies of both countries to advance shared interests in the growing space economy.  After US President Joe Biden and Prime Minister Narendra Modi in June 2023 committed to work together to “reach new frontiers across all sectors of space cooperation” and India’s signing of the A...
US and India discuss advancing space partnership, announce initiatives
US and India discuss advancing space partnership, announce initiatives
Source: IANS
2024-12-20 02:42:33 pm
Seoul shares dip on US monetary policy uncertainties  Seoul shares fell more than 1 per cent Friday amid concerns over a slower monetary easing cycle in the United States, along with the aftermath of President Yoon Suk Yeol's short-lived martial law declaration this month.  The Korean won also continued to hover around 1,450 won per US dollar for two straight sessions, the lowest level in 15 years. The benchmark Korea Composite Stock Price Index (KOSPI) plunged 31.78 points, or 1.3 per cent, to close at 2,404.15. It fell bel...
Seoul shares dip on US monetary policy uncertainties
Seoul shares dip on US monetary policy uncertainties
Source: IANS
2024-12-20 02:37:33 pm
India looking at collaboration with HD Korea Shipbuilding Officials of HD Korea Shipbuilding & Offshore Engineering met with the secretary of India's oil ministry on Thursday and the two sides are exploring potential collaborations in shipbuilding, the South Asian nation said.
India looking at collaboration with HD Korea Shipbuilding
India looking at collaboration with HD Korea Shipbuilding
Source: Reuters
2024-12-20 11:43:37 am
LG Energy Solution wins ESS supply deal from US firm LG Energy Solution Ltd (LGES), South Korea's leading battery maker, said on Friday its US unit has signed a multi-year deal to supply energy storage systems (ESS) to a local renewable energy infrastructure investor.  LG Energy Solution Vertech, Inc. will supply 7.5-gigawatt-hour (GWh) ESS units to Excelsior Energy Capital LP over several years starting from 2026, the company said in a press release. The company didn't provide the exact timeframe for the deal, or its value, ...
LG Energy Solution wins ESS supply deal from US firm
LG Energy Solution wins ESS supply deal from US firm
Source: IANS
2024-12-20 10:10:27 am
US grants combined $958 million subsidy to chip maker SK hynix  The US Commerce Department said on Thursday it has decided to grant up to US$458 million in direct funding to SK hynix’s project to build a new plant in the state of Indiana.  The U.S. government will also provide up to $500 million in loans, both under the CHIPS and Science Act, according to the U.S. Department of Commerce. In April, the company announced a plan to invest $3.87 billion to build a memory packaging plant for artificial intelligence (AI) products, and an ...
US grants combined $958 million subsidy to chip maker SK hynix
US grants combined $958 million subsidy to chip maker SK hynix
Source: IANS
2024-12-20 09:11:34 am
Hyundai, Kia`s Europe sales down 10.5 pc in November  Combined vehicle sales of leading South Korean automakers Hyundai Motor and Kia in Europe fell 10.5 per cent in November from a year ago, industry data showed on Thursday.  According to the data from the European Automobile Manufacturers' Association (ACEA), Hyundai and Kia sold a combined 79,744 units in Europe last month. ACEA data showed Hyundai Motor's sales dropped 12.5 percent on-year to 39,592 units, while those of Kia dropped 8.4 percent to 40,152 units. Th...
Hyundai, Kia`s Europe sales down 10.5 pc in November
Hyundai, Kia`s Europe sales down 10.5 pc in November
Source: IANS
2024-12-20 09:07:16 am
Korean stock market declines over 1 pc on US monetary policy uncertainties Seoul shares fell more than 1 per cent on Friday amid concerns over a slower monetary easing cycle in the United States, along with the aftermath of President Yoon Suk Yeol's short-lived martial law declaration this month.  The Korean won also continued to hover around 1,450 won per U.S. dollar for two straight sessions, the lowest level in 15 years. The benchmark Korea Composite Stock Price Index (KOSPI) plunged 31.78 points, or 1.3 per cent, to close at 2,404.15. It fell belo...
Korean stock market declines over 1 pc on US monetary policy uncertainties
Korean stock market declines over 1 pc on US monetary policy uncertainties
Source: IANS
2024-12-20 09:03:10 am
Asian shares pinned near three-month lows, dollar towers at 2-yr peak Asian shares were pinned near three-month lows on Friday as investors awaited key U.S. inflation data that could either ease or worsen concerns about price pressures, while the dollar towered at two-year peaks. The closely watched inflation gauge - the U.S. Core Personal Consumption Expenditures - is due later in the day. Forecasts are centred on a monthly rise of 0.2% for November, and any upward surprises there could lead markets to further scale back bets for U.S. policy easing next yea...
Asian shares pinned near three-month lows, dollar towers at 2-yr peak
Asian shares pinned near three-month lows, dollar towers at 2-yr peak
Source: Reuters
2024-12-20 08:54:40 am
South Korea to develop 100 advanced industry materials within 5 years South Korea will seek to secure technologies for 100 advanced materials for the chip, biology, and other industries within the next five years, the science ministry said on Thursday, a move aimed at strengthening its own supply chains.  According to the Ministry of Science and ICT, the government will support science research and development projects to independently develop 100 advanced materials, including 20 semiconductor-related materials, 23 battery materials, and 10 biomaterials...
South Korea to develop 100 advanced industry materials within 5 years
South Korea to develop 100 advanced industry materials within 5 years
Source: IANS
2024-12-19 06:11:49 pm
India tops list of recipient countries for remittances with $129 bn inflow in 2024 India tops the list of recipient countries for remittances in 2024 with an estimated inflow of $129 billion, followed by Mexico ($68 billion), China ($48 billion), the Philippines ($40 billion), and Pakistan ($33 billion), according to the latest figures compiled by World Bank economists.  The growth rate of remittances this year is estimated to be 5.8 per cent, compared to 1.2 per cent registered in 2023, according to a World Bank blog post “The recovery of the job markets i...
India tops list of recipient countries for remittances with $129 bn inflow in 2024
India tops list of recipient countries for remittances with $129 bn inflow in 2024
Source: IANS
2024-12-19 12:02:22 pm
Asian stocks dive after Fed flags slower rate cuts, BOJ decision awaited Asian stocks slid, bond yields rose and the dollar was perched near a two-year high on Thursday after the U.S. Federal Reserve cautioned it would ease the pace of rate cuts in the coming year and investors braced for a Bank of Japan policy decision. The Fed cut interest rates on Wednesday as expected, but Chair Jerome Powell's explicit references to the need for caution from here on sent U.S. stocks sharply lower, with Treasury yields surging and traders scaling back bets on rate cuts ...
Asian stocks dive after Fed flags slower rate cuts, BOJ decision awaited
Asian stocks dive after Fed flags slower rate cuts, BOJ decision awaited
Source: Reuters
2024-12-19 08:50:32 am
South Korean government unveils measures to boost corporate investment amid martial law debacle The South Korean government on Wednesday unveiled a series of measures to stimulate corporate investment in key industries, aiming to address concerns that recent political turmoil could have long-term negative effects on the economy.  The plan was introduced during a meeting chaired by Finance Minister Choi Sang-mok and attended by other economy-related ministers, amid rising concerns following the recent declaration of martial law and the impeachment of President Yoon Suk Yeol, Yonh...
South Korean government unveils measures to boost corporate investment amid martial law debacle
South Korean government unveils measures to boost corporate investment amid martial law debacle
Source: IANS
2024-12-18 02:29:45 pm
South Korea to ease regulations, enable new hydrogen charging stations  South Korea's industry ministry said on Wednesday the country plans to implement eased regulations for hydrogen charging stations next year in line with efforts to support the sector's ecosystem.  The set of new rules is reflected in the revised high-pressure gas safety control act, which will be implemented in May, focusing on lowering barriers for building new hydrogen charging stations, according to the Ministry of Trade, Industry and Energy. Under the updated guid...
South Korea to ease regulations, enable new hydrogen charging stations
South Korea to ease regulations, enable new hydrogen charging stations
Source: IANS
2024-12-18 10:26:39 am
South Korea begins local production of nanotechnology-backed filters for chips  South Korea's industry ministry said on Tuesday the country has kicked off its first domestic production of filters using nanotechnology, paving the way for the self-supply of a critical product needed to produce semiconductors.  The production began at the factory of Synopex Inc. in Dongtan, 40 kilometers south of Seoul, with a capacity that is sufficient to meet the entire domestic demand, according to the Ministry of Trade, Industry and Energy. South Korea has been rel...
South Korea begins local production of nanotechnology-backed filters for chips
South Korea begins local production of nanotechnology-backed filters for chips
Source: IANS
2024-12-17 09:49:14 am
Asian shares drift, dollar firms ahead of central bank meetings Asian stocks edged higher and the dollar held firm on Tuesday as traders braced for a slate of central banks meetings this week that is likely to see the U.S. Federal Reserve deliver a rate cut and the Bank of Japan stand pat for now. Bitcoin, the best-known and the biggest cryptocurrency, remained nestled near the record high of $107,821 it touched on Monday. It was last flat at $106,041. The crypto market has been on a tear since the U.S. election in early November as traders wager th...
Asian shares drift, dollar firms ahead of central bank meetings
Asian shares drift, dollar firms ahead of central bank meetings
Source: Reuters
2024-12-17 08:58:23 am
South Korean chip exports face growing competition from China, Malaysia South Korea's semiconductor exports face growing threats from China, Taiwan and Malaysia amid intensifying global competition in advanced industries, an industry report showed on Monday.  The report from the Korea Trade-Investment Promotion Agency, better known as KOTRA, on the export similarity index (ESI) for semiconductors showed China as being South Korea's top competitor in the sector, with an ESI score of 72.2 in the third quarter of the year. Taiwan's ESI with So...
South Korean chip exports face growing competition from China, Malaysia
South Korean chip exports face growing competition from China, Malaysia
Source: IANS
2024-12-16 10:01:03 am
Hyundai AutoEver, MapmyIndia establish navigation map joint venture Hyundai AutoEver, the information technology affiliate of Hyundai Motor Group, said on Monday it has established a joint venture in Indonesia to develop navigation maps for the Southeast Asian country and many others in the region.  The new firm, named Terra Link Technologies, has been jointly established with India's MapmyIndia, according to the South Korean company. The joint venture will focus on developing high-quality automotive navigation maps for Indonesia, Thailand, Vie...
Hyundai AutoEver, MapmyIndia establish navigation map joint venture
Hyundai AutoEver, MapmyIndia establish navigation map joint venture
Source: IANS
2024-12-16 09:51:36 am
Bangladesh`s forex reserves dip to $18.61 bn Bangladesh's foreign exchange reserves fell by 1.23 billion U.S. dollars to 18.61 billion dollars by the end of November 2024, the latest central bank data showed. The Bangladesh Bank data showed the country's foreign exchange reserves stood at 18,611.40 million dollars on Nov. 28, the last working day of the month, according to the International Monetary Fund (IMF) calculation method, Xinhua news agency reported. The central bank, however, said gross reserves were 24.35 billion...
Bangladesh`s forex reserves dip to $18.61 bn
Bangladesh`s forex reserves dip to $18.61 bn
Source: IANS
2024-12-16 09:03:51 am
Asia wary of Fed rate future, China data disappoints Asian stock markets were in a wary mood on Monday as surging bond yields challenged equity valuations, particularly for the richly priced tech sector, in a week packed with central bank meetings and major economic data. Figures from China out on Monday showed retail sales rose just 3.0% in November, compared to a year earlier, well below market forecasts of 4.6% and evidence of the need for much more aggressive stimulus. Industrial production was much as expected, while house prices were s...
Asia wary of Fed rate future, China data disappoints
Asia wary of Fed rate future, China data disappoints
Source: Reuters
2024-12-16 08:57:14 am
South Korea to invest $1.9 billion in developing tech to tackle climate change The South Korean government will invest 2.7 trillion won ($1.9 billion) in developing technologies aimed at tackling climate change next year, the science ministry said on Sunday.  The figure marks a 3.9 per cent increase from the 2.6 trillion-won investment into the scheme in 2024, according to the Ministry of Science and ICT. The investment comes as part of the government's 10-year plan to advance science technologies by 2032 to respond to global warming, reports Yonhap news ...
South Korea to invest $1.9 billion in developing tech to tackle climate change
South Korea to invest $1.9 billion in developing tech to tackle climate change
Source: IANS
2024-12-15 05:01:58 pm
Spain`s tourist industry outlook for 2025 upbeat after record visitors this year  Spain is set to register a record number of visitors this year, with some 95 million foreign visitors coming to the country and a turnover of over 2 billion euros ($2.10 billion), according to the Spanish tourist industry organisation Mesa de Turismo. With foreign visitor numbers returning to pre-pandemic levels, Spain's tourist industry appears to have fully recovered from the health crisis and is now looking ahead with optimism, Xinhua news agency reported. In Barcelona, a m...
Spain`s tourist industry outlook for 2025 upbeat after record visitors this year
Spain`s tourist industry outlook for 2025 upbeat after record visitors this year
Source: IANS
2024-12-15 04:07:02 pm
Porous silicon oxide electrodes can fix durability issues in batteries: Researchers A team of researchers from Doshisha University in Japan on Saturday said that porous silicon oxide electrodes offer a breakthrough towards sustainable energy storage.  Lithium-ion batteries (LIBs) can be found virtually everywhere. However, current battery designs suffer from some crippling drawbacks, including low durability and the use of toxic liquid electrolytes. Although silicon-based all-solid-state batteries should be theoretically more durable than conventional LIBs, an uns...
Porous silicon oxide electrodes can fix durability issues in batteries: Researchers
Porous silicon oxide electrodes can fix durability issues in batteries: Researchers
Source: IANS
2024-12-15 10:27:35 am
`India-UK Financial Markets Dialogue` hails reforms in both countries Senior officials from India and the UK on Friday touched upon reforms in respective financial services sectors, including capital markets, insurance and reinsurance, pensions, fintech, sustainable finance and International Financial Services Centre.  The third meeting of ‘India-UK Financial Markets Dialogue’ was hosted by Department of Economic Affairs, Ministry of Finance, in GIFT City, Gujarat. Delegates from India and the UK shared perspectives on priorities and ongoing...
`India-UK Financial Markets Dialogue` hails reforms in both countries
`India-UK Financial Markets Dialogue` hails reforms in both countries
Source: IANS
2024-12-14 11:15:35 am
Economic and digital corridors to maritime connectivity, India and Italy building vision for future, says Italian Ambassador  India and Italy continue to work towards enhancing collaboration in maritime and land infrastructure in the framework of the India-Middle East-Europe Economic Corridor (IMEEC) besides also concluding an agreement on cooperation in the maritime and port sector. Speaking exclusively to IANS, Italian Ambassador to India Antonio Bartoli hoped that the work on the "game-changer" IMEEC project would continue despite the current geopolitical crisis in the eastern Mediterranean reg...
Economic and digital corridors to maritime connectivity, India and Italy building vision for future, says Italian Ambassador
Economic and digital corridors to maritime connectivity, India and Italy building vision for future, says Italian Ambassador
Source: IANS
2024-12-14 09:29:06 am
New Zealand`s overseas visitor arrivals continue to rise New Zealand's overseas visitor arrivals were 240,200 in October 2024, an increase of 14,200 from October 2023, with the biggest changes in arrivals from Australia, the United States, Singapore, and Britain, the statistics department Stats NZ said on Friday.  The total number of overseas visitor arrivals in October 2024 was 85 per cent of the 283,800 in October 2019, which was before the Covid-19 pandemic, Stats NZ said. Of the 240,200 overseas visitor arrivals in October 2024, ...
New Zealand`s overseas visitor arrivals continue to rise
New Zealand`s overseas visitor arrivals continue to rise
Source: IANS
2024-12-13 05:54:33 pm
G20 meeting: South Korea stresses tech innovation, zero-carbon energy South Korea has called on major nations to seek ways of actively using zero-carbon energy resources and joining hands to achieve technology innovation in an effort to address various global economic challenges, the finance ministry said on Friday.  The Seoul government made the point during the Group of 20 (G20) meeting for finance and central bank deputies, which took place in Johannesburg, South Africa, on Wednesday and Thursday (local time), according to the Ministry of Economy and...
G20 meeting: South Korea stresses tech innovation, zero-carbon energy
G20 meeting: South Korea stresses tech innovation, zero-carbon energy
Source: IANS
2024-12-13 12:02:54 pm
Commercial-level air taxis arriving soon in South Korea The transport ministry said on Friday it will conduct a flight demonstration of a commercial-level air taxi model this week, as part of a government project to introduce the urban air mobility (UAM) industry in the country.  The ministry will demonstrate the operation of the S-4 model built by U.S. electric aircraft manufacturer Joby Aviation Inc. at the Korea Aerospace Research Institute's aviation center in Goheung, about 330 kilometers south of Seoul, on Saturday. The demons...
Commercial-level air taxis arriving soon in South Korea
Commercial-level air taxis arriving soon in South Korea
Source: IANS
2024-12-13 09:40:11 am
Samsung to launch `extended reality` headset next year  South Korean tech giant Samsung Electronics said on Friday it will launch an "extended reality" (XR) headset jointly developed with Alphabet’s Google and Qualcomm in global markets next year.  The extended reality headset is part of wearable devices to be powered by the new version of Google's Android software -- called Android XR -- developed in tandem with Samsung. "The XR headset product will arrive in global markets sometime next year. No further ...
Samsung to launch `extended reality` headset next year
Samsung to launch `extended reality` headset next year
Source: IANS
2024-12-13 09:34:18 am
China Plans Debt Boost, Interest Rate Cuts for 2024 Growth by Amit Gupta, Kedia Advisory China's Central Economic Work Conference (CEWC) outlined plans to enhance economic stability by raising the budget deficit, issuing more debt, and adopting a looser monetary policy in 2024. The country aims to counteract external pressures such as U.S. trade tensions and internal challenges like the property market crisis and high local government debt. The CEWC pledged active fiscal measures, including ultra-long-term treasury bonds and reduced bank reserve requirements. While specific g...
China Plans Debt Boost, Interest Rate Cuts for 2024 Growth by Amit Gupta, Kedia Advisory
China Plans Debt Boost, Interest Rate Cuts for 2024 Growth by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-12-13 09:05:17 am
Korean Air completes Asiana takeover, integrating it as subsidiary Korean Air, South Korea's biggest airline, has successfully integrated local rival Asiana Airlines as a subsidiary, wrapping up a years-long acquisition process, the company said on Thursday.  Korean Air spent 1.5 trillion won ($1.04 billion) to acquire 131.57 million new shares issued by Asiana to take over the country's second-largest full-service carrier in the 1.8 trillion-won merger deal. The acquired Asiana shares account for 63.88 percent of the total, Korean Air sai...
Korean Air completes Asiana takeover, integrating it as subsidiary
Korean Air completes Asiana takeover, integrating it as subsidiary
Source: IANS
2024-12-13 08:56:50 am
Asian shares fall, long-dated Treasuries set for worst week in a year Asia shares fell on Friday as a strong dollar kept risk sentiment fragile, while longer-dated Treasury yields are heading for their biggest weekly rise this year as expectations for deep U.S. rate cuts in 2025 recede. A top level meeting in Beijing pledged to increase debt and boost consumption but failed to boost Chinese equity markets. Policymakers are girding for more trade tensions with the U.S. as Donald Trump's return to power approaches. It has been a week of rate cuts from S...
Asian shares fall, long-dated Treasuries set for worst week in a year
Asian shares fall, long-dated Treasuries set for worst week in a year
Source: Reuters
2024-12-13 08:54:33 am
Rosneft, Reliance agree biggest ever India-Russia oil supply deal, sources say Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said. The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today's prices. It would further cement energy relations between India and Russia, which is under heavy Western sanctions over its invasion of Ukraine. ...
Rosneft, Reliance agree biggest ever India-Russia oil supply deal, sources say
Rosneft, Reliance agree biggest ever India-Russia oil supply deal, sources say
Source: Reuters
2024-12-12 03:36:36 pm
India seeking mutually beneficial FTA with EU: Piyush Goyal Commerce and Industry Minister Piyush Goyal has highlighted that India is aiming for a balanced, comprehensive and mutually beneficial Free Trade Agreement (FTA) with the EU, according to an official statement issued on Thursday.  At a meeting held here with Ambassadors of the European Commission delegation, Austria, Belgium, Bulgaria, Czech Republic, Estonia, Italy, Ireland, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovak Republic, Spain and Sweden, the minister discussed...
India seeking mutually beneficial FTA with EU: Piyush Goyal
India seeking mutually beneficial FTA with EU: Piyush Goyal
Source: IANS
2024-12-12 12:18:42 pm
6-7 pc growth rate in India good given global average, infra work on solid ground: Mark Mobius India’s ability to manage inflation without compromising growth will be pivotal in attracting sustained foreign investments, global ace investor Mark Mobius said on Thursday, adding that on a macro front, 6-7 per cent growth rate in India is a good rate given the global average.  Addressing an investor webinar organised by PL Capital-Prabhudas Lilladher, the veteran investor said the Indian economy grew a good 5.4 per cent in Q2 FY25, despite having a size as big as $4 trillion....
6-7 pc growth rate in India good given global average, infra work on solid ground: Mark Mobius
6-7 pc growth rate in India good given global average, infra work on solid ground: Mark Mobius
Source: IANS
2024-12-12 12:08:07 pm
IPEF members discuss supply chain cooperation in chemicals, chips  Members of the Indo-Pacific Economic Framework (IPEF) on Thursday held a virtual meeting to discuss ways to expand cooperation in global supply chains, including chemicals, chips and critical minerals, Seoul's industry ministry said.  During the meeting, the members reviewed progress in the implementation of supply chain cooperation, which has come into effect in 11 of the 14 participating nations, and assessed plans for 2025, according to the Ministry of Trade, Industry and...
IPEF members discuss supply chain cooperation in chemicals, chips
IPEF members discuss supply chain cooperation in chemicals, chips
Source: IANS
2024-12-12 10:50:28 am
Hyundai Motor to join Google to advance software capabilities for future mobility South Korean auto giant Hyundai Motor Group said on Thursday it will join hands with Google to strengthen its automotive software system and deliver next-generation navigation and infotainment experiences for drivers.  Under the partnership, Hyundai Motor will adopt Google's Android Automotive Operating System (AAOS) and use Google Maps' geolocation information service, called the Places API, to upgrade its navigation capabilities, according to company officials. Rather tha...
Hyundai Motor to join Google to advance software capabilities for future mobility
Hyundai Motor to join Google to advance software capabilities for future mobility
Source: IANS
2024-12-12 09:56:33 am
Apple Intelligence now features Image Playground, Genmoji, ChatGPT support Apple on Wednesday announced the release of iOS 18.2, iPadOS 18.2, and macOS Sequoia 15.2, with a new set of Apple Intelligence features that will elevate users’ experience with iPhone, iPad, and Mac.  Now, users can explore creative new ways to express themselves visually with Image Playground, create the perfect emoji for any situation with Genmoji, and make their writing even more dynamic with new enhancements to Writing Tools, the company said in a statement. Building on ...
Apple Intelligence now features Image Playground, Genmoji, ChatGPT support
Apple Intelligence now features Image Playground, Genmoji, ChatGPT support
Source: IANS
2024-12-12 09:27:57 am
HSBC, World Bank's IFC launch $1 billion trade finance programme for emerging markets HSBC and the World Bank's International Finance Corporation (IFC) will jointly provide funding to trade transactions valued at up to $1 billion, in a move to help fill a gap in financing for emerging market trade. IFC and HSBC said on Thursday they would equally share the risk on a portfolio of trade-related assets held by emerging-market banks in 20 countries in Africa, Asia, Latin America, and the Middle East, according to a joint statement. The deal aims to support cross-border t...
HSBC, World Bank's IFC launch $1 billion trade finance programme for emerging markets
HSBC, World Bank's IFC launch $1 billion trade finance programme for emerging markets
Source: Reuters
2024-12-12 09:11:57 am