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South Korea's Hyundai Motor said on Tuesday its first-quarter net profit jumped 92 per cent from a year earlier on increased production and an improved product mix. Net profit for the three months ended in March rose to 3.42 trillion won ($2.56 billion) from 1.78 trillion won during the same period of last year, the company said in a statement. The net result was buoyed by increased vehicle production amid improving chip supplies, robust sales of high-margin SUVs, and the won's ...
Hyundai Motor`s Q1 net jumps 92% on SUVs, increased production
South Korea's consumer prices grew 5.1 per cent on-year in 2022, accelerating from a 2.5 per cent gain in 2021, marking the steepest on-year rise since 1998, when consumer inflation spiked 7.5 per cent in the wake of the Asian financial crisis, government data showed Friday. According to the data compiled by Statistics Korea, the 2022 reading came in line with the government's previous estimate, reports Yonhap news Agency. South Korea has been grappling with inflation following ...
S.Korea`s consumer price growth hits 24-yr high
As India embarks on its e-rupee journey, central banks of other countries are not behind and have kicked off plans for their own digital currencies to help people invest in safer instruments and not fall for highly volatile cryptocurrencies like Bitcoin. Over 100 countries, including India, are exploring or piloting Central Bank Digital Currencies (CBDCs), a digital form of a country's sovereign currency. Among the G20 countries, 19 are exploring a CBDC, with 16 already in t...
Over 100 countries exploring their own digital sovereign currencies
South Korea's consumer prices rose at the fastest pace in almost 24 years in July mainly due to high energy and food prices, official data revealed on Tuesday. Consumer prices soared 6.3 per cent last month from a year earlier, accelerating from a 6 per cent on-year spike in June, according to the data from Statistics Korea. It marked the sharpest on-year increase since November 1998, when consumer inflation jumped 6.8 per cent. The inflation rate stayed in the 6 percent range for t...
South Korean inflation at nearly 24-yr high
The outlook for the global economy has "darkened significantly" in recent months, the head of the IMF has warned, and the world faces an increasing risk of recession in the next 12 months, The Guardian reported. The commodity price shock from the war in Ukraine had exacerbated the cost-of-living crisis for hundreds of millions of people, Kristalina Georgieva said and it was "only getting worse". Inflation was also higher than expected, she said in a blogpost that cam...
World faces increasing risk of recession in next 12 months, IMF says
South Korea's foreign currency trading hit a record high last year owing to the expanded trade and increased investment in securities, central bank data showed on Wednesday. The daily average trading of foreign currencies and foreign exchange derivatives, made by foreign exchange banks, came in at $58.3 billion in 2021, up 10.3 per cent from the previous year, according to the Bank of Korea (BOK). It has marked the highest since data began to be compiled in 2008. The record transact...
South Korea's foreign currency trading hits record high in 2021
South Korean banks' household loan kept growing last month as the policy rate remained at a low level, central bank data showed Wednesday. Debt, owed by households to banks, reached 1,046.3 trillion won ($897.9 billion) as of the end of August, up 6.2 trillion won ($5.3 billion) from a month earlier, Xinhua news agency reported, citing the Bank of Korea (BOK). It was down from an increase of 9.7 trillion won ($8.3 billion) in July, but the household debt continued to rise amid the s...
South Korean banks' household loan keeps growing in August
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