Stocks on the move: Galp up 17%, Sartorius Stedim down 2.6% Shares of Portugal’s Galp Energia soared to a 16-year-high, rising 17% in morning trade after the oil and gas company announced positive prospects for its gas exploration project in Namibia. Meantime, shares of British biopharma firm Sartorius Stedim fell 2.6% as it struggled to pare … Read more
Tokyo — In North Korea, the release of Taylor Swift’s new double album was completely eclipsed by the surprise drop of another brand-new song, complete with an elaborately produced music video. There were no tortured poets in sight for the release of “Friendly Father,” an energetic pop-style piece of state propaganda praising North Korea‘s dictatorial … Read more
The US Trade Representative’s (USTR) office also initiated a probe into China’s maritime, logistics and shipbuilding industries, alleging that Beijing used “unfair, non-market policies and practices” to dominate these sectors. Henry Gao, a law professor at Singapore Management University, said he would not be surprised if China imposes countermeasures against the proposed tariffs through countervailing … Read more
The Bank of Korea will intervene to control currency volatility if needed, the central bank’s chief told CNBC, describing the recent market fluctuations as a little “excessive.” Central bank governor Rhee Chang-yong said external factors are fueling the Korean won‘s movement. “I think the recent movement is a little bit excessive judging from what we … Read more
Yoon’s diplomatic agenda revolves around strengthening alliances with the United States and fostering closer ties with Japan, criticising the previous liberal government for perceived leniency towards North Korea and excessive deference to Chinese economic coercion. With a hostile parliament now armed with a new mandate, analysts expect formidable hurdles for Yoon in implementing his presumed … Read more
South Korean voters could punish the ruling conservative party at the ballot box amid discontent over Yoon’s leadership. Voting is under way in South Korea in parliamentary elections seen as a referendum on President Yoon Suk-yeol amid frustration about the cost of living and corruption. Polls opened at 6am (19:00 GMT) on Wednesday and will … Read more
South Koreans will head to the polls on Wednesday to choose who will sit in the country’s 300-member parliament in a major political test of conservative President Yoon Suk-yeol. Yoon was elected leader two years ago with the slimmest margin of victory in any presidential election, defeating Lee Jae-myung of the Democratic Party by 0.73 … Read more
Economic losses in the Asia Pacific region soared to $65 billion due to natural disasters, mainly fueled by floods in China and droughts in India, as reported by insurance company Aon. Hadynyah | E+ | Getty Images Economic losses in the Asia Pacific region due to natural disasters soared to $65 billion in 2023, mainly … Read more
Washington’s efforts to divert international supply chains from China are already making enough of an impact to drive recommendations for a new game plan from analysts and manufacturers, in their view an essential step to counter a fragmentation of trade that is already under way – and likely to worsen in the coming years. “The … Read more
“We will also investigate this case thoroughly under this principle”, he said. Chung denied the allegations as “unilateral and groundless”. In a statement released last week, he said he would “restrain myself from further comments” pending the completion of the investigation. Chung, 64, is a former international relations professor at Seoul National University. He was … Read more
