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Business
[AJA Global Report] Algeria’s economy and the gap between resources and achievements
Algeria is the largest country in Africa in terms of surface area, the tenth in the world. It has the third largest oil reserves in Africa after Nigeria and Libya, where its proven oil reserves is estimated at 12.2 billion barrels. It also has the second largest reserves of natural…
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East Asia
DAEWOO E&C’s operating profit increased
DAEWOO E&C’s operating profit is 222.5 billion won which is 2.2% increase. DAEWOO E&C’s operating profit for the first half year is over 200 billion won. As of 25th, according to statement of accounts for the first half year, the total sales of the company is 4.58 trillion won. Operating…
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East Asia
Pantech’s new opportunity
Three wireless/mobile service providers (SK Telecom, KT Corporation and LG Uplus) decided to delay Pantech’s repayment schedule for 2 years. This will help Pantech to earn some time to normalize its financial situation. Three providers released the press release together in 24th saying that they will postpone Pantech’s repayment schedule…
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Column
Korean Central News Agency and ‘Comrade Mr Miller’
In April 2014, North Korean border guards at Pyongyang international airport were treated to an unusual sight: a 24 year old American named Matthew Todd Miller tore up his North Korean tourist visa and submitted his American passport while requesting an asylum in North Korea. This event was promptly reported…
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East Asia
Oil money rushing into Korean stock market
Recently, oil money has been rushing into Korean stock market. According to Financial Supervisory Service as of 23, foreign investors bought 2.79 trillion won worth Korean stocks. They sold 3.18 trillion won worth stocks for the first quarter, but in the second quarter, they turned into net buyers by purchasing…
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East Asia
Hyundai Engineering and Construction Co. won new contract from Singapore firm
Hyundai Engineering and Construction Co. in 22th revealed that the company formed a consortium with other companies such as Samsung C&T and Japan’s Penta-Ocean Construction and won $775 million worth contract in Singapore. JTC Corporation, a Singapore’s public company, ordered this contract. This contract is a project about constructing a…
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East Asia
Demand for Korean cosmetics increases rapidly in Asia
Due to the popularity of Korean wave ‘Hallyu’ such as K-POP, cosmetics made in South Korea are selling very well. According to KOREA CUSTOMS SERVICE as of 22, monthly sales of cosmetics on June are $152 million which is the highest since January, 2000. By countries, China bought $44.8 million,…
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East Asia
Hana Financial Group done well in the first half
Hana Financial Group’s net profit for the first half year increased by 91.2 billion won or 17.6% increase compared to the same period in the last year. Hana Financial Group in 18th announced that its net profit for the second quarter is 417.4 billion won and the total net profit…
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East Asia
Korean Air heiress becomes Children’s book writer.
Cho, Hyun-Min, the executive vice president of Korean Air and Cho, Yang-ho (Hanjin Group chairman)’s daughter, published a children’s storybook on Wednesday. The book’s title is ‘Jini’s Dazzling World Adventure – Okinawa, Japan.’ The main character is Jini, a 12-year old girl who wants to be a flight attendant. She…
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East Asia
Accumulated earnings of Samsung and Hyundai Motors increased more than double.
Accumulated earnings of ten biggest conglomerates in Korea are doubled in 5 years. CEO SCORES, the website that evaluates company’s manageability, released the new report evaluating 10 biggest conglomerates and their 81 listed companies. The report stated that the total accumulated earnings of following companies were 515.9 trillion won. This…
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