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Business
Luxury fashion powerhouses rush into South Korean market
Seoul: When it comes to purchasing luxury and premium products and services, South Koreans are almost on par with other major countries. Indeed, South Koreans’ love for luxury goods is astonishing, and that’s why high-end brands, which are known to stick to their heritage and tradition, have recently taken new…
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Politics
Korea, Japan fail to narrow differences in trade talks
Geneva: South Korea and Japan failed to narrow their differences in a second round of talks Tuesday aimed at resolving their dispute over Tokyo’s export restrictions, Seoul’s chief negotiator said. The six-hour-long meeting was arranged as part of a dispute settlement process under rules of the World Trade Organization. South…
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Business
Airlines to cut fuel surcharges on international routes in December
Seoul: South Korean airlines will lower their fuel surcharges on international routes in December to mirror a fall in jet fuel prices, industry sources said Monday. The surcharges for one-way tickets on long-haul international routes will be capped at 37,700 won ($32.40) next month, down one notch from November. If…
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Politics
South Korea to build 30,000 smart factories to deal with demographic change
Sejong: South Korea will build 30,000 smart factories and 10 smart industrial zones by 2022 as part of efforts to deal with a looming decline of the country’s working-age population, the finance minister said Wednesday. Hong Nam-ki said the number of people working at smart factories and smart industrial zones…
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Politics
Moon views Busan summit with ASEAN as midterm review of New Southern Policy
Seoul: President Moon Jae-in on Tuesday emphasized the significance of two upcoming summits with Southeast Asian nations in Busan for his administration’s signature New Southern Policy, as he had a weekly Cabinet meeting at the venue in the southern port city. He pointed out that the ASEAN-Republic of Korea Commemorative…
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South Asia
South Korea finances establishing three hospitals in Pakistan
By Nasir Aijaz AsiaN Representative Karachi: The Republic of Korea on Monday agreed to provide a US$300 million soft loan for financing establishment of three hospitals in Pakistan’s southern Sindh province. In a meeting with Chief Minister Syed Murad Ali Shah at Chief Minister’s House in Karachi, the provincial capital,…
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Business
Emirates Group announces $320 million profit
Dubai: The Emirates Group said its revenue for the first six months of 2019-20 was $14.5 billion, down 2% from $ 14.8 billion during the same period last year. This slight revenue decline was due mainly to planned capacity reductions during the 45-day Southern Runway closure at Dubai International airport…
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Politics
Mahathir: If they do something not nice to us, we have to be un-nice to them
Bangkok: When Dr Mahathir Mohamad spoke at a dialogue session at the ASEAN Business and Investment Summit (ABIS) last Saturday on the sidelines of the just concluded 35th ASEAN Summit here, he called for the 10-ASEAN nations to speak with one voice on the global stage to avoid being bullied,…
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Politics
ASEAN, Bahrain partnership maturing through Treaty of Amity and Cooperation
By Habib Toumi Manama: What does in an international treaty with ten countries mean? A lot. stronger relations, common approaches, closer strategic dimensions, mutual benefits and support at various levels and lucrative economic deals, to cite just a few. The Treaty of Amity and Cooperation (TAC) signed by Bahrain on…
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Politics
Bahrain accedes Treaty of Amity and Cooperation in Southeast Asia
By Habib Toumi Bangkok: Bahrain signed the Instrument of Accession to the Treaty of Amity and Cooperation in Southeast Asia (TAC) in Bangkok. Minister of Foreign Affairs Shaikh Khalid bin Ahmed Al Khalifa who signed on the accession treaty behalf of Bahrain expressed gratitude to Thailand for the invitation to…
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