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Politics
South Korea backs shifting Indonesia’s capital to East Kalimantan
Jakarta: South Korea has lent its support to moving the capital of Indonesia from Jakarta to East Kalimantan. “I think we should look at the most important reason behind President Joko Widodo’s decision on the transfer of the capital city,” South Korean Ambassador to Indonesia Kim Chang- beom told…
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Business
South Korea unveils record high budget for 2020
Sejong: South Korea on Thursday proposed a record 513.5 trillion-won ($423.7 billion) budget for 2020 to boost its slowing economy beset by a deepening U.S.-China trade row and more recently its own with Japan. The expansionary budget – endorsed by the Cabinet – represents a 9.3 percent hike from 2019…
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Business
Seoul to spend $4.1 billion for parts, materials industries amid trade row with Japan
Seoul: South Korea plans to inject more than 5 trillion won ($4.1 billion) into its support of the local parts and material industries by 2022 in a bid to tackle Japan’s export curbs against the South, cut dependence on Japanese imports and boost localization, the industry ministry said Wednesday.…
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Business
Indonesia not a waste disposal site for developed countries: Minister
Bogor: Indonesia should not turn into a waste disposal site for developed countries, Environment and Forestry Minister Siti Nurbaya has said. “It does not mean that we reject imports of paper and plastic scrap. The problem is that these imports were contaminated by illegal waste, such as used diapers,…
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Politics
Malaysia, Vietnam discuss new opportunities, strengthening cooperation
Hanoi: Malaysia and Vietnam agreed to strengthen cooperation and look for new economic opportunities to reduce trade imbalance between the two ASEAN countries. In a joint media conference, Malaysian Prime Minister Dr Mahathir Mohamad and Vietnamese Prime Minister Nguyen Xuan Phuc said both countries agreed to strengthen strategic cooperation in…
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Business
Samsung stays South Korea’s top brand despite value drop
Soul: Samsung Electronics Co. remains by far the most valuable brand in South Korea despite a drop in its brand value, a report said on Tuesday. Samsung Electronics, the world’s No. 1 memory chip and smartphone maker, topped the list of 50 leading brands in Asia’s fourth-largest economy with…
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Politics
South Korean President to visit Thailand, Myanmar, Laos next week
Seoul: South Korean President Moon Jae-in plans to make a tour of Thailand, Myanmar and Laos as part of his key diplomatic initiative of strengthening Seoul’s partnerships with Southeast Asian nations, Cheong Wa Dae said Sunday. With the weeklong trip to begin September 1, Moon will fulfill his promise…
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South Asia
Pakistan probes its citizens holding properties in UAE
By Nasir Aijaz AsiaN Correspondent Islamabad: Pakistan’s top tax regulator has sought details from the United Arab Emirates (UAE) authorities of thousands of Pakistani nationals who have acquired “Iqama” (residential/work permit). In a letter to the UAE Ministry of Finance, the Federal Board of Revenue (FBR) said it was…
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Politics
Cooperation, energy to top Turkmenistan’s priorities as it chairs CIS
Ashgabat: Increasing the level of cooperation with international organizations, including the United Nations and Organization for Security and Co-operation in Europe, and creating conditions for enhancing trade and economic cooperation will top the priorities of Turkmenistan as it chairs the Commonwealth of Independent States (CIS) starting October. Turkmenistan’s concept of…
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Politics
Boao Forum for Asia Ulaanbaatar Conference in Mongolia to boost common development
Ulaanbaatar: The Boao Forum for Asia (BFA) (BFA) Ulaanbaatar Conference to expand cooperation between Mongolia and China and advance common development in Asia and beyond has concluded. The forum, held for the first time in Mongolia, aims at helping the Chinese entrepreneurs better understand the business environment and related…
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