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Business
Oil prices decline on growing US drilling activity
Oil prices dropped this Monday morning in Asia following a three-day Easter break as investors digest North Korea’s failed missile launch. As of 14:28 (MSK), WTI Oil was down 46 cents or 0.86% at $52.72 per barrel. Brent Oil was down 48 cents or 0.86% at $55.41 per barrel. Investors…
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East Asia
What’s at stake for Saudi-East Asian relations?
Saudi Arabia’s King, Salman bin Abdulaziz Al Saud, accompanied by a large delegation including royal family members and ministers, paid a month-long visit (that started from the end of February) to East Asian-Pacific countries, including Malaysia, Brunei, Indonesia, Japan, and China. It is rare in Saudi diplomacy to have such…
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East Asia
Korean automobile industry set to re-enter Pakistan market
A number of foreign automobile companies, including some from the Republic of Korea – Hyundai Motor Corporation, and KIA Motor Company among others, are keen on investing in setting up car assembling plants in Pakistan, a potential market with a member population of around 200 million. Both leading Korean automobile…
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West Asia
Economic relations with Russia overshadowed by renegotiation of gas transit
The dominant topic in Georgia’s foreign economic relations in recent months was the renegotiation of terms for Russia’s gas transit to Armenia. Moscow is using a pipeline running through Georgia north-south to supply Armenia with natural gas, with Tbilisi receiving ten percent of the gas transported through the pipeline as…
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South Asia
Pakistan and Korean Exim Bank sign loan agreement for IT park
The government of Pakistan and Korean Exim Bank signed loan agreement on Tuesday for a new information technology park in Islamabad. Total project cost is US $ 88.383 million including a loan of US $ 76.3 million from Korean Exim Bank under the Economic Development Cooperation Framework (EDCF) arrangement. Secretary…
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East Asia
Xi Jinping pledges continued efforts to promote trade and investment liberalization and facilitation
By Zhao Cheng from People’s Daily Chinese President Xi Jinping pledged on March 5 that China will persist in the all-round opening-up policy, and continue to liberalize and facilitate trade and investment, while urging Shanghai, a pioneer in China’s reform and opening-up, to act as a bridgehead. Xi made the…
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East Asia
Taste of strawberries
A new item in North Korean markets has recently become all the rage ― strawberries. The last two or three years have been marked by a proliferation of greenhouses, where North Korean farmers produce fruits once unheard of. The green house industry in North Korea is private, and its emergence…
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East Asia
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East Asia
High-end manufacturing is not leaving China for US
By Xing Xue(邢雪) from People’s Daily The high-end manufacturing is not leaving China, a renowned Chinese economist said in a contributed article published on People’s Daily Overseas Edition, refuting the claims that high-end manufacturing is flowing back to the US. The comments came after the “Buy American Hire American” pledge…
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East Asia
China’s government work report aims to boost people’s welfare
By Wan Yu from People’s Daily The government work report delivered by Chinese Premier Li Keqiang at the annual session of National People’s Congress, China’s top legislative body, on March 5 conveys positive messages in boosting people’s welfare. “The report has delivered a ‘bonus package’ in livelihood improvement,” Huang Shouhong,…
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