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Business

[AJA Global Report] Asian Alternative for Polish Apples

The Russian embargo on Polish fruits and vegetables created great panic among Polish fruit farmers. Especially apple exporters are afraid of the new laws, that cause them to look for a new market for over 700 000 fruits. Even Polish government launched special campaign “Eat Polish Apples” trying to raise…
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East Asia

S. Korean economy strong against global risks

By Joel Lee South Korea’s economy will stay firm against global financial risk factors with strong fundamentals in foreign currency loan and liquidity position, the nation’s integrated financial regulator Financial Supervisory Service (FSS) projected Thursday. Korea’s foreign exchange reserves is the world’s 7th largest, with a 29-months record streak of…
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East Asia

S. Korean economy up 0.5 pct in Q2: BOK

By Joel Lee South Korea’s economy expanded a seasonally adjusted 0.5 percent in the second quarter (Q2) from the first (Q1), supported by manufacturing growth, revised data by the Bank of Korea (BOK) showed Thursday. The figure is slightly lower than the July estimate of 0.6 percent growth. Korea’s gross…
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East Asia

S. Korean conglomerates boost R&D spending, cut facility

By Joel Lee South Korea’s top conglomerates boosted spending on research and development (R&D) as a future growth strategy, while trimming down on capital investments in first half characterized by low consumer spending and exports. 167 listed non-financial firms belonging to the country’s 30 largest business groups poured 16.2 trillion…
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East Asia

Samsung Heavy and Engineering to merge in succession move for new Lee heirs

By Joel Lee South Korean conglomerate Samsung Heavy Industries announced its plan on Monday to absorb Samsung Engineering in a $2.5 billion merger and acquisition process to be completed by Dec. 1. The stock exchange ratio has been set at 2.36 shares of Samsung Engineering per one Samsung Heavy…
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East Asia

Korea shipbuilding companies take the lead

Korea’s shipbuilding companies reclaimed the number one spot beating China. As of 12, according to CLAKSONS Research, international research institution, said domestic shipbuilding companies’ amount of order is 1.399 million CGT (Compensated Gross Tonage) which exceeds the amount of order for Chinese companies (1.223 million CGT) An official from the…
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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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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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