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South Korea: Oil refineries loss due to COVID-19 has reached KRW5 trillion in 2020

Jan 04, 2021 10:56 am UTC| Economy

The whole world is still fighting the coronavirus pandemic and while many counties were able to deal with the crisis, it still has negative effects that cannot be easily repaired. For instance, the economy has suffered and...

S. Koreans gulp down imported wine at record pace

Jan 04, 2021 02:03 am UTC| Business Economy

South Korea imported a record-high US$239 million worth of wines from January to November, much higher than the $204 million for the whole of 2019 as more people drank and partied at home due to the pandemic. If the...

Malaysia to compensate Singapore $125.7 million for costs on scrapped high-speed railway project

Jan 03, 2021 23:20 pm UTC| Economy

Malaysia may have to pay as much as $125.7 million for costs already incurred by Singapore for a high-speed rail line after the two countries scrapped the project due to disagreement on Malaysias proposed changes. The...

S. Korea's exports drop by 5.4% to $512.8 billion in 2020

Jan 02, 2021 23:45 pm UTC| Economy

South Korea posted exports worth $512.8 billion in 2020, representing a 5.4 percent on-year plunge amid the pandemic, based on data compiled by the Ministry of Trade, Industry, and Energy. According to Industry Minister...

Tax-evasive Indian soft drink companies forced to shift to 40% rate

Jan 02, 2021 05:37 am UTC| Economy

Some soft drink companies in India will shift to the 40 percent tax rate after being found unqualified for the 12 percent tax bracket reserved for fruit pulp or juice. In August, regional beverage companies were placed...

Ford, Mahindra cancel India joint venture due to changing economic conditions

Jan 02, 2021 00:44 am UTC| Business Economy

Mahindra Mahindra and Ford Motor Company have been called off their much-awaited joint venture in India due to significant changes in the global business environment caused by the pandemic. The two carmakers have...

US slaps tariffs on French and German wines, aircraft parts for unfair EU treatment

Jan 01, 2021 22:54 pm UTC| Economy

The US would slap additional taxes on certain EU products, including aircraft components and liquor from France and Germany, in response to the EUs unfair tariffs against it. The Office of the US Trade Representative...

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Economy

RBI Holds Interest Rates Steady Amid Middle East Tensions and Global Uncertainty

The Reserve Bank of India (RBI) kept its benchmark interest rate unchanged at 5.25% during its latest policy meeting, a decision that aligned with market expectations. Governor Sanjay Malhotra acknowledged the resilience...

Xi Jinping Pushes Demand-Driven Strategy to Modernize China's Service Sector

Chinas President Xi Jinping has outlined a bold strategy to transform the countrys service industry, calling for a demand-led approach supported by structural reform and technological innovation. The directive was reported...

Trump Suspends Iran Strikes for Two Weeks as Ceasefire Talks Begin

President Donald Trump announced Tuesday evening that he would delay planned military strikes against Iran for two weeks, marking a significant diplomatic breakthrough after weeks of escalating tensions. The suspension...

U.S. Stock Futures Surge as Trump Postpones Iran Strikes, Ceasefire Hopes Rise

U.S. stock index futures climbed sharply on Tuesday evening as optimism grew over a potential end to the ongoing Middle East conflict. The rally followed President Donald Trumps announcement that planned military strikes...

Oil Prices Crash 15% as Trump and Iran Agree to Two-Week Ceasefire

Crude oil markets were thrown into a frenzy on Wednesday after U.S. President Donald Trump announced a two-week ceasefire with Iran, triggering one of the sharpest single-day oil price drops seen in recent memory. The...

Politics

Trump Announces U.S. Military Presence in Strait of Hormuz Following Iran Ceasefire Deal

President Donald Trump announced Wednesday that the United States will actively support the flow of maritime traffic through the Strait of Hormuz, one of the worlds most strategically critical waterways. Speaking publicly,...

U.S. Automakers Push Back Against EU Rules Blocking American Trucks from European Market

American automobile manufacturers are raising alarms over what they describe as deliberate European Union barriers preventing some of their most iconic and best-selling pickup trucks from entering the European market....

ICE Officer-Involved Shooting in Northern California After Suspect Rams Vehicle

Immigration and Customs Enforcement officers shot and wounded a man in Patterson, California, on Tuesday after he allegedly attempted to use his car as a weapon against agents during an enforcement operation. ICE Acting...

Trump Claims "Total and Complete Victory" After U.S.-Iran Ceasefire Agreement

President Donald Trump declared a sweeping American victory on Tuesday following the announcement of a two-week ceasefire agreement with Iran, describing the outcome as a 100 percent win for the United States. Speaking...

World Reacts as Trump Issues Dire Warning to Iran Ahead of Surprise Ceasefire

Global leaders, lawmakers, and even members of Donald Trumps own Republican Party pushed back sharply after the U.S. president issued a sweeping threat suggesting an entire civilization could be destroyed unless Iran...

Science

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

Technology

U.S. Disrupts Russian Military Hackers' Global DNS Hijacking Network

The U.S. Justice Department has successfully executed a court-authorized operation to dismantle a DNS hijacking network tied to Russian military intelligence. The network was run by GRU Military Unit 26165, a cyber unit...

Samsung Electronics Posts Eightfold Profit Surge Driven by AI Chip Demand

Samsung Electronics delivered a stunning financial turnaround in the first quarter of 2025, projecting operating profit of approximately 57.2 trillion won (roughly $38 billion) a more than eightfold increase compared to...

China's Push to Steal Taiwan's Chip Technology and Talent Raises Security Alarms

Taiwans National Security Bureau has raised serious concerns about Beijings escalating efforts to infiltrate the islands world-class semiconductor industry. According to a report submitted to Taiwanese lawmakers, China is...

Apple's Foldable iPhone Faces Engineering Setbacks, Mass Production Timeline at Risk

Apples highly anticipated foldable iPhone is running into significant engineering hurdles during its test phase, raising concerns about potential delays in both mass production and product shipments, according to a report...

Britain Courts Anthropic Amid US Defense Department Dispute

The United Kingdom is actively working to attract Anthropic, the company behind the popular Claude AI app, to expand its footprint in the country. This diplomatic push comes as Anthropic finds itself in the middle of a...