Fifth floor north korea

Treasury Secretary Janet Yellen testifies before the House Ways and Means Committee during a hearing on the 2023 on Capitol Hill in Washington, Wednesday, June 8, 2022. [AP] U.S. Treasury Secretary Janet Yellen will be visiting Korea on July 19 and 20. According to the U.S. Treasury Department and the Korean Finance Ministry, Yellen will be stopping in Japan on July 12 and 13 and attending the G20 finance minister and central bank governor meeting in Bali July 15 and 16 before arriving in Korea. On Tuesday, the ministry said Yellen will be meeting with Korean Finance Minister Choo Kyung-ho, the first between the two. They are to discuss economic and financial cooperation and the strengthening of multilateral arrangements. Yellen's visit comes at a time of global economy uncertainties, which have been affecting local financial markets and the value of the won. Korea stocks are down almost 20 percent this year, and the currency is off almost 15 percent. A currency swap with … [Read more...] about U.S. Treasury Secretary Janet Yellen to visit Korea in July

The price of Haepyo canola oil and pressed olive oil will increase by up to 20.8 percent from next month. Ottogi also recently raised the price of commercial cooking oil by 20 percent. Cooking oil, such as canola oil and olive oilm are on display at a large mart in Seoul on Tuesday. [YONHAP] A lighting manufacturing company is losing money on each sale after raw material prices jumped 60 percent. "As we can't raise the price on our products at the rate raw material prices have increased, we face huge losses with the more orders we get," the owner of the manufacturing company said. "I'm considering downsizing our factory as raw material prices will likely rise for a long time." A new survey by the Bank of Korea found that four out of every 10 companies said this year raw material prices have risen by more than 20 percent compared to last year. Two out of every 10 companies said they are considering changes to employment or reducing new business investments in response to … [Read more...] about Losing money on each sale, Korean companies cut back

Financial Supervisory Service building in Yeouido, western Seoul. [YONHAP] Assets of financial holding companies increased 7.4 percent in the first half compared to six months earlier as demand for loans rose, Financial Supervisory Service (FSS) data showed Tuesday. Total assets of the 10 financial holding companies increased 194 trillion won ($164 billion) to reach 2,823 trillion won. The 10 companies are KB, Shinhan, Nonghyup, Woori, Hana, BNK, DGB, JB, Korea Investment and Meritz Holdings. By categories, assets owned by investment firms grew the fastest — increasing 18.9 percent or 48.3 trillion won. This was due to an increase in the value of equities they hold and increases in deposits by retail investors for stock trading. Assets of commercial banks increased by 6.5 percent or 128.6 trillion won from a surge in loans. At credit card companies, assets grew by 7.1 percent or 10.3 trillion won from January to June. For insurance companies, assets increased by 3.7 percent … [Read more...] about Finance sector sees healthy rise in assets in first half

If you're looking for capitulation in 2022, it's in the bond market. And that tells you that investors' confidence in the global economy is very low. Inside the stock market, it's all about defense. Defensive stocks, which include big healthcare companies and dividend-paying value stocks, have been driving the gains. An index of global defensive stocks put together by Goldman Sachs, which is heavy in healthcare giants, has climbed to more than an 18-month high relative to the MSCI AC World Index. Inside the U.S., the defensive ETF ticker DEF has been outperforming the Spider ETF SPY all last week and all year. For market watchers, this feels a whole lot like a recession trade. While investors in the capital markets are battening the hatches for a recession, money in the private markets is also drying up. The value of venture capital deals in the U.S. dropped more than 25% in the second quarter to just $1 trillion, according to Dealogic . M&A activity in the United States … [Read more...] about What the Business Cycle is Telling us About a Recession

- A + A IPOH (June 28): The High Court here, which is scheduled to decide on the case of Tronoh state assemblyman Paul Yong Choo Kiong, who is charged with raping his maid, has postponed the matter to July 27. Deputy Public Prosecutor (DPP) Liyana Zawani Mohd Radzi, when contacted by Bernama , confirmed the matter. "Yes, the decision of the case has been postponed to July 27,” the DPP said, adding that the defence had requested to postpone the matter following the death of their client’s mother. It is learnt that Yong’s 83-year-old mother died on Saturday (June 25) at the Sungai Buloh Hospital due to heart failure. On March 31 this year, the defence closed their case after calling three witnesses, namely Yong, 52,  his wife Too Choon Looi, 46, and the maid’s uncle Muhammad Rusdi, 51. Yong is accused of raping the 23-year-old maid in a room on the first floor of his house in Meru Desa Park between 8.15pm and 9.15pm on July 7, 2019. The charge, framed under … [Read more...] about Decision on Paul Yong’s rape case postponed to July 27

- A + A BERLIN/BRUSSELS (June 28): Leaders of the world's most advanced economies have agreed to start a Climate Club in which members agree on joint rules and standards in the fight against global warming with the hope that it will avoid spats over green tariffs. The Group of Seven (G7) nations reached a deal on the issue at a three-day summit in Bavaria, Germany that ended on Tuesday. It is a significant achievement for German Chancellor Olaf Scholz, who has made better coordination on climate protection measures a key theme of his G7 presidency. "We note with concern that currently neither global climate ambition nor implementation is sufficient to achieve the goals of the Paris Agreement," the final G7 leaders said in a statement. The Climate Club will address that by "accelerating climate action and increasing ambition, with a particular focus on the industry sector". Scholz has argued that the Climate Club would help eliminate a chaotic patchwork of national … [Read more...] about G7 launches Climate Club in attempt to avoid green trade wars

G7 leaders gathering for lunch at the Schloss Elmau hotel in Elmau, Germany on Monday (June 27). The G7 leaders have also agreed to take a more coordinated approach to challenging China's 'market-distorting' practices in global trade. (Photo by Susan Walsh/Pool via Reuters) - A + A SCHLOSS ELMAU (June 28): The Group of Seven (G7) economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, they said on Tuesday. "We invite all like-minded countries to consider joining us in our actions," the G7 leaders said in the communique. The war in Ukraine and its dramatic economic fallout, in particular soaring food and energy inflation, has dominated this year's summit of the group of rich democracies at a castle resort in the Bavarian Alps. The G7 is looking at price caps as a way to prevent Moscow profiting from its invasion of Ukraine, which has sharply raised energy prices, taking the sting out of Western … [Read more...] about G7 agrees to explore cap on Russian oil price — communique

- A + A KUALA LUMPUR (June 28): Poh Huat Resources Holdings Bhd's net profit for the second quarter ended April 30, 2022 (2QFY22) jumped 81.75% to RM23.08 million from RM12.7 million in the same period last year, mainly driven by higher furniture shipments from Malaysia. Quarterly revenue grew 12.57% to RM186.34 million from RM165.53 million, as production activities for both the group's operations in Malaysia and Vietnam continued to do well on the back of sustained orders from its customers in North America. "In particular, our Malaysia operations registered strong growth compared to the previous year's corresponding quarter as we ramped up production to clear order backlogs following the resumption of production after MCO 3.0 (Movement Control Order 3.0). Our Vietnam operations also registered higher shipment, albeit at a more modest level," Poh Huat said. As such, its earnings per share almost doubled to 8.71 sen from 4.79 sen previously, its bourse filing … [Read more...] about After 82% jump in 2Q profit, Poh Huat sees signs of demand slowdown in US amid soaring prices

Like many companies, manufacturing technology firm Augury ditched its New York City office during the pandemic. With few people coming in, and most work able to be done remotely, paying rent on an empty office was a waste. advertisement advertisement But the need for an office didn’t go away completely, and now the company is fitting out a new space in the city. As it does, it’s fundamentally rethinking how the space will work by looking at who will actually be using it. To help guide the new design, the company surveyed its teams to understand how different departments expected to use the space, especially in a more hybrid work mode. “When we were talking about that, we started asking what kind of people will be there?” says Tiffany Millar, Augury’s workplace experience director. Home Away From Home The first persona is what Augury calls Home Away From Home, or people who live in the tristate area who may come into the office once or more per … [Read more...] about What does a hybrid office look like? This company has 5 ideas

Rafael Nadal of Spain reacts after losing a point against Juan Martin del Potro of Argentina. AP SHANGHAI — Top-ranked Rafael Nadal was eliminated in the semifinals of the Shanghai Masters on Saturday, losing 6-2, 6-4 to Juan Martin del Potro. The fifth-ranked Del Potro overpowered Nadal with his deep, punishing groundstrokes, breaking the Spaniard twice at the start of the match to race out to a 4-0 lead. The Argentine broke Nadal again to start the second set, and saved all six break points he faced to get his first victory over the Spaniard in four years. Del Potro will try to win his first Masters title on Sunday against top-seeded Novak Djokovic, who defeated Jo-Wilfried Tsonga in the other semifinal, 6-2, 7-5. Nadal was playing his first tournament since regaining the No. 1 ranking from Djokovic on Monday. Get the hottest sports news straight into your inbox … [Read more...] about Nadal ousted by del Potro in Shanghai Masters