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A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,612.45 points on Thursday, down 4.77 points, or 0.18 percent, from the previous trading day. [NEWS1] Stocks ended lower Thursday over the gloomy outlook on inflation and concerns over aggressive monetary tightening. The won fell against the dollar. The Kospi lost 4.77 points, or 0.18 percent, to close at 2,612.45. Trading volume was light at 583.60 million shares worth 8.48 trillion won ($6.69 billion), with decliners outpacing gainers 422 to 395. Institutional investors sold a net 155.8 billion won, while retail and foreign investors bought a net 95.6 billion won and 37.8 billion won worth of shares each. The index opened higher, tracking overnight gains on Wall Street, as the U.S. Federal Reserve's minutes of the early May meeting indicated some flexibility in its rate hike plans. But the market turned lower, after the Bank of Korea (BOK) raised the base interest rate by a quarter … [Read more...] about Stocks end lower over gloomy outlook on inflation

- A + A BENGALURU (May 26): Most emerging market stocks in Asia eked out gains on Thursday (May 26) on signs that the US Federal Reserve (Fed) could pause policy tightening later in the year, while regional currencies took a hit from concerns over slowing growth in China. Shares in Singapore led the region's markets higher with a gain of 0.8%, while stocks in Taiwan and India lost 0.8% and 0.6% respectively, and were the biggest losers. Minutes from the Fed's meeting this month showed the faith that the policymakers had in the strength of the US economy, helping lift the mood on Wall Street overnight. But the sentiment was more cautious in Asia which faces risks of capital outflows due to interest rate hikes by global central banks to tame decades-high inflation. The region's currencies were broadly lower, with the Chinese yuan weakening the most with a 0.7% slide as investors digested comments from Chinese Premier Li Keqiang's in a rare nationwide meeting. … [Read more...] about Most Asian stocks rise after Fed minutes; China growth woes hit currencies

- A + A TOKYO (May 26): The dollar hovered near a one-month low on Thursday as minutes from the Federal Reserve's May meeting confirmed the potential for a pause in rate hikes after likely further increases in June and July. The dollar index - which measures the currency against six major peers - edged 0.1% higher to 102.15 as a decline in Asian equities fostered demand for safe havens like the greenback. However, the index has mostly been consolidating around 102 after a short-lived bounce to 102.45 immediately following Wednesday's release of the minutes. Analysts said there was nothing to suggest a further ramp up of the Federal Open Market Committee's already hawkish stance. Wall Street rallied overnight on that outlook, while long-term Treasury yields held steady. Atlanta Fed President Raphael Bostic had already suggested earlier this week that a pause might be the best course of action in September to monitor the effects on the economy following two more … [Read more...] about Dollar near one-month low as Fed minutes point to rates pause

It’s not just the iPhone that killed the iPod, music streaming was the body blow. “Here lies the iPod that changed the way we listen to music and altered the music industry forever. It will be missed by music lovers across the world, particularly millennials. You were a trailblazer and made significant contributions to the legitimate music industry; you also reversed the fortunes of our parent – Apple. You began your journey with a promise – of 1000 songs in your pocket and you did better than that. Thank you for being the big brother that I could look up to. I owe a lot of my success to your hard work and will continue to bring this family more glory and fortunes.” Your kid brother – the iPhone. In many ways this obituary was set in motion on January 9, 2007, when Steve Jobs unveiled the first iPhone (it was officially launched in June that year). Many of us still remember the moment when he referred to Apple’s new iPhone as an “iPod, a phone and an internet communicator”. … [Read more...] about RIP iPod, you changed the way we listen to music

Carlton House Terrace overlooks The Mall and St James’ Park in London. The Hinduja brothers now occupy Nos 13-16 in the eastern terrace. (Photo: Danish Khan) In 2006, the Hinduja brothers bought 13-16 Carlton House Terrace for £58 million. They spent another £50 million on renovating the 67,000 sq. ft home which was formally opened in 2011. Over 300 people were invited to the housewarming party, but it was a few more years before the Hindujas moved in completely. The family was reluctant to leave their more modest 25,000 sq. ft abode - just opposite Carlton House Terrace - where they had lived for over 30 years. The four brothers Srichand, Gopichand, Prakash and Ashok who control the Hinduja Group do believe in lucky charms. But now the 25-bedroom property, which comprises four interconnected six-storey Georgian Houses, designed by architect John Nash with its classical cornices, French polished timber, and ceiling roses is where they host the high and the mighty. It is easy … [Read more...] about Hinduja brothers’ new London home has a historical link to Buckingham Palace

Abdul Aziz Kozgar, 66, at the 102-year-old Arq-I-Gulab Waan shop in downtown Srinagar. (Photo: Irfan Amin Malik) The downtown area of Srinagar city houses a rose water shop that is more than a century old. Locally known as Arq-I-Gulab Waan, it is the only surviving rose water distillery in Kashmir Valley, situated only a few steps from the famous Khanqah-e-Moula shrine. The smell of roses fills the air in Fateh Kadal locality as the shop owner Abdul Aziz Kozgar, 66, sells several litres of rose water daily in unlabelled plastic containers that aren't pre-filled or stamped. The light grey-bearded Kozgar does not talk much, and mostly remains busy with his customers. “A litre of traditionally-made rosewater is sold just for Rs 45, due to which it has attracted young and old customers,” says Kozgar unsmilingly. Apart from locals, a good number of foreign tourists have been visiting this historical shop which carries 500 years of Kashmir’s legacy. Inside the wood-and-brick … [Read more...] about This 102-year-old shop in Kashmir is still making rose water the traditional way, with Koshur gulab

Emotions are energy in motion. Without them, we wouldn’t feel compelled to act, create, or move an inch. This is why they are so vital, not just in our personal lives, but also in the workplace. A company’s formal organizational structure is always invisibly overlaid with an informal network of relationships fueled by emotions. advertisement advertisement Studies show us that emotions impact how we perform, lead, make decisions, innovate, and commit to our organizations. Recent research from Wharton management professor Michael Parke indicates that expressing emotions in the workplace among teams results in their enhanced ability to solve problems and generate ideas. Toxic positivity is forcing us to fake it And yet, showing emotions at work, especially the more complicated ones, still seems inconceivable for many managers. Some fear losing face or authority, while others think they’ll be perceived as soft or weak. For many of us, … [Read more...] about Why we need ’emotional diversity’ at work right now

Parcels are left in front of a door. In Korea, packages are left generally outside to avoid unnecessary contact during the Covid-19 pandemic. [SHUTTERSTOCK] Leave a package on your doorstep in Korea and see what happens — nothing, it will still be waiting for you untouched a week later. The idea that parcels can be left outside unattended without any risk in Korea isn't new, but the practice has increased dramatically during the Covid-19 pandemic as companies ditched direct deliveries. Delivery workers no longer ring people’s doorbells and hand over packages. Instead, most e-commerce and logistics companies including Coupang, CJ Logistics, Hanjin Transport and Lotte Global Logistics have changed to a contact-free delivery system. Simply leaving packages on people’s doorsteps means the delivery is finished, limiting unnecessary contact that might spread Covid-19. Other countries have changed their delivery policies during the pandemic, but their solutions aren’t as simple as … [Read more...] about [WHY] Is it really safe to leave valuables lying around in Korea?

Without the iPod, we may have never known the iPhone. And yet, it was the iPhone that absorbed the iPod whole and relegated it to the category of tech you would maybe only want, never again strictly need. (Representational image: Insung Yoon via Unsplash) Back in 2006, I was given my first iPod: The first-gen iPod Nano. It was my father’s gentle way of creating a diversion from my blinkers-on desire for a Moto Razr that all us college kids were hopelessly infatuated with. And it worked. Like millions, the iPod was my first brush with an Apple device - this was the third iteration of the iPod, after iPod Classic and the iPod Mini - and I was instantly enamoured. Unboxing was not a thing back then, nor was ASMR – but ripping that plastic off this black box was deeply satisfying. The click wheel! The tiny colour display! The possibility of carrying 500 songs (mine was the budget 2GB version) and photos everywhere! All in a device so slim and tiny it fits into that little pocket … [Read more...] about The iPod and my musical education

Technology dates our anecdotes. (Image: Brett Jordan via Unsplash) iPods are bidding goodbye. They will follow the Walkman into the great heaven for obsolete technology and machinery. There they will be with cameras, wristwatches, telegrams and STD calls, smirking at the arrogance of iPhone 13, Fitbits and Smart TV. Like all formerly trendy apparatus, they know that every gadget is mortal. The end is nigh, sooner or later. We remember with a nostalgic pang the time iPods first came into our lives over two decades ago. Suddenly music was directly in our ear. We could listen to songs in a way we never could before; they travelled with us, went on forever and sang only to us. Like having a personal orchestra! From LP records to tape recorders and CDs, it’s been a bumpy ride for music lovers. And iPods changed all that. Just like that. One fine day. Of course, such is life. We’ve had to say ta-ta to black and white TV sets and refrigerators that wheezed loudly as if on life … [Read more...] about Swansong of the iPod