Why north and south korea split

By JILL LAWLESS and JOSEPH WILSON MADRID (AP) — Turkey agreed Tuesday to lift its opposition to Sweden and Finland joining NATO, a breakthrough in an impasse clouding a leaders’ summit in Madrid amid Europe’s worst security crisis in decades triggered by the war in Ukraine. After urgent top-level talks, alliance Secretary General Jens Stoltenberg said “we now have an agreement that paves the way for Finland and Sweden to join NATO.” Russia’s invasion of Ukraine has prompted Sweden and Finland to abandon their long-held nonaligned status and apply to join NATO. But Turkish President Recep Tayyip Erdogan had blocked the move, insisting the Nordic pair change their stance on Kurdish rebel groups that Turkey considers terrorists. Finnish President Sauli Niinistö said the three countries’ leaders signed a joint agreement after talks on Tuesday. Turkey said it had “got what it wanted” including “full cooperation … in the fight against” the rebel groups. The agreement comes at … [Read more...] about Turkey lifting objections to Sweden, Finland joining NATO

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

- 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

- 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

New York (CNN Business) The coronavirus pandemic has forced everyone to get creative. Whether through Zoom meetings , online fitness classes or take-out cocktails , companies in nearly every industry are pivoting to get through the crisis. Some work-arounds have been especially creative, such as individual exercise "pods" to get people back into gyms. But beyond short-term fixes, many innovative new strategies and business models have emerged that are likely to stick, even as many jurisdictions begin to reopen in some capacity. In many cases, these transformations are thanks to the increased adoption of technology and the digitization of businesses. Many of these changes were underway pre-coronavirus; the pandemic has just accelerated them. "What's important to customers has changed," John Roese, Dell ( DELL ) Technologies chief technology officer , told CNN Business. "We've broken through a bunch of psychological or … [Read more...] about Here are some of the creative new business models and strategies that have come out of the coronavirus pandemic

The Supreme Court of the United States has handed down a bevy of decisions in the past week as it nears the end of its term and prepares to adjourn for summer recess. advertisement advertisement The court’s latest decision , posted Monday morning, rules that a high school football coach was exercising a constitutional right in praying on the field after games, in a case that could erode the separation of church and state across the country. The case centers on Joseph Kennedy, an assistant coach at a public high school in Bremerton, Washington, a small community outside of Seattle. For eight years, Kennedy would routinely pray at the 50-yard line immediately after games—often joined by student athletes, who would surround him, heads bowed, at the field’s midway mark. After an opposing coach commented on the practice at one of these games, the Bremerton School District warned Kennedy not to pray if it would involve students. A clash followed over … [Read more...] about In other SCOTUS news: Supreme Court ruling boosts school prayer

Image: Instagram/@kylieverzosa Kylie Verzosa joked about being in search of a “groom” as she showed herself in the wedding dress she wore at a recently held bridal show. The actress-beauty queen treated fans to a glimpse of her backstage preparations as well as a closer look at her dress, through her Instagram page yesterday, June 27. Verzosa graced the runway donning an embellished mermaid gown by designer Julianne Syjuco. “What a dream. Closed the show for [Julianne Syjuco] for [Marry Me at Marriot],” Verzosa said. “Hot girl summer is getting married. Groom na lang po kulang po, opo (Only the groom is missing, yes).” View this post on Instagram A post shared by Kylie Verzosa (@kylieverzosa) View this post on Instagram A post shared by Kylie Verzosa (@kylieverzosa) Verzosa also showed more snaps from the event while seemingly appreciating the experience of … [Read more...] about Kylie Verzosa stuns in bridal gown: ‘Groom na lang po kulang’

FILE PHOTO: A medical worker takes care of a patient suffering from the coronavirus disease (COVID-19), inside the Intensive Care Unit (ICU) ward at the Government Institute of Medical Sciences (GIMS) hospital, in Greater Noida on the outskirts of New Delhi, India, May 21, 2021. REUTERS/Adnan Abidi/File Photo NEW DELHI — India’s information technology (IT) ministry has written to all social media companies asking them to take down any content that refers to an “Indian variant” of the coronavirus, according to a letter issued on Friday which was seen by Reuters. The World Health Organization said on May 11 that the coronavirus variant B.1.617, first identified in India last year, was being classified as a variant of global concern. The Indian government a day later issued a statement saying media reports using the term “Indian Variant” were without any basis, saying the WHO had classified the variant as just B.1.617. In a letter to social media companies on Friday, the IT … [Read more...] about India asks social media firms to remove reference to ‘Indian variant’ of coronavirus