Ssangyong Engineering & Construction has won a 35 billion won ($31 million) deal to build a premium shopping center in Singapore, the latest boost to its growing presence in one of Asia’s hottest construction markets.The builder signed the contract with City Development Ltd., the largest property developer of Singapore, on Thursday. Ssangyong will design and construct a two-story luxury mall with

SEATTLE _ Apple Inc. CEO Steve Jobs, the charismatic frontman for the company that overturned the smart phone industry and invented a new category of tablet computers, is taking a second medical leave of absence in two years.In the last decade, Jobs, 55, has survived a rare but curable form of pancreatic cancer and undergone a liver transplant. The news that he will again step down from his day-to

GS Caltex Co., Korea‘s second-largest refiner, said Monday that it had shut down all of its crude distillation units and its No.1 residue fluid catalytic cracker in the southern part of the country due to power failure. Power at the Yeosu complex was cut off at 4:10 p.m. local time and resumed 23 minutes later, according to the official“The affected facilities could not restart within today, thoug

Korea’s civil servants have been ordered to do their public duty by switching off the heating and donning long johns as the severe cold puts a strain on power resources, officials said Monday. In an emergency energy savings plan, all ministries and state-run companies have been told to turn off the heating from 11:00 am to noon and 5:00-6:00 pm, the Knowledge Economy Ministry said. Government buil

Banking regulators across the globe need to introduce marco-prudential measures, including a bank levy, in a bid to enhance soundness of the economy and the financial system, an expert said Monday.“New bank capital rules called BASEL III can be considered an outcome from an agreement on micro-prudential measures. But there has been not enough agreement on macro-prudential tools so as to enhance th

DETROIT (AFP) ― Korean automakers Hyundai and Kia made a strong showing at this year’s Detroit auto show, turning heads with new models and vowing to build on last year’s gains.Both Kia and Hyundai ― which share manufacturing and engineering facilities but sell their vehicles separately in the U.S.― are looking for more growth this year after setting sales records in 2010, with Hyundai having fini

MOSCOW (AFP) ― It is a company with a stake in Facebook, the leading position in one of the world’s fastest-growing Internet markets and a listing on the London Stock Exchange.But this is not a firm from Silicon Valley or a high-tech Asian economy. It is from Russia, in recent years not a place known for cutting-edge corporate innovation.While President Dmitry Medvedev ploughs on with his state-sp

Hwang Chang-gyu, head of Ministry of Knowledge Economy’s Strategic R&D Planning office, has been chosen as one of the three speakers for a conference to be held during German IT exhibition CeBIT from March 1 to 5, the organizers of the event said Monday. Hwang Chang-gyuThe former Samsung Electronics chief, who was appointed to the government post early last year, is the first Korean to give a spee