The Korea Herald

[Graphic News] 10 years of iPhone

Jun 29, 2017

Apple's iPhone celebrates its 10th anniversary this week. Ten years after the iPhone debuted on June 29, 2007, the smartphone that started it all is still going strong. The iPhone has changed the way millions of users connect, communicate and work. From the latest sales, the smartphone has sold well over 1 billion units worldwide.
Yellen: No new financial crisis in 'our lifetimes’

Jun 28, 2017

LONDON -- Federal Reserve Chair Janet Yellen relayed her hope that another repeat of the financial crisis will not occur "in our lifetimes."Addressing an audience at the British Academy in London on Tuesday, Yellen said the banking reforms put in place in recent years have made the financial system safer, and that the world should be able to avoid the type of devastating crisis that struck the global economy in 2008. US Fed Chair Janet Yellen speaks during a discussion with Lord Nicholas Stern,
China insurance mogul said unable to work, reported detained

Jun 14, 2017

BEIJING (AP) -- The Chinese insurer that owns New York City's Waldorf Astoria Hotel said Wednesday its chairman has turned over his duties to other executives following a report he was detained by regulators amid accusations of possible financial misconduct.Anbang Insurance Group Ltd. Chairman Wu Xiaohui was "temporarily unable to perform his duties due to personal reasons,'' said a one-sentence statement on the company website. It said Wu had authorized other executives to do his work and gave
Trump sued over business benefits

Jun 13, 2017

WASHINGTON (AFP) -- Maryland and Washington sued President Donald Trump Monday, saying he is violating laws by raking in money from foreign governments and businesses at his luxury hotels and office towers.The lawsuit said heavy spending by foreign diplomats and embassies at the Trump International Hotel just a few blocks from the White House, payments made by foreign entities at his Trump Tower and Trump International Tower in New York, and other business operations effectively violate the US C
[Graphic News] China top Asian country in hydropower production

Jun 11, 2017

Hydroelectric power is China’s largest renewable energy source and its second overall, trailing only coal. The country is adding more new installed hydropower capacity than the rest of the Asia combined.China has added 331,110 megawatts of hydroelectricity generating capacity, far outpacing other Asian countries like India with 51,975 MW, Japan with 49,905 MW and Vietnam with 16,306 MW.On the other hand, Bangladesh, Nepal, Cambodia and Bhutan are the Asian countries with the least hydroelectric
ECB hints at end to easy money policy

Jun 8, 2017

The European Central Bank on Thursday signalled greater confidence in the eurozone economy, as it took what analysts describe as a tentative step towards an exit from its easy-money policy.Policymakers meeting in Estonian capital Tallinn decided to keep the bank's main refinancing rate at 0.0 percent, the marginal lending rate at 0.25 percent, and the deposit rate at -0.4 percent -- meaning lenders have to pay to park cash with the central bank -- a spokesman said.But they also dropped a long-st
Japan’s ultralow jobless rate masks grim reality

May 31, 2017

TOKYO (AFP) -- Japanese employers are scrambling to find staff, unemployment is at its lowest level in more than two decades and the labor market is tighter than it was during Japan’s booming bubble economy years.This should be great news for the world’s No. 3 economy, but analysts are warning not to pop the champagne quite yet because it is mostly due to a shrinking labor force. And many jobs are temporary and pay very little.Japan tied with Iceland in 2016 for the lowest annual unemployment ra
China says considering tighter controls on yuan currency

May 26, 2017

SHANGHAI (AFP) - China said Friday it is considering a change to its mechanism for managing its currency to buffer it against market forces, in an apparent step back from liberalisation pledges.The potential new system would introduce a "counter-cyclical factor" to China's current system of allowing the yuan to trade within a government-set band, according to a statement on the website of the Foreign Exchange Trade System, an agency under the People's Bank of China.The statement did not explain
US growth in Q1 revised up to 1.2 pct. but still weak

May 26, 2017

WASHINGTON (AP) -- The U.S. economy started 2017 out with a whimper, but it wasn't quite as weak as first thought. The government revised up its January-March growth reading to a rate of 1.2 percent -- better than an earlier estimate of 0.7 percent but well below President Donald Trump's ambitious growth targets.The Commerce Department says the gross domestic product, the broadest measure of economic health, is down from 2.1 percent growth in the fourth quarter and marks the weakest result in a
With Macron win confirmed, European market rally hits pause

May 8, 2017

LONDON (AP) -- When Emmanuel Macron topped the first round of voting in the French presidential election two weeks ago, French stocks soared to near-decade highs. On Monday, the reaction to his victory in the runoff was decidedly subdued: investors had been fully expecting it and seem wary of the difficulties he'll face governing a divided country.In midday trading, the CAC 40 index of leading French shares was down 1 percent at 5,379. Other indexes across Europe were also trading lower, while t
[Graphic News] Tablet market extends slide as consumer habits shift

May 8, 2017

IDC reported an 8.5 percent drop in global tablet shipments to 36.2 million. This was the 10th straight quarterly decline for tablets.Apple led the market with a 24.6 percent share in the first quarter, despite a 13 percent sales drop. Samsung sales fell 1.1 percent but retained the number two spot at 16.5 percent, data showed. China’s Huawei was the only major vendor to show growth -- reporting a 31.7 percent jump, garnering a 7.4 percent share, after introducing new “detachable” tablets powere
Fitch cuts S. Africa's credit rating to 'junk'

Apr 7, 2017

JOHANNESBURG (AFP) -- Ratings agency Fitch said Friday it had cut South Africa's credit rating to junk status, citing the recent political instability prompted by a controversial cabinet reshuffle.The agency downgraded the country's sovereign debt rating from 'BBB-' to 'BB+' but kept the outlook stable.It said the downgrade reflected the view that "recent political events, including a major cabinet reshuffle, will weaken standards of governance and public finances."Already earlier this week, ano
China to create new economic zone outside Beijing

Apr 2, 2017

BEIJING -- China will create a new special economic zone outside Beijing similar to those established in Shenzhen and Shanghai, the government said, in a bid to boost flagging growth and reduce the strain on the capital.The Xiongan New Area, located some 100 kilometres (62 miles) southwest of downtown Beijing in Hebei province, will rival south China's Shenzhen Special Economic Zone, established in the 1980s, and Shanghai's Pudong New Area, set up in the 1990s. The move was a "major historic and
Stock markets, pound subdued as UK triggers Brexit request

Mar 29, 2017

World stock markets were subdued Wednesday as Britain triggered the start of its exit from the European Union, a formal step that kicks off two years of negotiations that will have wide-ranging consequences for business in the region.Britain's FTSE 100 was faring worst in Europe, dropping 0.4 percent to 7,317. Germany's DAX climbed 0.4 percent to 12,200 and France's CAC 40 added 0.1 percent to 5,050. U.S. stocks were poised to open higher. Dow and S&P 500 futures were flat.British Prime Minister
ECB says 'optimistic' for global deal on bank rules

Mar 27, 2017

FRANKFURT (AFP) - Regulators at the European Central Bank said Monday they are "optimistic" that talks on harmonising rules for banks around the world will soon end in a deal.The so-called "Basel III" round of banking talks has stalled in recent months as negotiators battle over questions like how big banks' capital reserves should be and how they should judge risk.Observers feared that Donald Trump's incoming adminstration -- seen as favouring looser regulation of banks and distrustful of multi