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Greek bailout moves ahead after Germany gives its backing

World BusinessJul 18, 2015

The bailout of Greece cleared some further key hurdles Friday after German lawmakers overwhelmingly gave their backing to another financial rescue and the European Union said it would release an interim loan that will ensure Athens avoids an imminent debt default.The developments, along with Greek parliamentary approval early Thursday of creditor-demanded austerity measures, prompted a positive assessment from Europe's bailout fund, which approved a “decision to grant, in principle, stability s
IS car bomb sows carnage in Iraq town

World NewsJul 18, 2015

A car bomb blast claimed by the Islamic State group ripped through the crowded heart of an Iraqi town north of Baghdad Friday, killing at least 35 people, officials said.The attack occurred in a market area of the predominantly Shiite town of Khan Bani Saad as people shopped on the eve of the Eid al-Fitr holiday marking the end of Ramadan."We have 35 martyrs and more than 70 wounded," said Mohammed Jawad al-Hamadani, a member of the Diyala provincial council in which Khan Bani Saad is located."T
3 French arrested in IS-inspired plan to attack base

World NewsJul 18, 2015

Three young men plotted an attack on a French military base after receiving orders from an Islamic State group contact in Syria to strike in France, prosecutors said Friday.The accounts investigators say they gave underscore the role of the Islamic State organization's savvy social media machine in recruiting Western youth. All three had high school diplomas and quickly radicalized watching grisly IS group videos, the prosecutor's office said.The men, arrested Monday, went before an investigativ
Suicide bomber kills guard in southwest Pakistan before Eid: police

World NewsJul 18, 2015

A suicide bomber apparently targeting minority Shiites blew himself up late Friday, killing a security guard who intercepted him at the entrance to a housing complex in restive southwestern Pakistan, police said.The attack, which struck on the eve of the Muslim festival of Eid al-Fitr, took place at Railway Colony in the city of Quetta, near a neighborhood that is home to Shiite Hazaras who have been targeted in the past by Sunni militants."The security guard of Railway Colony was killed after h
Seoul shares to move in tight range next week

Jul 18, 2015

South Korean stocks are likely to trade in a narrow range next week as the second-quarter earnings season kicked off on a downbeat note, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,076.79 on Friday, spiking 2.24 percent from a week earlier.The index climbed as the Greek debt deal and the rebounding Chinese market lifted investor sentiment, which was corroborated by a landmark deal on Iran's nuclear program on Wednesday. With uncertainties in the g
U.S. second lady says younger female workers in South Korea still face many challenges in workplace

Jul 18, 2015

South Korea has made big strides in promoting womens' rights over the past few decades, but there remain many difficulties and challenges for women, especially younger workers, the U.S. second lady said.Jill Biden, wife of U.S. Vice President Joe Biden, also said in an interview with Vogue Korea ahead of her visit to the country that she hopes to use her visit to South Korea to learn more about measures the country has been taking to "even the playing field for women in the workplace."Biden is s
IMF cuts 2015 global growth forecast to 3.3%

Jul 9, 2015

The International Monetary Fund lowered its global growth forecast for 2015 to 3.3 percentThursday, citing weaker than expected economic gains in the United States and North America.The latest estimate is down from 3.5 percent growth predicted by the Washington-based fund in April. It is also below the 3.4 percent growth reached last year, a sign of challenges weighingdown the worldwide economy.The World Economic Outlook Update report showed consumer prices among advanced economies standing at z
North Korea again releases nuke power plant data

North KoreaJul 9, 2015

North Korea is believed to have again released leaked data on South Korea's nuclear power plants on the Internet, Seoul investigators said Thursday.The confidential data of South Korea's nuclear power operator the Korea Hydro and Nuclear Power Co. and blueprints of several plants were posted on the U.S. Website on Wednesday, according to a special investigation team probing the case. In December, an unidentified hacker, claiming to be an activist against nuclear power, had posted data about loca
Two Koreas to hold talks to negotiate Gaeseong wage issues

North KoreaJul 9, 2015

South and North Korea plan to hold talks on a joint industrial park in the North next week to discuss a prolonged dispute over the North's unilateral move to raise wages for its workers at the complex, Seoul officials said Thursday.North Korea has accepted the South's offer for holding the meeting at the Gaeseong Industrial Complex next Thursday at the border city of the same name, according to the unification ministry.The move raises hopes for resolving a months-long wage row between the two Ko
Deadline day for 'last chance' Greece bailout plan

World NewsJul 9, 2015

ATHENS -- Greece was to submit a detailed bailout request to its eurozone partners Thursday in a last-ditch effort to save its collapsing economy and its membership in the European single currency.In a surprise concession, EU President Donald Tusk said that if Greece delivered, its creditors would have to drop their steadfast refusal to look at ways at managing the country's massive 320-billion-euro ($350-billion) debt mountain."The realistic proposal from Greece will have to be matched by an eq
NYSE suffers outage as US stocks slump

Jul 9, 2015

NEW YORK -- The New York Stock Exchange halted trading Wednesday for more than three hours due to technical problems that it said were not caused by hacking.The outage was due to "an internal technical issue" and "was not the result of a cyber breach," NYSE said on Twitter. "We chose to suspend trading on NYSE to avoid problems arising from our technical issue."Traders work on the floor of the New York Stock Exchange at the close of the day after trading was paused for nearly four hours due to a
South Korea, Australia united against North Korea's threats

North KoreaMay 21, 2015

Foreign Minister Yun Byung-se and his Australian counterpart said Thursday they were firmly united against threats from North Korea, urging the international community to send a strong warning against the North's provocations."It's not a regional risk but also a global risk," Australian Foreign Minister Julie Bishop said at a joint press briefing with Yun after their talks here.She said Australia is working closely with South Korea, the United States, and other partner countries for peace and se
Japan takes S. Korea to WTO over ban on fishery products

PoliticsMay 21, 2015

South Korea expressed regret on Thursday over Tokyo's move to turn to the World Trade Organization to address Seoul's import ban on Japanese fishery goods.South Korea has banned imports of all fishery products near the site of a nuclear accident in Fukushima since September 2013. The 2011 nuclear disaster sparked safety concerns as it led to a massive leak of radioactive materials and contaminated water."We express regret over Japan's request to the WTO for consultations," the South Korean gover
US to sell bombs to Israel, helicopters to Saudis

World NewsMay 21, 2015

The United States said Wednesday it plans to sell thousands of bombs and missiles to Israel as well as 10 Seahawk helicopters to Saudi Arabia, in deals worth about $1.9 billion each, officials said Wednesday.The US State Department informed Congress of the proposed arms sales to two allies in the Middle East that are both wary of Washington's negotiations with Iran over Tehran's nuclear program.The planned weapons deal with Israel would provide 3,000 Hellfire missiles, 250 medium-range air-to-
South African Minister Nene ‘very concerned’ by forex probe

World BusinessMay 21, 2015

South Africa’s finance minister said he’s worried a probe into foreign currency manipulation may expose risks in the banking system, as government officials prepare to meet the central bank to discuss the investigation.“We are very concerned,” Nhlanhla Nene said in an interview at a meeting between business and government leaders in Johannesburg Thursday. “We will meet with the Reserve Bank tomorrow to understand what happened and if there’s any impact on South Africa’s financial systems.”The co