Foreign firms, employees under tough pressure from pension, tax changesBEIJING (AP) ― Foreign companies that are looking to China to shore up wilting global sales have been hit by higher payroll taxes, surcharges to subsidize unions and other changes that are making conditions tougher just as economic growth slows. The biggest worry for many is an abrupt order for foreign workers and their employers to start paying up to 40 percent of their wages for pensions and other welfare. Automakers face a

Most global investors predict China will face a banking crisis within the next five years, paring their appetite for the nation’s shares and eroding confidence in its leadership, a Bloomberg Global Poll indicated. Sixty-one percent of respondents said they anticipate a crash in the financial industry by late 2016, and only 10 percent were confident China’s banks will escape trouble, according to the quarterly poll of 1,097 investors, analysts and traders who are Bloomberg subscribers conducted D

HONG KONG (Yonhap News) ― A South Korean businesswoman has been appointed to serve at a Hong Kong government-related body aimed at developing the arts, officials said Wednesday, marking the first time a South Korean national has held such a position.Moon Eun-myung, founder of the Hong Kong-based Moon Gallery started her term as an examiner for the Hong Kong Arts Development Council on Dec. 1, according to the council. Her term lasts until April 30, 2014.The ADC is a statutory body set up by the

South Korean entertainer Jang Geun-suk, who is especially popular among Japanese fans of the Korean Wave, has been named PR ambassador for the world’s largest nuclear security forum to be held in Seoul in March.Jang will help promote the second Nuclear Security Summit, along with other goodwill ambassadors ― singer Lena Park, child actor Wang Suk-hyun and child actress Jin Ji-hee.“Earlier this year, I felt deeply sad about the nuclear plant incident in Fukushima. It made me think how the world w

TOKYO (AP) ― The world’s oldest dog according to Guinness World Records has died at the age of 26 years and eight months.Pusuke, a fluffy tan Shiba mix, died Monday after suddenly falling ill and refusing to eat, owner Yumiko Shinohara told reporters at her home in Sakura, a city outside Tokyo.“I would just like to thank him for staying alive so long,” Shinohara told TV network FNN. The report said Pusuke’s lifespan would have been the equivalent of about 125 years for a human.According to Guinn

CAIRO (AFP) ― Egypt’s caretaker premier named a new cabinet on Wednesday with increased powers to tackle worsening crime and a sliding economy as Islamist parties made fresh gains in the country’s parliamentary election.Interim premier Kamal el-Ganzouri announced his administration following nearly two weeks of delays, reportedly caused by problems in finding a suitable candidate to fill the highly sensitive interior ministry post.He finally opted for Mohammed Ibrahim Yusuf, who headed police in

Putin officially registers to run for president; ex-Soviet leader Gorbachev calls for new voteMOSCOW (AP) ― Popular anger against Vladimir Putin’s ruling party and alleged election fraud have boiled over into a third straight night of protests, and police in Russia’s two largest cities arrested scores of demonstrators.The demonstrations in Moscow and St. Petersburg on Wednesday appeared to attract fewer protesters than in previous days, roughly 300 in each city, but Russians’ willingness to risk

 A Joseon Dynasty king would rise about 5 a.m. each day and meet with his courtiers to study and discuss state affairs. After eating breakfast, his official schedule for the day would begin.After lunch, he would again meet with courtiers, before receiving reports from his ministers or handling civil complaints.Although his workday officially ended at 5 p.m., he was usually busy until later handling work left unfinished or meeting again with his retinue.The lifestyle resembles that of a present-d

 The nation’s biggest craft fair kicks off its four-day run on Dec. 15 at COEX Hall C in Samseong-dong, southern Seoul. Hosted by the Ministry of Culture, Sports and Tourism and organized by Korea Craft & Design Foundation, the annual “Craft Trend Fair” has, over the years, become an important event for craft-lovers. This is the sixth year of the fair which attracts about 600 artisans and more than 30,000 visitors each year. This year’s theme is “Extraordinary.” “The Craft Trend Fair will shed n

Korean-directed documentary ‘My Barefoot Friend’ offers captivating human dramaThey will soon be gone from the vibrant streets of Calcutta. The rickshaw operators, who haul customers and cargo across the city using their bare feet, work about 15 hours a day in merciless traffic, overwhelming heat and even torrential rain. But their profession could be extinct in just two or three years, as the Calcutta government has been enforcing a ban on rickshaws on its streets since 2006.Following the relea