CEO Hill promotes reform to compete with local commercial banksStandard Chartered First Bank is pushing for operational reforms to enhance its competitiveness in the banking sector after suffering from months of striking by its unionized staff. Bank CEO Richard Hill disclosed its intention to open several branches which offer offline and online services 24 hours a day and seven days a week. These would be the first of their kind in the local financial sector.Meeting reporters in New York on Wedn

MOSCOW (AFP) ― Russia stood Thursday on the verge of ending its tortuous 18-year wait to get into the World Trade Organization after accepting a Swiss-mediated deal that removed reservations by its arch-foe Georgia.The decisive breakthrough came after months of closed-door diplomacy in Switzerland between two rival neighbors that have only had limited ties since waging a five-day war in 2008.Russia is now finally poised to shed its status as the world’s largest economy outside the world’s premie

The “glass ceiling” refers to a barrier ― invisible, yet unbreakable ― that prevents women from climbing the corporate ladder. But many highly educated Koreans are denied access to the corporate ladder itself, let alone rising above the glass ceiling, simply because they are women.A recent recruitment survey shows how much Korean women are discriminated against in their search for jobs. According to the poll, women accounted for 18.5 percent of those fresh out of university that were recruited b

It is a matter of course that all labor groups, be they national or local, put the interests of workers before anything else. But the two national labor umbrella groups ― the Federation of Korean Trade Unions and the Korean Confederation of Trade Unions ― have often been accused of pursuing their own political agenda or those of their leaders at the expense of the interests of unionized workers.Against this backdrop, a third national labor umbrella group was launched earlier this week. In its in

“You reap what you sow” used to be a widely understood principle. Today, we seem to have lost that understanding as we watch the occupation of Wall Street and cities across the country. For three years, we have been hearing how big business is bad and how the rich are avoiding their fair share of taxes. President Barack Obama has been leading that charge, so it shouldn’t be a surprise that we are now seeing the spread of the class warfare he has helped to kindle. Let me say from the outset that

If you’re astounded by Herman Cain’s rise to the top of the Republican pyramid, remember that Americans have long had a soft spot for the mythological outsider who rides to the rescue.Movie director Frank Capra was great at mining that fantasy, most notably in 1939, when Jimmy Stewart used his aw-gosh gumption to clean up corruption in “Mr. Smith Goes to Washington.” And, far more recently in “Dave,” Kevin Kline played the amiable, innocent owner of a temp agency who accidentally becomes preside

Netanyahu says a nuclear-armed Tehran would pose ‘dire threat’ to the world JERUSALEM (AP) -- An Israeli official said Wednesday that Prime Minister Benjamin Netanyahu is trying to persuade his Cabinet to authorize a military strike against Iran‘s suspected nuclear weapons program _ a discussion that comes as Israel successfully tests a missile believed capable of carrying a nuclear warhead to Iran.It remained unclear whether Israel was genuinely poised to strike or if it was saber-rattling to p

TRIPOLI, Libya (AP) -- More than two months after the fall of Tripoli, Libya‘s new leaders are still struggling to secure massive weapons depots, stop the smuggling of munitions out of the country and disarm thousands of fighters who brought down Moammar Gadhafi’s regime.The international community has offered to help, but also expects Libyans to step up. However, the interim leadership _ in limbo until the formation of a new government mid-month _ may not be up to the task. Libya‘s temporary le

WASHINGTON (AP) ― The sexual harassment scandal surrounding Herman Cain, a leading Republican presidential candidate, deepened Wednesday as another woman accused him of inappropriate behavior when he headed a restaurant industry lobbying group in the 1990s.The woman’s account, told to the Associated Press, came as Cain tried unsuccessfully to divert attention from the controversy, responding testily to reporters who had pressed him about the original accusations.The scandal has jolted the contes