South Korea

Oil costs fell on Wednesday as early poll results in the U.S. election showed Democrat Kamala Harris and Republican Donald Trump secured a tight race for the presidency. U.S. West Texas Intermediate (WTI) crude lost 27 cents, or 0.4%, to trade at $71.72 per barrel, and Brent crude oil futures lost 0.35 cents, or 0.46%, to trade at $ 75.18 per barrel at 0132 GMT. Trump won 8 states in Tuesday's U.S. governmental election while Harris recorded 3 states and Washington, D.C., Edison Research forecasted, however the outcome of the race stayed unpredictable with crucial battlefield states not likely to...

storyp1> LONDON, Oct 20 (Reuters) Foreign minister David Lammy will look to deepen Britain's security cooperation with Indonesia and South Korea throughout his see to the 2 Asian countries in which he is likewise anticipated to discuss the tidy energy shift. His check out to South Korea comes days after Ukraine's President Volodymyr Zelenskiy implicated North Korea of preparing to send out 10,000 soldiers to assist Moscow's war effort, raising U.S. issues. NATO chief Mark Rutte has actually said there was no evidence of Pyongyang's existence at this stage. Stress have actually also been running high up on the Korean...

Fertiglobe expects to more than double its net ammonia production capability as it incorporates ADNOC's portfolio of low carbon ammonia tasks following the energy giant's purchase of a majority stake in the fertiliser maker on Tuesday. Fertiglobe CEO Ahmed El-Hoshy told Reuters the offer conclusion, which saw ADNOC buy simply over a 50% stake in the business from European chemical manufacturer OCI for $3.62. billion, would speed up Fertiglobe's path towards ending up being a. low carbon ammonia powerhouse. The deal, which raises ADNOC's stake to 86.2%, is the most recent. relocation by the state-owned Abu Dhabi group to broaden...

A take a look at the day ahead in Asian markets. Trading in Asia begins on Monday with the worldwide macro and market landscape all of a sudden appearing really various from how it searched Friday, thanks to a set of U.S. work figures that not even the most bullish of forecasters expected. The September non-farm payrolls report on Friday was unequivocally strong on all fronts, and throws into doubt the projected path for U.S. rate of interest that financiers - and possibly the Fed too - had started to settle on. The instant shift in U.S. rate futures markets...

A take a look at the day ahead in Asian markets. What comes down must increase. And so it is with oil, whose increase on intensifying worries over a. deepening dispute in the Middle East is casting a significantly. dark shadow over world markets as the week draws to a close. Brent crude jumped more than 5% on Thursday for its biggest. rise in a year, bringing the week-to-date gains to more than 8%. If oil holds steady on Friday, it will clock its biggest weekly. increase because January in 2015. It's true that oil's rebound is coming from a...

A take a look at the day ahead in Asian markets. Japanese markets, particularly the forexes, continue to absorb the rather blunt talk about financial policy from brand-new prime minister Shigeru Ishiba after he consulted with Bank of Japan guv Kazuo Ueda on Wednesday. I do not think that we are in an environment that would require us to raise interest rates even more, Ishiba said, stimulating a big wave of yen selling. The yen shed practically 2% versus the dollar on Wednesday, its biggest fall given that February in 2015. Omitting the pandemic-related volatility of March 2020, it was...

A look at the day ahead in Asian markets. The last quarter of the year is under method, and the sense of caution that identified its open on Tuesday could not be further gotten rid of from the ebullience and optimism that marked the end of the 3rd quarter 24 hours previously. Financiers left risky assets like stocks for the safety of U.S. Treasuries, gold and the dollar as Iran fired a salvo of ballistic rockets at Israel on Tuesday in retaliation for Israel's project versus Tehran's Hezbollah allies in Lebanon. The S&P 500 and global stocks had their worst...

Slovakia's Prime Minister Robert Fico stated on Friday he will talk about plans to develop a new nuclear power system during a see to South Korea as the government sounds out prospective bidders. Slovakia is wanting to construct a new nuclear power system of up to 1,200 megawatts (MW) at its Jaslovske Bohunice plant. The economy and finance ministries are because of send strategies to the federal government by the end of October. In July, Slovakia's. neighbour the Czech Republic picked South Korea's KHNP over. French group EDF to build brand-new nuclear power blocks. Fico said he hoped his check...

South Korean battery maker SK On stated on Thursday it prepares to present voluntary steps focused on minimizing its workforce, as the business looks for to improve effectiveness and stay competitive in a difficult electric automobile market. SK On, the battery system of energy group SK Development , stated in a statement it prepares to offer programs offering unique leave and voluntary departure options as part of an effectiveness plan. These are proactive procedures to establish a lean, agile workforce, so that we can better browse moving EV market conditions, SK On stated. While the company pushes to improve effectiveness...

South Korean battery maker SK On strategies to present voluntary procedures aimed at decreasing its workforce, as the company seeks to improve performance and stay competitive in a tough electrical automobile market, industry sources said on Thursday. SK On, the battery unit of energy group SK Development , intends to provide programmes offering unique leave and voluntary departure options as part of a performance scheme, individuals with knowledge of the matter said. Nothing has actually been validated at this time, an SK On representative said in a statement. SK On, which supplies EV batteries to Ford Motor, Hyundai Motor and...

A take a look at the day ahead in Asian markets. Asian stocks are poised to end the week on a strong footing on Friday, spurred on by another solid rise on Wall Street the day before that puts some crucial standard indexes throughout the continent on track to sign up modest weekly gains. The European Central Bank cut interest rates on Thursday and the Fed is set to begin a pretty considerable reducing cycle next week. Although the former was not a surprise and traders have actually been expecting the latter for a while, they are conducive to a...

A look at the day ahead in Asian markets. The see-saw nature of U.S. market reactions to the most recent U.S. inflation figures on Wednesday highlighted financiers' basic skittishness today, as they attempt to forecast whether the Fed will cut rate of interest by 25 or 50 basis points next week. At the marketplace close, the S&P 500 and Nasdaq had posted healthy gains and chalked up their 3rd everyday rise, the VIX 'fear. index' had actually succumbed to a third day, and Treasury yields bounced. back from brand-new cycle lows to end greater throughout the curve. There was something...

Donald Trump has actually been chosen U.S. president, topping an amazing comeback 4 years after he was voted out of the White Home. Here is what business in Asia have bought the United States, what Trump has stated about them and what possible U.S. service policy changes would mean for Asian companies. SEMICONDUCTORS Asian chipmakers, led by Taiwan's TSMC and South Korea's Samsung Electronics, have jointly invested a minimum of $117 billion in the U.S., encouraged by the current U.S. administration's essential initiative aimed at lowering its dependence on Asia for high-end chips. In return, they have gotten or been...

India's JSW Steel and South Korea's POSCO plan to invest 650 billion rupees ($ 7.73 billion). in their proposed plant in India in the coming years, sources. said, part of efforts to capitalise on rising steel need in. the world's fastestgrowing significant economy. Last week, JSW Steel and POSCO signed. a contract to establish an integrated steel plant with an initial. capability of 5 million metric lots a year. The plant will be in. the eastern state of Odisha, understood for its iron ore reserves. They did not provide monetary information of the agreement, but. sources knowledgeable about the matter...

South Korea's financial market guard dog stated on Thursday it acknowledged concerns among financiers over a current decision by Korea Zinc to release new shares and was looking into the strategy to identify if it involved any unfair practices. We will hold the business and related securities brokerage accountable if any unfair trade or misbehavior is discovered, Hahm Yong-il, senior deputy governor of the Financial Supervisory Service, told an instruction. Hahm likewise said authorities could require Korea Zinc to send a modified plan for share issuance if there was any major omission impacting investor decisions in the filing sent on...

Shares in Korea Zinc fell as much as 29.9% to their everyday lower limit in Wednesday's trade, after the world's leading zinc refiner announced a strategy to issue brand-new stock worth 2.5 trillion won ($ 1.81. billion). Run by the Choi family, Korea Zinc has actually been in a bitter. fight to manage the $18 billion zinc empire with the. co-founding Chang family, whose conglomerate Young Poong. made an initial joint offer with MBK in September. Korea Zinc said in a regulatory filing its board selected. Wednesday to issue some 3.73 million shares at 670,000 won per. share. This was...

A South Korean court on Monday declined a demand by Young Poong to temporarily block Korea Zinc from proceeding with its tender deal to buy back shares in the company, pressing shares in the world's. greatest zinc refiner to a record high. After the court rejected the injunction, Korea Zinc's biggest. shareholder Young Poong said it would submit a. claim, signalling a prolonged legal battle in between founding. families over control of the metals giant. Young Poong has actually joined with private equity fund MBK Partners. in an effort to get a controlling stake in the refiner. That triggered Korea...

India's steel ministry favours a temporary tax to curb rising steel imports, a senior official with direct understanding of the matter stated, as it seeks to safeguard steelmakers reeling from a rise in more affordable Chinese imports. A temporary protect task would assist suppress Chinese imports, and a procedure to enforce the responsibility would start quickly, stated the official, who asked for privacy as the considerations are not public. India, the world's second-biggest crude steel manufacturer, ended up being a net importer of the alloy in the fiscal year to March 31, 2024, and the pattern has actually continued since...

Korea Zinc on Friday raised the purchase rate and size of its tender deal, magnifying a fight in between its two founding families to manage the world's biggest zinc refiner. Korea Zinc stated it has actually raised the tender rate by 7% to 890,000 won ($ 659) each and increased the variety of shares it strategies to get by 21% to 3,623,075 shares, valuing the tender offer at 3.2 trillion won ($ 2.4 billion). The relocation is the only way to ward off hostile M&A by MBK Partners and Young Poong, Korea Zinc said in a declaration. The offers tops...

Korea Zinc, the world's greatest improved zinc manufacturer, has actually been involved in a. bitter fight among founding families over control of its $12. billion zinc empire. The winner of the battle stands to manage South Korea's. substantial player in a U.S.-led effort to lower heavy reliance. on China for essential metals and products utilized in industries ranging. from building to cars, experts said. Personal equity firm MBK Partners and Young Poong. on Friday raised their offer price for shares in Korea Zinc to. match a counteroffer from competing relative and Bain Capital. WHO ARE THE MAJOR GAMERS? Young Poong...

Shares in Korea Zinc , the world's most significant fine-tuned zinc producer, rose on Friday, the last trading day before a due date to accept a. $ 1.7 billion tender offer from its biggest shareholder Young. Poong and personal equity firm MBK Partners. Run by the Choi family, Korea Zinc has been in a bitter. fight for control of the $12 billion zinc empire with the. co-founding Chang household, whose electronic devices conglomerate Young. Poong made the joint offer with MBK in September. Each side in combination with their most likely supporters holds. about a one-third stake in Korea Zinc,...

The Korea Football Association (KFA) broke its own hiring rules while recruiting nationwide team head coach Hong Myungbo and excoach Juergen Klinsmann, the sports ministry stated on Wednesday. South Korea revived Hong for a 2nd spell in charge of the team in July, ending a five-month wait on a new coach after Klinsmann was sacked in February. Hong managed two World Cup qualifiers in September, consisting of a 0-0 draw with Palestine, during which fans mocked him to reveal annoyance at his appointment. After Hong's employing experienced backlash, Korea's sports ministry began an investigation into the operations of the KFA,...

A South Korean court struck down on Wednesday a request by zinc producer Young Poong to obstruct Korea Zinc from buying out its own shares to counter Young Poong's tender offer, the Seoul Central District Court stated. Last month, private equity fund MBK Partners and South Korea's Young Poong introduced a 2 trillion won ($ 1.5. billion) tender offer for shares in Korea Zinc, which the target. called a hostile takeover effort. They recently raised the. offer to 2.3 trillion won. Because it was founded in 1949, Young Poong Group has actually been. run by the household of the two...

Indian authorities on Tuesday said they had actually apprehended 912 Samsung Electronics workers and union members for organising a street demonstration, as a strike at the South Korean firm's home devices plant in Tamil Nadu state entered its fourth week. More than 1,000 employees have disrupted production and opposed in a makeshift camping tent near the factory near the city of Chennai given that Sept. 9. They have demanded greater earnings and union acknowledgment at the plant, which accounts for a fifth of Samsung's 2022-23 India annual income of $12 billion. Charles Sam Rajadurai, a senior state cops official, stated...