Renault targets 100,000 car sales in return to India

Renault SA aims to sell 100,000 cars a year in India by the end of 2013, as the French automaker introduces its first model in the Asian country since exiting a joint venture with Mahindra & Mahindra Ltd. last year.The carmaker will introduce the Fluence sedan May 23 in New Delhi and plans to sell as many as five models by December 2012, when it expects to have 100 dealers across the country, Marc

MobilityMay 22, 2011

Two-wheelers gain amid soaring gas prices

Rising gas prices may be inconvenient but they make scooters and motorbikes better options, especially with summer just around the corner. Compact motorbikes have been gaining popularity among riders, particularly those in their 20s and 30s looking to add style to their riding experience. Scooters and motorbikes come with fuel efficiency of at least 30km per liter, making them especially attractiv

MobilityMay 22, 2011

Germany backs Lagarde for IMF job

BERLIN (AP) ― Germany’s finance minister on Saturday added to a chorus of calls for France’s Christine Lagarde to become a new leader of the International Monetary Fund.Lagarde has emerged as a front-runner to replace Dominique Strauss-Kahn, also of France, who resigned this week to face charges in New York that he tried to rape a hotel maid. He denies the charges. French Finance minister Christin

IndustryMay 22, 2011

Choi joins with SKT to help underprivileged youth

Players champion donates W100m to build youth center in North JeollaChoi Kyoung-ju, the first Asian to win the Players Championship earlier this month, offered to donate 100 million won ($92,353) to establish a youth support center in North Jeolla Province at an event in Jeju on Saturday.In a joint effort with SK Telecom, Choi’s donation will be used for establishing a “1318 Happy Zone” center for

IndustryMay 22, 2011

Iceland's Grimsvotn volcano erupting

REYKJAVIK, Iceland (AP) _ Iceland closed its main international airport Sunday as a volcanic eruption sent a plume of ash, smoke and steam 12 miles (20 kilometers) into the air.Smoke rises from the Grimsvotn volcano in Reykjavik, Iceland, Saturday. (AP-Yonhap News)Airport and air traffic control operator ISAVIA said Keflavik airport was closed at 0830 GMT (4:30 a.m. EDT), and no flights were takin

TechnologyMay 22, 2011

Pope blesses astronauts in 1st papal call to space

CAPE CANAVERAL, Florida (AP) _ Pope Benedict XVI had a direct line to the heavens Saturday, with NASA's help.Speaking from the Vatican, the pontiff bestowed a historic blessing upon the 12 astronauts circling Earth during the first-ever papal call to space, wishing a swift recovery for the shuttle commander's wounded congresswoman wife and condolences for a station astronaut mourning his mother's

TechnologyMay 22, 2011

HTC ups commitment to woo Korean consumers

Jack Tong, president of HTC’s North Asia markets, on Friday pledged to beef up commitment on the observation that Korea is a “difficult place” for a foreign brand to succeed mainly due to the competition posed by strong local brands.“I have to admit it is not easy. The Korean market is the most difficult and challenging market for foreign brands,” Tong said. “It’s difficult for the foreign brands

IndustryMay 20, 2011

Hana says will agree KEB deadline delay with Lone Star

Hana Fnancial Group chairman Kim Seung-yu said Friday that his company would be able to agree with the U.S. Lone Star Funds to extend the deadline for the takeover of Korea Exchange Bank. “We can draw a conclusion by next weekend,” Kim told The Herald Business, the sister paper of The Korea Herald.The two sides are in talks to extend their May 24 deadline. Kim reportedly flew to Tokyo on Wednesday

May 20, 2011

Study finds dark energy exapands universe

(AP-Yonhap News)The existence of “dark energy” that accelerates expansion of the Universe has been confirmed by an astronomical survey of about 200,000 galaxies, BBC reported. Dark energy makes up some 74 percent of the Universe and its force pulls the Universe apart at increasing speed. “The action of dark energy is as if you threw a ball up in the air, and it kept speeding upward into the sky fa

TechnologyMay 20, 2011

Taiwan's HTC to debut new smartphone in S. Korea

HTC's new smartphone unveiled in Seoul on Friday (Yonhap News)        HTC Corp. said Friday it will release its new flagship smartphone in South Korea next week, hoping that the phone's movie streaming feature will help the Taiwanese firm gain ground.    SK Telecom Co., South Korea's largest mobile phone carrier, will exclusively release the Sensation smartphone on May 25, said HTC's North Asia Pr

TechnologyMay 20, 2011

Samsung C&T leads green innovation in construction

Samsung C&T Corp., the country’s No. 2 builder, is strengthening its eco-friendly capabilities to take the lead in applying green technologies to the construction sector.The company, which developed the zero-energy building Green Tomorrow, has been strengthening research and development efforts, as well as securing a pool of experts. Green Tomorrow contains 68 eco-friendly technologies, allowing t

IndustryMay 19, 2011

STX Heavy signs W3tr Iraq power plant deal

STX Heavy Industries Co. announced Thursday that it has signed a 3 trillion won ($2.77 billion) contract to build power plants in Iraq.The contract was signed in Baghdad at a ceremony attended by STX Heavy Industries chief executive Lee Chan-woo, Iraqi Prime Minister Nouri al-Maliki and Electricity Minister Raad Shallal.  STX Heavy Industries Co. and Iraqi officials including CEO Lee Chan-woo (thi

IndustryMay 19, 2011

POSCO Power completes first hydrogen fuel cell stack

The country’s first hydrogen fuel cell stack developed with local technology was completed, POSCO Power announced Thursday.Affiliate of the steelmaker POSCO, POSCO Power is the country’s largest private power generating firm.POSCO Power’s fuel cell stack has a generating capacity of 1.4 megawatts, which according to the company is sufficient to supply 1,600 households.  POSCO Power employees work

IndustryMay 19, 2011