US Navy secretary touts S. Korea's shipbuilding capabilities

US Secretary of the Navy Carlos Del Toro has noted South Korea's capabilities to build high-quality ships, including warships, in a cost-effective way while voicing concerns that America's shipbuilding capabilities have "atrophied" over the past decades. Toro made the remarks during an event organized by the Navy League in Maryland on Tuesday, stressing the need to reverse the United States' underinvestment in modernization and industrial capacity. "Our Korean and Japanese allies

World BusinessApril 12, 2024

US, Britain, Australia mulling cooperation with Japan in AUKUS Pillar II projects

The United States, Britain and Australia are considering cooperation with Japan on advanced capability projects of their trilateral AUKUS security pact, their defense chiefs said in a joint statement Monday. US Defense Secretary Lloyd Austin and his British and Australian counterparts, Grant Shapps and Richard Marles, issued the statement, noting their consideration of cooperation with Japan in AUKUS Pillar II projects. Launched in September 2021 in an apparent move to counter China's regio

World NewsApril 9, 2024

[Graphic News] Mumbai has most billionaires in Asia

India’s financial hub Mumbai, with a population of 21.6 million, now holds the highest number of billionaires in Asia and ranks third behind New York and London in the world ranking, according to Hurun Research Institute’s global rich list. Mumbai overtook Beijing to become Asia’s leading billionaire hub for the first time with 92 billionaires. South Korea’s Seoul places 19th globally with 31 billionaires. In country rankings, China was still at the top of the list with

World NewsApril 9, 2024

Yellen, Premier Li express hope for US-China cooperation

BEIJING - US Treasury Secretary Janet Yellen and Chinese Premier Li Qiang sounded a hopeful tone on US-China cooperation on Sunday, though the American policymaker noted both sides cannot shy away from tough conversations. The US-China relationship can only move forward with direct and open communication, Yellen told Li, after arriving in the Chinese capital from the southern city of Guangzhou. Li, in welcoming Yellen, said "China sincerely hopes that the two countries will be partners, not

World NewsApril 7, 2024

Hamas says delegation to go to Cairo on Sunday for Gaza ceasefire talks

CAIRO - A Hamas delegation headed by the group's deputy chief in Gaza, Khalil Al-Hayya, will go to Cairo on Sunday for Gaza ceasefire talks, in response to an invitation extended by Egyptian mediators, the group said in a statement on Saturday. US CIA Director Bill Burns arrived in Cairo on Saturday evening to attend Sunday's talks, sources at Cairo airport told Reuters. Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani and an Israeli delegation were expected to take par

World NewsApril 7, 2024

Mexico severs diplomatic ties with Ecuador after police storm its embassy to arrest politician

QUITO, Ecuador — Mexico's government severed diplomatic ties with Ecuador after police broke into the Mexican Embassy to arrest a former Ecuadorian vice president, an extraordinary use of force that shocked and mystified regional leaders and diplomats. Ecuadorian police late Friday broke through the external doors of the embassy in the capital, Quito, to arrest Jorge Glas, who had been residing there since December. Glas sought political asylum at the embassy after being indicted on

World NewsApril 7, 2024

9 dead, over 1,000 injured in Taiwan’s quake

HUALIEN, Taiwan -- A helicopter plucked six miners to safety from a Taiwan quarry Thursday as rescuers worked to free scores of people trapped in highway tunnels after the island's biggest earthquake in a quarter of a century. Nine people were killed and more than 1,000 injured in Wednesday's magnitude-7.4 quake, but strict building regulations and widespread public disaster awareness appear to have staved off a major catastrophe on the island. Dozens of residents of the worst-hit city

World NewsApril 4, 2024

Taiwan's strongest earthquake in nearly 25 years damages buildings, leaving 4 dead

Taiwan's strongest earthquake in a quarter century rocked the island during the morning rush hour Wednesday, damaging buildings and highways and causing the deaths of four people. Taiwan's national fire agency said four people died in Hualien County and at least 57 were injured in the quake that struck just before 8 a.m. The local United Daily News reported three hikers died in rockslides in Taroko National Park near the offshore epicenter. A five-story building in Hualien appeared hea

World NewsApril 3, 2024

A strong earthquake shakes Taiwan, damaging buildings and causing a tsunami

A powerful earthquake rocked the entire island of Taiwan early Wednesday, collapsing buildings in a southern city and creating a tsunami that washed ashore on southern Japanese islands. A five-story building in lightly populated Hualien appeared heavily damaged, collapsing its first floor and leaving the rest leaning at a 45-degree angle. In the capital, Taipei, tiles fell from older buildings and within some newer office complexes. Train service was suspended across the island of 23 million peo

World NewsApril 3, 2024

7.5-magnitude earthquake hits near Taiwan: Japan agency

A major 7.5-magnitude earthquake hit near Taiwan shortly before 9:00 am Wednesday, prompting tsunami warnings for southern Japanese islands, Japan's Meteorological Agency said. Tsunami waves as high as three metres (10 feet) were expected immediately for remote Japanese islands near Taiwan, including Miyakojima island, the agency said. "Evacuate!" said a banner on national broadcaster NHK. "Tsunami is coming. Please evacuate immediately," an anchor on NHK said. "Do

World NewsApril 3, 2024

World powers condemn deadly Gaza air strike on aid workers

PARIS -- The United States and Britain led international criticism Tuesday of a deadly strike in the Gaza Strip that killed seven charity staff as they unloaded desperately needed aid brought by sea to the war-torn territory. World Central Kitchen -- one of two NGOs spearheading efforts to deliver aid by boat -- said a "targeted Israeli strike" on Monday killed Australian, British, Palestinian, Polish and US-Canadian staff. Washington, Israel's main ally, said it was "heartbr

World NewsApril 2, 2024

Magnitude 6.1 earthquake strikes northern Japan

An earthquake with a preliminary magnitude of 6.1 hit Iwate and Aomori prefectures in northern Japan on Tuesday, the Japan Meteorological Agency said. The epicenter was northern coastal part of Iwate Prefecture, the agency said, adding that a tsunami warning had not been issued. There were no reports of immediate damage. (Reuters)

World NewsApril 2, 2024

USTR takes issue again with S. Korean bills on network usage fees

The Office of the US Trade Representative has taken issue again with South Korean bills calling on foreign online content providers to pay network usage fees in a recent report, saying they could be "anticompetitive." On Friday, the office issued the 2024 National Trade Estimate Report on Foreign Trade Barriers, where it touched on the bills that have been pending at the National Assembly. US streaming giant Netflix and other foreign content providers could be subject to the fees in qu

World BusinessApril 2, 2024

[Graphic News] New York remains world’s top financial center, Seoul at 10th

New York easily remains the world’s top financial center, cementing its position for the past six years after it overtook London, in second place ever since, with Singapore ranked third, the Global Financial Centres Index 35 published by Z/Yen Group showed. Hong Kong remains in fourth place, followed by San Francisco nipping at its heels, helped by its strong role in financing tech. New York overtook London in 2018, after the United Kingdom voted to leave the European Union two years ear

World NewsApril 2, 2024

Pope overcomes health concerns to preside over a blustery Easter Sunday Mass in St. Peter's Square

ROME (AP) — Rallying from a winter-long bout of respiratory problems, Pope Francis led some 30,000 people in Easter celebrations Sunday and made a strong appeal for a cease-fire in Gaza and a prisoner swap between Russia and Ukraine. Francis presided over Easter Sunday Mass in a flower-decked St. Peter’s Square and then delivered a heartfelt prayer for peace in his annual roundup of global crises. In between, he made several loops around the piazza in his popemobile, greeting well-

World NewsMarch 31, 2024

IMF urges tighter Swiss regulation after UBS takeover of Credit Suisse

The IMF urged Switzerland on Thursday to strengthen its financial sector regulation as supervising UBS has become "more challenging" since it grew into a global banking behemoth after its takeover of Credit Suisse. Switzerland's biggest bank was strongarmed by the government into buying Credit Suisse last year over fears that the second largest lender in the country might go under and spark a global financial crisis. "Lessons from the CS (Credit Suisse) case should inform fur

World BusinessMarch 28, 2024

UK greenhouse gas emissions fell 5.4 percent in 2023: data

UK greenhouse gas emissions fell by 5.4 percent in 2023, largely due to a reduction in the amount of gas used in power stations, according to official data published on Thursday. Net emissions of all greenhouse gases were estimated to have been 384.2 million tonnes of carbon dioxide equivalent in 2023, compared to 406.2 million tonnes in 2022, the government's provisional figures showed. Carbon dioxide emissions decreased by 6.6 percent annually to 302.8 million tonnes, which represents a 5

World NewsMarch 28, 2024

Dutch government to launch plan to keep ASML in Netherlands

The Dutch government is expected to lay out initial plans on Thursday to keep the country's largest company ASML, from moving operations outside the Netherlands over concerns ranging from anti-immigration policies to infrastructure problems. Semiconductor equipment maker ASML, Europe's largest tech company, shocked the Dutch government into action after CEO Peter Wennink went public with complaints about policy, including ending a tax break for skilled migrants which would make it hard

World BusinessMarch 28, 2024

783m people face chronic hunger. Yet the world wastes 19% of its food, UN says

The world wasted an estimated 19% of the food produced globally in 2022, or about 1.05 billion metric tons, according to a new United Nations report. The UN Environment Programme's Food Waste Index Report, published Wednesday, tracks the progress of countries to halve food waste by 2030. The UN said the number of countries reporting for the index nearly doubled from the first report in 2021. The 2021 report estimated that 17% of the food produced globally in 2019, or 931 million metric tons

World NewsMarch 28, 2024

US slaps new sanctions against 6 N. Koreans, 2 entities for financing NK WMD programs

The United States on Wednesday imposed new sanctions on six North Korean nationals and two third-country entities for their role to help finance Pyongyang's weapons of mass destruction programs, the Treasury Department said. In coordination with South Korea, the department announced sanctions targeting agents of designated North Korean banks as well as companies that employ North Korean IT workers abroad, as it accused them of helping generate revenue for the recalcitrant regime in Pyongyan

North KoreaMarch 28, 2024