S. Korea starts 2nd round of FTA talks with Israel

South Korea has started the second round of free trade talks to discuss ways to boost bilateral economic exchanges and investment, the trade ministry said Sunday.   The FTA talks that started in Jerusalem earlier in the day will run through Thursday, according to the Ministry of Trade, Industry and Energy.   The first round of negotiations took place in Seoul in June, seven years after the two countries began discussions on starting FTA talks in 2009.   FTA negotiations between Seoul and Jerusal

Dec. 11, 2016

Eurozone inflation at highest level since April 2014

BRUSSELS (AFP) -- Eurozone inflation rose to a two-and-a-half-year high in November as Europe inched away from very low consumer prices that have threatened an already fragile economic recovery.The level matched forecasts by analysts and will come as a relief to the European Central Bank which has embarked on a highly controversial and massive stimulus programme to boost inflation.The Eurostat statistics agency on Wednesday said consumer prices in the 19-country currency bloc rose by 0.6 percent

Nov. 30, 2016

OPEC closer to deal to cut oil output, sparking price rally

VIENNA (AP) -- With Saudi Arabia declaring a "critical day" for OPEC, oil ministers of the cartel moved closer Wednesday to end infighting and reach an agreement to cut output for the first time in eight years.The price of oil rallied as chances grew that the 14-nation group will agree on individual quotas for its members _ the international benchmark for crude oil soared $3.22 to $49.60 a barrel.An OPEC decision to cut production could have an impact on consumers, as oil price increases feed in

Nov. 30, 2016

ECB Warns of Market Correction as Political Instability Spreads

FRANKFURT (Bloomberg) -- The European Central Bank warned that the risk of an abrupt global market correction on the back of rising political uncertainty has intensified, posing a threat to banks, stability and economic growth.“More volatility in the near future is likely and the potential for an abrupt reversal remains significant,” the central bank said in its twice-yearly Financial Stability Review published on Thursday.“Elevated geopolitical tensions and heightened political uncertainty amid

Nov. 24, 2016

ADB head says continued engagement in Asia good also for US

MANILA (AP) -- Continued engagement by the United States with Asia under President-elect Donald Trump would be good for both the region and America, the head of the Asian Development Bank said Thursday.Takehiko Nakao, who began his second term as president of the Manila-based development bank on Thursday, also said there is a strong case for regional agreements to liberalize trade and investment despite Trump's threat to withdraw from the 12-nation Trans-Pacific Partnership. Nakao made the comme

Nov. 24, 2016

Time magazine picks 100 most influential photos of all time

A single drop of milk. A newborn baby. The ravages of war and terrorism. The defiance of those who protest and the fear of those entrapped.      All are included in a multimedia project featuring Time magazine's most influential images of all time, released Thursday through a new book, videos and a website.      Many of the photos or frames from films are familiar, engrained in the collective conscious, including the Pulitzer Prize-winning ``Falling Man,'' taken on 9/11 by Richard Drew of The As

Nov. 17, 2016

GE, Baker Hughes create powerful new player in energy sector

General Electric and Baker Hughes are joining their oil and gas businesses to create a powerful player in an energy sector buffeted by years of weak prices. The deal could give the new company, which will be called the ``New'' Baker Hughes, more leverage both in technology, and with oil drillers that are cutting back on contracts with oilfield service companies like Baker Hughes.  Baker Hughes is the smallest of the big three oilfield services companies. It has a market capitalization less than

Oct. 31, 2016

Eurozone growth stable as inflation picks up

Economic growth in the eurozone remained low but stable in the third quarter as inflation rose to a 27-month high amid fears over Brexit and major elections in France and Germany.The Eurostat statistics agency said growth in the eurozone remained stable in July to September, to 0.3 percent, which was on par with analysts surveyed by Factset, a data company.Analysts said the expansion remained low, however, and came on the back of France that shook off a contraction earlier in the year to expand

Oct. 31, 2016

Amazon launches full on-demand music streaming service in US

NEW YORK (AFP) -- Online giant Amazon launched an expanded on-demand music streaming service in the US Wednesday, taking on the likes of Spotify and Apple Music with a cut-price offer for users of its Echo speakers.Amazon Music Unlimited will offer "tens of millions of songs" to subscribers, the company said, a step up from the two million available on its existing Amazon Prime streaming service.The new service costs $9.99 a month -- the same as rivals Spotify Premium, Apple Music and Google Pla

Oct. 12, 2016

Sony tapping virtual reality with PlayStation headset

TOKYO (AFP) -- Sony is set to launch its new virtual reality headset, joining Facebook, Samsung and Google in a market that analysts say could boost the global gaming sector.The electronics giant -- which has been leaning on its videogames business to claw back to profitability -- will start selling its PlayStation virtual reality (PSVR) headset on Thursday in home market Japan and North America.Priced at $399, the headset is significantly cheaper than rival offerings and Sony is hoping the gadg

Oct. 12, 2016

US economy grew at 1.4 percent rate in spring

The US economy expanded at a slightly faster pace in the spring than previously reported, aided by new-found strength in business construction.The Commerce Department said Thursday the gross domestic product, the broadest measure of the economy, expanded at an annual pace of 1.4 percent in the April-June quarter. That is up from a previous estimate of 1.1 percent growth. Much of the upward revision reflected an increase in spending on structures such as office buildings.The modest second quarter

Sept. 29, 2016