(AFP) - President Barack Obama will use an Asian tour beginning next week to bolster US alliances in the region at a time of increased geopolitical tension. Obama is scheduled to visit Japan, South Korea, Malaysia and the Philippines, and will be under duress to address maritime territorial disputes between US allies and China.Aides said Friday that the president would restate staunch US support for its friends, underline its role as a Pacific power, and seek to reassure the region that his Asia

Politics April 19, 2014

AFP) - Automaker Fiat-Chrysler said on Saturday that it would begin producing the iconic American brand Jeep in China from 2015 to meet demand in the world's largest car market.Fiat-Chrysler -- created by Italy's Fiat acquiring Chrysler of the United States -- will produce three Jeep sport utility vehicle (SUV) models in China, including one specifically designed for the Chinese market, the company said in a statement.The announcement came ahead of the Beijing auto show, which opens to the publi

Industry April 19, 2014

(AFP) - Investigators on Saturday arrested the captain accused of abandoning the South Korean ferry that capsized three days ago with 476 people on board, as divers finally accessed the submerged vessel and spotted bodies inside.Lee Joon-Seok and two of his crew were taken into police custody in the early hours of the morning, charged with negligence and failing to secure the safety of passengers in violation of maritime law.The 69-year-old captain has been severely criticised for abandoning his

Social Affairs April 19, 2014

Desperate search and rescue efforts for hundreds still unaccounted for in a deadly ferry accident in waters off South Korea's southwestern coast continued for a fourth day on Saturday, with the whole country clinging to dim hope of finding survivors.Hundreds of Navy and Coast Guard officers, along with civilian divers, have been battling strong underwater currents and low visibility to reach 273 people believed to be trapped inside the ferry Sewol that sank three days ago.More than 72 hours have

Social Affairs April 19, 2014

(AFP) - After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.The wobbly action of 2014 is still an open question: is this a correction, bear market or a bubble like the catastrophic dot-com boom and bust of 1999-2000.By some measures, segments of the tech sector look to be over the top, even after recent slumps."There are some astronomical valuations out there," says Roger Kay, an analyst who follows tech companies at Endpoint Technologies."That is a little troublesome be

Technology April 19, 2014

North Korea threatened on Friday to settle scores with South Korea over what it claims were atrocities against North Korean fishermen by the South Korean Navy.The move came hours after South Korea repatriated three North Korean fishermen and their boat, which crossed the western maritime border due to an engine failure.The South Korean Navy captured the fishing boat that sailed into South Korean waters Thursday evening after its repeated warnings to retreat back to the North's waters.The South K

North Korea March 28, 2014

WELLINGTON, New Zealand (AP) -- New Zealand is closing the books on a contentious, multibillion dollar program of asset sales.The government announced on Friday it would sell a minority stake in power company Genesis Energy for 736 million New Zealand dollars ($638 million). The company will list on the New Zealand stock market on April 17.Including Genesis, New Zealand has sold 49 percent stakes in three power companies and a 20 percent stake in Air New Zealand over the past year, raising a tot

World Business March 28, 2014

MACAU (AP) – ``The Grandmaster'' won best picture, best director for Wong Kar Wai and five other honors at the Asian Film Awards. Backstage, Wong and his star, best-actress winner Zhang Ziyi, were all smiles with their awards. But their thoughts were with the family of Ju Kun, a ``Grandmaster'' crew member who was a passenger on Malaysia Airlines Flight 370.Wong said that although he's happy for all the recognition the film's cast and crew have received, he regrets that a member of the team coul

Film March 28, 2014

THE HAGUE, Netherlands (AP) – Guus Hiddink will take over as Netherlands coach after the World Cup, when Louis van Gaal is stepping down, the country's football association announced on Friday.Hiddink will lead the Netherlands until the end of the 2016 European Championship in France and then be replaced by Danny Blind.Blind and former Manchester United and Real Madrid striker Ruud van Nistelrooy were appointed as 67-year-old Hiddink's assistants.Hiddink said he was honored to return for a secon

Soccer March 28, 2014

A sizable number of South Korea's top firms listed on the main and tech-heavy exchanges held their annual general shareholders' meetings Friday and received approval for the appointment of corporate directors while outlining their plans for the future.The Korea Securities Depository said a total of 497 listed companies whose fiscal year ended in December held their shareholders' meeting during the day.The companies include 157 firms listed on the main bourse KOSPI, 322 companies on the tech-lade

Industry March 28, 2014

South Korea finished well outside contention in the four-man bobsleigh on Sunday, the country's final competition at the Sochi Winter Olympics.A South Korean team, led by the pilot Won Yun-jong, had the combined time of 3:44.22 after its four races over the past two days. The foursome finished 3.62 seconds behind the championship team from Russia, led by the pilot Alexander Zubkov.A second South Korean team, with the pilot Kim Dong-hyun at the helm, ranked 28th among 30 teams after three races a

Olympic Games Feb. 23, 2014

International Olympic Committee president Thomas Bach on Sunday hailed the Sochi Games as "great", saying the response from the athletes was overwhelmingly positive.He praised President Vladimir Putin for playing an "important role" in the Games and said the Russian strongman never committed any act that was not in line with the Olympic Charter during the Games."We are close to the end of a great Olympic Winter Games. The response we get from all the different participants is overwhelmingly posi

Olympic Games Feb. 23, 2014

A year ago, North Korea vowed nuclear attacks to retaliate for U.S.-South Korean war games. But the start Monday of this year's joint military drills comes as Pyongyang allows wrenching reunions of elderly Koreans separated since the Korean War.As always with the rival Koreas, cold political calculations loom behind the scenes of pure emotion.The reasons for Pyongyang's about-face are seen as having more to do with the impoverished country's desire to drive a wedge between Seoul and Washington a

North Korea Feb. 23, 2014

Finance chiefs from the 20 largest economies agreed Sunday to implement policies that will boost world GDP by more than $2 trillion over the coming five years.Australian Treasurer Joe Hockey, who hosted the Group of 20 meeting in Sydney, said the commitment from the G20 finance ministers and central bankers was "unprecedented.''The world economy has sputtered since the 2008 financial crisis and global recession that followed. Progress in returning economic growth to pre-crisis levels has been ha

Feb. 23, 2014