China's inflation rose in June but was well below the government's target in a sign of weak demand amid an economic slowdown.Consumer prices rose 2.7 percent over a year earlier, up from May's 2.1 percent gain but below the 3.5 percent official target for the year, the government reported Tuesday. The June figure was driven by a 4.9 percent rise in food costs.Pressure for prices to rise is relatively low in China because of weak demand, excess production capacity in many industries and lower cos

World Business July 9, 2013

South Korean stocks traded 0.31 percent higher late Tuesday morning, as large-cap firms narrowed gains from earlier sessions amid a foreign net selloff, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) inched up 5.61 points to 1,822.46 as of 11:20 a.m.Samsung Electronics narrowed its gains to advance 0.6 percent, with auto parts maker Hyundai Mobis staying almost flat. No. 1 mobile carrier SK Telecom lost 0.7 percent, with state-run electricity provider Korea Electric Power

July 9, 2013

One of two teenage girls killed in an Asiana jet crash at San Francisco International Airport might have been struck by an emergency vehicle responding to Saturday's crash, fire officials said on Monday.Fire Chief Joanne Hayes-White and Assistant Deputy Chief Dale Carnes both raised the possibility at a news conference with first responders. “There was a possibility one of two fatalities might have been contacted by one of our apparatus at one point during the incident,” Carnes said.San Mateo Co

World News July 9, 2013

South Korean stocks got off to a strong start Tuesday, buoyed by Wall Street gains overnight on signs that the world's No. 1 economy is improving as it starts earnings season, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.65 points, or 0.37 percent, to 1,823.50 in the first 15 minutes of trading. Top-listed companies were bullish, led by market heavyweight Samsung Electronics going up nearly 2 percent. Major banking group Shinhan Financial also gained 1 percent. T

July 9, 2013

South Korean stocks closed nearly 1 percent lower Monday, driven by a steep decline in Samsung Electronics Co., following the company's disappointing earnings estimates for the second quarter release last week, analysts said.The local currency sharply fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) finished down 16.46 points to 1,816.85. Trading volume was light at 299.5 million shares worth 3.48 trillion won (US$3.05 billion) with decliners far outstripping

July 8, 2013

South Korea's plan to buy 60 fighter jets has been temporarily put on ice as three competitors have failed to offer prices within Seoul's 8.3 trillion won ($7.2 billion) budget, further delaying the replacement of its aging fleet. Boeing's F-15 Silent Eagle, Lockheed Martin's F-35 stealth jet and the Eurofighter Tranche 3 Typhoon from the European Aerospace Defense and Space Company (EADS) participated in the bidding sessions from June 18 to July 5 to win Seoul's largest arms import deal. The De

Defense July 8, 2013

South Korean private aid groups are scurrying to resume their humanitarian assistance to the North, which has been virtually suspended amid inter-Korean tensions caused by the communist country‘s nuclear bomb test in February, sources said Monday.“Several groups are making internal preparations in order to resume their assistance projects,” an official of a local aid group told Yonhap News Agency. “Since the North’s offer to hold inter-Korean government talks last month, the country has shown it

North Korea July 8, 2013

South Korean stocks traded 1.25 percent lower late Monday morning, led by a sharp fall in shares of Samsung Electronics, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) declined 22.88 points to 1,810.43 as of 11:20 a.m.Top-listed tech heavyweight Samsung Electronics plunged more than 4 percent, with SK hynix dipping 2.6 percent. In contrast, Hyundai Heavy Industries, the world's No. 1 shipyard, climbed 3.6 percent. The local currency was changing hands at 1,151.75 won agai

July 8, 2013

Turkey‘s assertive foreign policy, promoting itself as a role model for the Muslim world, has received a setback after the military intervention that unseated Egypt’s Islamist president Mohamed Morsi, analysts say. Turkey‘s Islamic-rooted Justice and Development Party (AKP), which faced down the most widespread protests in its 10-year tenure, had forged close alliance with Morsi and his Muslim Brotherhood. The Egyptian army’s ouster of the country‘s first democratically elected leader has raised

World News July 8, 2013

About 40 people were still missing a day after a runaway train derailed in Quebec, igniting explosions and fires that destroyed a busy downtown district and killed five people. Police said a higher death toll was inevitable, and authorities feared the number might soar once they're able to reach the hardest-hit areas. Worries remained over the status of two oil-filled train cars. Canadian Prime Minister Stephen Harper compared the area to a war zone and said about 30 buildings were incinerated.

World News July 8, 2013

Nearly 91 percent of citizens in Seoul are exposed to second-hand smoking everyday with their daily exposure time averaging 13 minutes, a poll showed Monday.According to the survey of 1,000 citizens aged 19 years or older, 90.8 percent experienced passive smoking every day at the end of last year, down by 1.6 percentage points from four years earlier. They were exposed to second-hand smoking 1.4 times per day for 13 minutes on average.While their involuntary exposure came more frequently in outd

Social Affairs July 8, 2013

South Korea ranked 34th in gold holdings last month, marking its highest ranking ever, as its central bank has purchased the precious metal to diversify its foreign exchange reserves, data showed Monday.South Korea's gold holdings reached 104.4 tons valued at $4.79 billion as of end-June, accounting for 1.5 percent of the country's total FX reserves of $326.44 billion, according to the Bank of Korea (BOK).The BOK bought 20 tons of gold in February, following its previous four rounds of purchases

July 8, 2013