Italy's Parliament on Saturday re-elected Giorgio Napolitano to an unprecedented second term as president, after party leaders persuaded the 87-year-old to serve again in hopes of easing the hostility that has thwarted formation of a new government.Napolitano easily surpassed the simple majority required to be elected Saturday afternoon. He garnered 738 votes, far more than the 504 needed for victory for another seven-year mandate.Parliament had a much harder time. It took it three days of ballo

World April 21, 2013

South Korean stocks closed 1.24 percent lower Thursday due to rising concerns over the listed firms' earnings for the first quarter, analysts said. The local currency fell against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) shed 23.78 points to finish at 1900.06. Trading volume was moderate at 336.9 million shares worth 4.2 trillion won (US$3.75 billion) with losers outnumbering gainers 464 to 339.  "Investors sat on the sidelines as the first-quarter earnings of l

April 18, 2013

South Korean stocks closed slightly higher Wednesday in a volatile session as institutions' net buying of local equities offset losses from a foreign selloff, analysts said. The local currency fell against the U.S. dollar.In a choppy trading session, the benchmark Korea Composite Stock Price Index finished up 1.63 points, or 0.08 percent to 1,923.84. Trading volume was moderate at 408.1 million shares worth 5.29 trillion won (US$4.75 billion) with gainers outpacing losers 414 to 394."Institution

April 17, 2013

The Japanese ambassador to Seoul said Wednesday that Tokyo is prepared to sign a military intelligence pact with South Korea "at any time," urging Seoul to boost military partnership in the face of North Korea's bellicosethreats.  South Korea and Japan postponed the signing of the military intelligence-sharing agreement last July -- which would have been the first military pact between the two nations -- due to discontent among Koreans. Memories of Japan's brutal colonial rule on the Korean Peni

Defense April 17, 2013

South Korean stocks turned lower late Wednesday morning after opening higher, as foreigners opted to dump local shares on a net selling mode, analysts said.   The Korea Composite Stock Price Index (KOSPI) fell 4.88 points to 1,917.33 as of 11:20 a.m.  Heavy industries and construction companies plunged, with Doosan Heavy Industries nosediving more than 10 percent and No. 1 Hyundai Engineering & Construction tumbling around 6 percent.   In contrast, utilities and telecom shares trended in positiv

April 17, 2013

South Korean stocks closed almost unchanged Tuesday as hopes of the government's stimulus measures pared down morning losses following overnight falls on Wall Street, analysts said. The local currency gained against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) added 1.76 points, or 0.09 percent, to finish at 1,922.21. Trading volume was moderate at 377.5 million shares worth 4.78 trillion won (US$4.29 billion) with losers outnumbering gainers 464 to 350.  The KOSPI

April 16, 2013

South Korean stocks plunged 21.44 points, or 1.12 percent, on Tuesday morning, as economic worry was growing over the suspected terrorist attack in the United States and rising losses in techs and autos.   The benchmark Korea Composite Stock Price Index (KOSPI) fell to 1,899.40 as of 11:07 a.m. It marked the first time the index hovered below the 1,900 mark since November.   Tech blue chips lost ground, with market behemoth Samsung Electronics falling 1.05 percent and its smaller rival LG Electr

April 16, 2013

South Korean stocks closed a tad lower Monday, as worse-than-expected Chinese growth data weighed down investor sentiment, analysts said. The local currency sharply gained against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) added 3.78 points to finish at 1,920.45. Trading volume was moderate at 323.1 million shares worth 4.14 trillion won (US$3.69 billion) with gainers outnumbering losers 457 to 343.   "China's lower-than-expected growth weighed down on the KOSPI,

April 15, 2013

South Korean stocks traded 0.82 percent lower late Monday morning, dented by losses in large-cap exporters, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) slid 15.81 points to 1,908.42 as of 11:20 a.m.  Shares of top-cap Samsung Electronics lost 0.53 percent, with flat panel giant LG Display dipping more than 2 percent.   Local blue-chip zinc smelter Korea Zinc plunged 13 percent on a market forecast of gloomy quarterly results.  In contrast, telecom shares gained groun

April 15, 2013

North Korea on Sunday denounced an offer of dialogue by South Korean President Park Geun-hye to defuse tensions on the Korean Peninsula as a "cunning ploy," implicitly rejecting any dialogue with Seoul for the time being.  The North's Committee for the Peaceful Reunification of Korea made the remarks days after Park offered to engage in dialogue with Pyongyang, saying she was willing to "activate the trust-building process" on the peninsula.  Park offered talks as operations at an inter-Korean i

North Korea April 14, 2013