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  • South Korea unveils plans to grow as global yuan hub Friday, 31 Oct 2014 | 2:00 AM ET

    SEOUL, Oct 31- South Korea will launch direct trading between the yuan and the won in December and adopt a series of measures to make the country an international hub for growing yuan businesses, the government said on Friday. South Korea will be the third country outside China to host direct trading of the yuan against its own currency after Russia and Japan, with...

  • Japan stocks soar 5 percent, yen falls on stimulus Friday, 31 Oct 2014 | 1:41 AM ET

    SEOUL, South Korea— Japan's stock index surged 5 percent and the yen slid against the dollar Friday after the Bank of Japan unexpectedly announced new stimulus to boost a flagging economic recovery. The Bank of Japan's stimulus announcement came after economic data released in the morning showed that Japan's economy remained in the doldrums following a...

  • SEOUL, South Korea— Nikkei jumps 5 percent, other Asian stocks up after Japan announces more stimulus; yen slides.

  • Asia stocks gain after robust US growth report Friday, 31 Oct 2014 | 12:05 AM ET

    SEOUL, South Korea— Asian stocks climbed Friday after strong U.S. economic growth and upbeat earnings sent Wall Street higher. KEEPING SCORE: Japan's Nikkei 225 jumped 1.7 percent to 15,921.26 and Hong Kong's Hang Seng advanced 0.9 percent to 23,902.57. Stocks in mainland China, India and Southeast Asia also rose.

  • The U.S. company, which is expected to get more than $1 billion from the planned sale, and Hyundai are working with separate investment banks on the deal, the person said. GE's spokesman in South Korea, Bill Joh, declined to comment on the matter, while representatives at Hyundai could not be immediately reached for comment. In response to a local South Korean media...

  • Samsung vows changes after mobile profit plunges Thursday, 30 Oct 2014 | 1:31 AM ET

    SEOUL, South Korea— Samsung Electronics Co. admitted erring in its smartphone strategy and vowed Thursday to overhaul its handset lineup after profit from those devices tumbled last quarter to the lowest in more than three years. But its rapid success with a product category pioneered by rival Apple Inc. is undergoing an equally stunning reversal.

  • SEOUL, Oct 30- Samsung Electronics Co Ltd on Thursday said it would revamp its smartphone line-up to take on competitors in the rapidly growing mid-to-low range segment, after third-quarter earnings set it on course for its worst year since 2011.. The global smartphone leader's market share declined in annual terms for the third straight quarter in...

  • SEOUL, Oct 30- Samsung Electronics Co Ltd saw its July-September quarterly profit fall to the lowest level in more than three years, as a decline in earnings from its smartphone business set the South Korean giant on track for its worst year since 2011.. The global smartphone leader has lost market share in annual terms for the past two quarters, lagging behind...

  • Samsung vows changes after mobile profit plunges Wednesday, 29 Oct 2014 | 7:49 PM ET

    But its rapid success with a product category pioneered by rival Apple Inc. is undergoing an equally stunning reversal. Apple also eroded Samsung's leading market share in developed nations. Unlike Apple's take it or leave it approach, Samsung boasted that it gave more choice to consumers, launching at least two flagship models per year and making...

  • SEOUL, Oct 29- The Shanghai Stock Exchange is unaware of when a landmark trading scheme with the exchange in Hong Kong will launch, an exchange official said, adding that the two bourses had already "done their jobs" for the project to take off. Bo Que, executive vice president of the Shanghai Stock Exchange, said the exchange was optimistic. It is entirely up to the...

  • TOKYO/ SINGAPORE, Oct 29- China has boosted exports of steel qualifying for a generous tax exemption to some Asian countries, triggering accusations that mills in the world's biggest producer are taking advantage of the rebate to sell surplus steel cheaply. The steel in question contains boron, an element that can harden steel for uses ranging from...

  • TOKYO, Oct 29- Asian shares climbed to one-month highs on Wednesday, steered by a robust Wall Street on optimism over corporate earnings and prospects the U.S. MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.1 percent, led by a 1.8 percent rise in South Korean shares. European shares are expected to follow suit, with spreadbetters looking to...

  • LG Electronics profit surges on smartphone sales Wednesday, 29 Oct 2014 | 1:21 AM ET

    SEOUL, South Korea— South Korea's LG Electronics Inc. said Wednesday its third-quarter profit jumped 87 percent over a year earlier as smartphone sales set a record high. LG Electronics said its July-September net income reached 202.6 billion won on sales of 14.9 trillion won. Samsung Electronics, which is scheduled to report third-quarter earnings on...

  • WASHINGTON, Oct 28- The U.S. unit of BAE Systems Plc on Tuesday said the U.S. Air Force has halted some of the company's initial work on a project to upgrade South Korea's F-16 fighter jets amid ongoing talks about the second phase of the project. "We remain concerned about the lack of progress in the negotiations between the Republic of Korea and the U.S. Air Force on...

  • TOKYO/ SINGAPORE, Oct 29- China has boosted exports of steel qualifying for a generous tax exemption to some Asian countries, triggering accusations that mills in the world's biggest producer are taking advantage of the rebate to sell surplus steel cheaply. The steel in question contains boron, an element that can harden steel for uses ranging from...

  • Nigerian Stock Exchange joins World Federation Tuesday, 28 Oct 2014 | 10:04 AM ET

    JOHANNESBURG— The Nigerian Stock Exchange became a full member of the World Federation of Exchanges on Tuesday, just as it prepares to woo Asian fund managers. The federation sent an assessment team to Nigeria last month and the Nigerian Stock Exchange announced in a statement that it received a unanimous vote for admission as a full member at the general...

  • SEOUL, Oct 27- South Korean households are piling on debt at the fastest rate in eight years thanks to big-bang stimulus launched by the new finance minister- but as global growth cools the government risks scoring an economic own goal and inflaming deflationary pressures. That would be particularly ironic as Finance Minister Choi Kyung- hwan has repeatedly...

  • Oil's slide a blow, not a boon to Asian refiners Sunday, 26 Oct 2014 | 5:00 PM ET

    *Asian refiners bought crude through year-end at over $90. SEOUL/ SINGAPORE, Oct 27- A 25 percent slide in crude prices since June should mean a windfall for Asian refiners, but instead they are facing a major drag on profits. "As unexpected, they are causing earnings shocks," said Andrew Yoon, a senior analyst at Daishin Securities, noting the knock-on impact that cuts...

  • SHANGHAI, Oct 24- Australia, Indonesia and South Korea skipped the launch of a China- backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders. China's $50 billion Asian Infrastructure Investment Bank is seen as a challenge to the World Bank and Asian Development Bank,...

  • Stronger won hits Kia Motors 3Q profit Friday, 24 Oct 2014 | 12:23 AM ET

    SEOUL, South Korea— South Korea's second-largest car maker Kia Motors Corp. said Friday its third-quarter income plunged 27 percent from a year earlier as a stronger won dented profit. The earnings come a day after Kia's bigger affiliate Hyundai Motor Co. also said the stronger local currency hurt its last quarter's earnings while Japanese rivals including...