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  • SEOUL, July 17- North Korea's economy expanded by 1.0 percent in 2014, the South Korean central bank said on Friday, with a drought expected to hobble growth in one of the world's most isolated countries this year. A drought could dent economic activity this year, as North Korea has said it is the worst it has seen in 100 years although Seoul has said it seems to be...

  • Jeanne Achille used to find business travel "really depressing" because she never got to sightsee in the places she was visiting. But these days, Achille, CEO of The Devon Group, which does public relations and marketing for tech firms, is "quite intentional" about flying in early for a business trip or staying over an extra day "to squeeze in a side trip, a spa visit, try...

  • Shareholders at construction company Samsung C&T will vote Friday on the proposed takeover of it by another Samsung company, Cheil Industries. The business empire's ailing patriarch Lee Kun- hee has been hospitalized since May last year and his son Lee Jae-yong is assuming a bigger leadership role but lacks a significant stake in flagship company Samsung...

  • WASHINGTON, July 15- The U.S. government on Wednesday said it had approved Lockheed Martin Corp to upgrade 134 U.S.-made F-16 jet fighters for South Korea with new mission computers, radars and other equipment in a deal worth an estimated $2.5 billion. South Korea initially chose the U.S. unit of Britain's BAE Systems Plc to do the upgrades, but canceled the deal in...

  • Asia Inc looks to post-sanctions Iran for demand spurt Wednesday, 15 Jul 2015 | 7:22 AM ET

    SEOUL/ NEW DELHI, July 15- From steelmakers to construction firms, industrial companies in Asia hope an end to sanctions in Iran can provide a new source of sorely-needed demand. Shares in GS E&C, which walked away from a $1.2 billion project in Iran five years ago as sanctions escalated, gained nearly 5 percent on Wednesday, and South Korea's construction index...

  • Asia ready to buy more Iranian oil when sanctions lifted Wednesday, 15 Jul 2015 | 4:29 AM ET

    *India, others set to increase Iran oil imports when allowed. NEW DELHI/ SINGAPORE, July 15- Asian refiners are set to buy more crude oil from Iran once they receive word on when sanctions will be lifted, expecting Tehran to price its oil competitively as it tries to rebuild market share in an oversupplied market. Iran has said its priority destination for selling its...

  • SEOUL, July 15- South Korea plans to construct liquefied natural gas bunkering terminals at some of its ports as part of a drive to dominate the market for building ships fuelled by both oil and gas. LNG-fuelled tankers and the bunkering markets to support them are expected to grow rapidly in Europe and China as restrictions on greenhouse gas emissions boost...

  • *Iran could add 200,000 bpd to oil market in short-term. SINGAPORE, July 13- Any nuclear deal between Iran and six world powers loosening sanctions against Tehran could flood an oversupplied oil market with more fuel, yet sectors like cement and steel would see a rise in demand as the country works to revitalise its economy. But even with a diplomatic agreement...

  • SEOUL, July 10- North Korea received enough rainfall in June to ease drought conditions that had been described by Pyongyang as the worst in a century, although parts of the country remain acutely short of water, the South Korean government said on Friday. The lack of rain is believed to have compounded chronic food shortages in North Korea, which has seen external...

  • Nissan to export Rogue for U.S. market from Japan plant Thursday, 9 Jul 2015 | 11:46 AM ET

    "The crossover segment, particularly small crossovers, is the hottest part of the automotive market right now," said Fred Diaz, Nissan sales and marketing chief for North America. Last October, also because of high demand for Rogue, Nissan began producing them at Busan for export to North America. A weak yen versus the dollar allows Nissan to take more profit per...

  • SEOUL, July 7- South Korean tech giant Samsung Electronics Co Ltd on Tuesday guided for weaker-than-expected second-quarter earnings, as a supply shortage plagued its latest smartphone launch and tepid demand from key markets likely undercut sales. The guidance suggests that Samsung, while on a gradual recovery path, will struggle to replicate the...

  • *China bounces on Beijing support, Hong Kong hammered. LONDON, July 6- Emerging market stocks flirted with their biggest fall in two years on Monday as fears that Greece could be heading back to the drachma reached fever pitch, China remained volatile and Fed minutes this week kept U.S. rate jitters simmering. Most of the damage, however, had been done in Asia where...

  • SEOUL, July 3- South Korea's Hanwha Chemical Corp said there had been an explosion at one of its plastic production plants, leaving five dead and one person missing. The explosion occurred during welding work to expand a waste water disposal facility at its No.2 plant, located in Ulsan, about 300 kilometers southeast of Seoul, the company said in a statement on...

  • SEJONG, South Korea, July 3- South Korea proposed on Friday a stimulus package worth 16.1 trillion won to jump-start Asia's fourth-largest economy as it fights to overcome the twin challenges of weak domestic and global demand. The government set an 11.8 trillion won supplementary budget, which included new spending plans of 6.2 trillion won, and 5.6 trillion...

  • SEOUL/ HONG KONG, July 2- Carlyle Group and MBK Partners are among the shortlisted bidders for Tesco PLC's South Korea business which is valued at about $6 billion, people familiar with the matter told Reuters on Thursday. Goldman Sachs' private equity arm and Affinity Equity Partners were also on the list, the people added, declining to be named due to the...

  • South Korea turns to cheap spot crudes as glut grows Thursday, 2 Jul 2015 | 1:05 AM ET

    SEOUL, July 2- Refiners in South Korea, the world's fifth-largest crude oil importer, have stepped up spot purchases this year, buying at prices depressed by an oil glut as they run their plants at high rates to catch strong processing margins. "Refining margins are firm thanks to rising demand triggered by weak oil prices, which has supported higher throughput...

  • July 1- Asia's largest economies showed hints of healing last month but euro zone factory growth remained tepid as Greek debt talks, and the country's possible departure from the bloc, dominated debate in Europe. Speculation Athens would fail to make June 30' s 1.6 billion euro repayment to the International Monetary Fund, heightening expectations Greece...

  • *Exports to U.S., China up, those to EU fall. SEOUL, July 1- South Korean exports declined for a sixth straight month in June, keeping policymakers under pressure as they sought to inject billions of dollars of fresh stimulus into an economy reeling from a one-two punch of weak domestic and global demand. "We'll keep seeing falls in exports throughout the third quarter...

  • *China activity surveys hint at some leveling out, no rebound. SYDNEY, July 1- Growth in China's services sector picked up in June while big Japanese companies planned to ramp up spending at the fastest pace in a decade, offering hope that prospects are improving for Asia's largest economies despite sluggish factory growth. Wednesday's data fueled expectations...

  • *Jan-May imports from Iran slightly over 1 mln bpd. A deal between Iran and six world powers would resolve a 12- year standoff over the Islamic nation's nuclear work in exchange for relief from sanctions, which could eventually send millions of barrels flooding into an already saturated market. Iran, the United States, Britain, France, Germany, Russia and China...