South Korea's exports post fastest expansion in 32 years as chip and car shipments surge

South Korea exports logged their sharpest expansion in 32 years in May, marking another robust month of shipments fueled by stronger consumer demand globally as many economies start to reopen. Asia's fourth-largest economy is the first major exporting economy to report monthly trade data that includes key IT products and the strength of its exports […]

European markets inch higher as U.S. data boosts recovery hopes

Global equities look to be heading for a seventh consecutive day of gains after first-time jobless claims in the U.S. fell to a new pandemic low of 406,000, according to Labor Department data. A host of business climate, economic sentiment and consumer confidence surveys for May are due out of the euro zone at 10 […]

Samsung family announces plans to pay off more than $10 billion of inheritance tax

The family of Samsung Electronics' late Chairman Lee Kun-hee announced Wednesday they will be paying off a massive inheritance tax bill of more 12 trillion Korean won (about $10.78 billion). Reuters reported in October that Lee, who passed away in October 2020, was the wealthiest stock owner in South Korea. SINGAPORE — The family of […]

European markets inch cautiously higher, tracking global sentiment

Hopes of a swift global economic recovery were boosted Thursday by data showing U.S. retail sales jumped 9.8% in March, outstripping consensus expectations as additional stimulus sent consumer spending soaring. European investors will have an eye on final euro area inflation figures for March, due for release at 10 a.m. London time, along with February's balance […]

India and Pakistan held secret talks to try to break Kashmir impasse

Top intelligence officers from India and Pakistan held secret talks in Dubai in January in a new effort to calm military tension over the disputed Himalayan region of Kashmir, Reuters reported. Ties between the nuclear-armed rivals have been on ice since a suicide bombing of an Indian military convoy in Kashmir in 2019 traced to […]

India's Covid-19 cases are rising again. One state is getting hit especially hard

India's infection cases have been rising since mid-February, but fatality rate remains relatively low. There are more than 580,000 total active cases in India, or about 4.78% of all positive cases, according to the health ministry's daily update on Thursday. Five states — Maharashtra, Karnataka, Kerala, Chhattisgarh and Punjab — account for 78.9% of all […]

India's plans to sell state-owned firms will drive the economy toward $5 trillion, tycoon says

India's government will have a disinvestment target of 1.75 trillion rupees (about $24 billion) for the fiscal year starting April 1, said Finance Minister Nirmala Sitharaman. That would include completing the privatization of state-owned companies such as Air India, Container Corporation of India and Shipping Corporation of India, among others. It would also involve a […]

China's services sector grows at slowest pace in nine months, private survey finds

China's services sector activity grew at its slowest pace in nine months in January, a private sector survey showed on Wednesday. The services sector, which had been slower to recover initially from the Covid-19 pandemic than the industrial sector, is more vulnerable to social distancing restrictions as authorities race to tackle new scattered cases. Authorities […]