AFP
13876 articles published since 08 Mar 2022
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Hyundai to invest more than $50 bn in South Korea in major EV push
Hyundai on Wednesday revealed plans to invest more than $50 billion in South Korea by 2026, with a huge chunk dedicated to boosting the development and production of electric vehicles. Under the plan, Hyundai will create 80,000 jobs in South Korea and build three new EV factories, with the aim of increasing annual EV production in the country to 1.51 million units by 2030.
Asian markets mixed as traders assess latest rally, eye data and earnings
Markets were mixed in Asia on Wednesday following a negative day on Wall Street as observers warn the latest equities rally may have run out of steam, with investors looking for fresh catalysts to kickstart buying. All three main indexes on Wall Street ended in the red, having spent most of the day on the positive side of the line.
Labour crunch forces Croatia to open doors to Asian workforce
Durga Phuyal had hoped to start anew when she landed in Croatia, but the Nepali migrant faced an uphill battle to adjust to life in the Balkan country. In Nepal, Phuyal paid 7,000 euros in total for the various fees, documents and travel expenses before landing Croatia.
California looks to Europe to rein in AI
California, home to Silicon Valley, is eager to rein in the deployment of artificial intelligence and is looking to Europe's tough-on-big-tech approach for inspiration. "They are taking, essentially, a European approach on artificial intelligence - which is that we must ban the technology," said Carl Szabo, the general counsel of the association, which advocates for light touch regulation of tech.
Panama opens new cruise ship terminal at mouth of canal
Panama on Tuesday inaugurated a new cruise ship terminal at the mouth of the drought-hit Panama Canal, hoping to attract more tourists to the Central American nation. "The cruise terminal will generate new tourist routes... attracting more visitors to our country," Cortizo said at an opening ceremony.
Canadian farmers 'not satisfied' with EU trade deal
Canadian farmers say they are bewildered by the French Senate's rejection last week of the free trade agreement between the EU and Canada -- as agricultural producers and trade experts suggest that the accord mainly benefits Europeans over their North American counterparts. "We cannot reduce the free trade agreement to just agriculture," added Dufour.
Port blocked by Baltimore bridge collapse is key hub for US shipping
Baltimore's Francis Scott Key Bridge, named after the poet who penned the lyrics to the US national anthem, used to carry around 34,000 vehicles a day across one of the busiest harbors in the United States. The extended closure of the Francis Scott Key Bridge "will inevitably disrupt commercial activities and supply chains," the Maryland Chamber of Commerce said in a statement.
Vietnam appeals to US for 'market economy' status
Vietnam called Tuesday on the United States to recognize it as a market economy, saying stronger trade ties would benefit Washington in key areas as it seeks to diversify from China. Vietnam and China are among a dozen countries designated non-market economies by the United States, allowing tougher actions on exports.
Swiss Re warns insured disaster losses could double in a decade
Insured property losses could double in the coming decade due to climate change and more frequent and more intense severe weather events, reinsurance giant Swiss Re warned Tuesday. Swiss Re estimates that insured losses "could double within the next 10 years as temperatures rise and extreme weather events become more frequent and intense".
AFP
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