South Korea will aim to secure critical mineral imports and boost trade ties with Africa as President Yoon Suk Yeol hosts dozens of heads of state from the continent at a major summit on Tuesday.
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Volkswagen's 2023 profits rise, outlook for this year cautious
German auto giant Volkswagen on Wednesday reported a forecast-beating rise in profits for 2023, boosted by higher vehicle deliveries, but gave a cautious outlook for this year. Looking ahead, the German auto giant expects vehicle deliveries to advance in 2024, but by up to just three percent, due to tougher international competition and potential supply chain problems.
Cathay Pacific 'is back' with first annual profit since 2019
Hong Kong carrier Cathay Pacific on Wednesday reported its first annual net profit in four years, citing a surge in demand as it emerges from the impact of the financial hub's Covid isolation. "The year was characterised by a notable surge in travel demand following three years of pandemic-related restrictions."
Cathay Pacific reports first annual profit since 2019
Hong Kong carrier Cathay Pacific on Wednesday reported its first annual net profit in four years, citing "significant pent-up demand for travel" following the pandemic.
Most markets track Wall St gains as US data fails to damp rate hopes
Asian markets mostly rose in line with Wall Street on Wednesday as forecast-beating US inflation data did little to dent expectations that the Federal Reserve will begin cutting interest rates this year.
Boeing says employees must take 'immediate' action on safety measures
US aeronautics giant Boeing, facing increased scrutiny after a series of safety incidents and manufacturing issues, is directing employees to take "immediate actions" to improve operations, according to a message the company sent to its workforce Tuesday.
Britain vows to build new gas power stations
British Prime Minister Rishi Sunak's government pledged Tuesday to build new gas-fired power stations to boost energy security, drawing criticism over his climate policies before this year's general election.
EU must adapt to warming continent: officials
EU countries need to step up preparedness for global warming after 2023 burned its way into history books as the hottest year on record, European Commission officials said Tuesday. "Europe is the fastest warming continent since the 1980s -- the warming here was about twice the global rate," commission vice president Maros Sefcovic said.
US consumer inflation up unexpectedly in February
Consumer inflation posted a surprise acceleration in February, US government data showed Tuesday, a development that could give policymakers pause as they mull the right time to start interest rate cuts. Analysts expect the Federal Reserve to focus on underlying inflation when deciding the best time to start reducing rates.
Germany launches major subsidy scheme for greener industry
Germany on Tuesday launched what it called "an innovative" multi-billion-euro subsidy scheme aimed at turbocharging investments that will make industrial production in Europe's top economy more climate friendly.
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