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Yen hits 34-year low against dollar
Yen hits 34-year low against dollar
Economy
by  AFP

The yen hit a 34-year low against the dollar on Wednesday, just over a week after the Bank of Japan announced a much-anticipated interest rate hike in a shift away from years of ultra-loose monetary policy. While central banks around the world aggressively hiked rates to tackle soaring inflation, the Bank of Japan stuck to its ultra-loose policies, driving down the yen.

Hyundai to invest more than $50 bn in South Korea in major EV push
Hyundai to invest more than $50 bn in South Korea in major EV push
Technology
by  AFP

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.