Latest News

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.

Asian markets mixed as traders assess latest rally, eye data and earnings
Asian markets mixed as traders assess latest rally, eye data and earnings
Economy
by  AFP

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
Labour crunch forces Croatia to open doors to Asian workforce
Economy
by  AFP

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.