India tops global cryptocurrency adoption ranking for second consecutive year

SEOUL, September 12 (AJP) - India ranked first globally for cryptocurrency adoption for the second consecutive year, according to blockchain data analysis firm Chainalysis. Eric Jardine, an analyst at Chainalysis, noted that India has maintained a high rate of cryptocurrency adoption between June 2023 and July 2024 despite regulatory challenges and highlighted Binance as a key factor in this trend, according to a report by cryptocurrency media outlet Watcher Guru on Wednesday. Ja

September 12, 2024

Maldivian ministers resign following insults toward Indian prime minister

SEOUL, September 12 (AJP) - Two deputy ministers of the Maldives resigned months after being suspended for insulting Indian Prime Minister Narendra Modi with derogatory language, according to news reports. A Maldives government official said the two ministers resigned for personal reasons, AFP said Tuesday. One of the ministers had insulted Modi, calling him a "clown," after a video showing the Indian leader visiting Lakshadweep, an island north of the Maldives, was pos

September 12, 2024

Panagsama Beach in Philippines named Southeast Asia's best by Condé Nast Traveler

SEOUL, September 12 (AJP) - The Philippine Department of Tourism has announced that Panagsama Beach in Moalboal, Cebu, has been named the "Best Beach in Southeast Asia" by Condé Nast Traveler. The beach is renowned for its spectacular sardine run, a natural phenomenon that attracts visitors from around the world. Condé Nast Traveler cited the beach's unique marine ecosystem and natural environment as key factors in its selection. The publication stated th

September 12, 2024

Pope Francis arrives in Singapore, final leg of Asia-Pacific tour

SEOUL, September 12 (AJP) - Pope Francis landed in Singapore on Thursday, marking the final stop of his four-nation Asia and Oceania tour. It is the first papal visit to the city-state since Pope John Paul II's brief five-hour stopover in 1986. During his three-day stay, the pontiff's agenda includes meeting with Jesuit members, attending an official welcome ceremony at the Parliament House, and conversing with President Tharman Shanmugaratnam and Prime Minister Lawrence Won

September 12, 2024

Top 500 Chinese firms achieve record revenue growth

SEOUL, September 12 (AJP) -China's top 500 enterprises have achieved significant progress, setting new records for revenue growth, innovation, and structural optimization, according to a recent industry report released on Wednesday. The China Enterprise Confederation and China Enterprise Directors Association unveiled the 2024 ranking of the top 500 Chinese companies, reported by Xinhua News Agency. In 2023, the total revenue of these companies reached 110.07 trillion yuan ($

September 12, 2024

Chinese FM proposes initiatives for BRICS to tackle security threats together

SEOUL, September 12 (AJP) - Chinese Foreign Minister Wang Yi delivered a speech on Wednesday at the 14th meeting of high-ranking BRICS officials. The meeting held in Russia's St. Petersburg marked the first gathering of BRICs officials addressing security matters since the group's recent expansion. Wang, who is also a member of the Political Bureau of the Communist Party of China Central Committee, emphasized the importance of the meeting given the current global climate of

September 12, 2024

POSCO Future M secures 1.8 trillion won battery material deal amid EV slowdown

SEOUL, September 12 (AJP) — POSCO Future M, a battery materials subsidiary of steelmaker POSCO, has secured a contract worth about 1.8 trillion won ($1.3 billion) to supply high-nickel cathode materials for electric vehicle (EV) batteries. The company announced the deal in a regulatory filing on Wednesday but did not disclose the name of the customer or other details, citing a confidentiality agreement. The contract value represents about 38.8 percent of POSCO Future M'

September 12, 2024

Saudi Arabia, China push for deeper collaboration in energy and trade

SEOUL, September 12 (AJP) - Chinese Premier Li Qiang and Saudi Arabia's Crown Prince Mohammed Bin Salman met in Riyadh on Wednesday to discuss cooperation in key sectors including energy, investment, and trade. Premier Li also pushed for progress on free trade negotiations between China and the Gulf Cooperation Council (GCC), which includes Saudi Arabia and the UAE. GCC Secretary General Jasem al-Budaiwi stressed the importance of completing these trade discussions soon. However

September 12, 2024

Gulf stocks slide due to weaker oil and US inflation concerns

SEOUL, September 12 (AJP) - Most Gulf stock markets declined on Wednesday, weighed down by falling oil prices and investor anticipation of key U.S. inflation data that could impact the Federal Reserve's potential interest rate cut next week. OPEC revised its global oil demand growth forecast for 2024 downward on Tuesday, citing data from this year. This marked the second consecutive reduction in OPEC's outlook. A significant factor behind the revision was China, with OPEC cu

September 12, 2024

Pulmuone exports frozen gimbap to China

SEOUL, September 12 (AJP) — Pulmuone said Thursday that it has become the first Korean company to export frozen gimbap, Korean seaweed rice rolls, to major retail outlets in China. The fresh food company has launched its Tuna Gimbap in Sam's Club, which operates 49 stores in major Chinese cities. Pulmuone aims to export about 620,000 packs annually, including approximately 136,000 packs this month alone. The company sees significant potential in the Chinese market, c

September 12, 2024