India's industrial production rises 3.1% year-on-year in September

SEOUL, November 14 (AJP) - India's industrial output grew 3.1 percent in September from a year earlier, exceeding market expectations amid rebounds in manufacturing and mining sectors, government data showed Wednesday. The Industrial Production Index (IIP) rose to 146.7 from 142.3 in September 2023, according to the Ministry of Statistics. The growth surpassed analysts' forecast of 2.5 percent. The September increase marks a recovery from August's 0.1 percent decline,

November 14, 2024

Young Poong, MBK file damages suit against Korea Zinc directors

SEOUL, November 14 (AJP) - Young Poong and MBK Partners have filed a lawsuit against Korea Zinc seeking about 700 billion won ($497.5 million) in damages for alleged financial mismanagement tied to an overpriced stock buyback and large public offering amid a battle over control of the world's largest smelter. According to legal sources on Thursday, Young Poong recently submitted a shareholder derivative lawsuit to the Seoul Central District Court, claiming Korea Zinc's direc

November 14, 2024

Japan premier undergoes second health check amid drowsiness concerns

SEOUL, November 14 (AJP) - Japanese Prime Minister Shigeru Ishiba underwent his second medical examination in less than a week, following an incident where he appeared to doze off during a parliamentary proceeding, raising questions about his health condition. "There is no impact on his official duties," Chief Cabinet Secretary Yoshimasa Hayashi told reporters in Tokyo on Wednesday, explaining that the 30-minute checkup was a routine procedure ahead of his scheduled attend

November 14, 2024

Korean shipbuilders vie for $13.9 billion U.S. naval maintenance market

SEOUL, November 14 (AJP) - South Korea's two largest shipbuilders, HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., are intensifying competition for the U.S. Navy's maintenance, repair, and operations (MRO) contracts, valued at about US$13.9 billion annually. The development follows U.S. President-elect Donald Trump's recent emphasis on maritime cooperation with South Korea during his conversation with President Yoon Suk Yeol on Nov. 7. "We need to closely c

November 14, 2024

Korean firms show strong interest in foreign hiring, favoring Vietnamese workers

SEOUL, November 14 (AJP) - A survey of 557 South Korean companies by career platform Saramin and foreign recruitment service Comate revealed that 73.4 percent are willing to hire foreign workers, with Vietnamese nationals being the most preferred at 31.3 percent, followed by Central Asians at 20 percent and Filipinos at 18.6 percent. The hiring intention was highest among companies with 50-100 employees at 74.5 percent, while 84.2 percent of companies experiencing labor shortages ex

November 14, 2024

Morocco sees nearly 15 million tourists in first 10 months

SEOUL, November 14 (AJP) - Tourist arrivals in Morocco reached 14.6 million by October, surpassing last year's total, according to Tourism Minister Fatim-Zahra Ammor on Wednesday. This growth is part of the 2023 - 2026 tourism roadmap, with a 19-percent rise in visitors from the previous year, including a 22-percent increase in foreign tourists and a 16-percent rise in Moroccans living abroad. In October alone, Morocco welcomed 1.5 million tourists, a 30-percent jump from the sa

November 14, 2024

Adani Group to invest $10 billion in US energy, infrastructure projects

SEOUL, November 14 (AJP) - India's conglomerate Adani Group plans to invest $10 billion in energy and infrastructure projects in the United States to strengthen the strategic business relationship between the two countries. Adani Group's Chairman Gautam Adani posted on X (formerly Twitter) that the group is "committed to leveraging its global expertise" and will invest in projects in the U.S. that are expected to create 15,000 jobs. This U.S. investment comes af

November 14, 2024

Philippines hit by unprecedented five typhoons in a month, more storms approaching

SEOUL, November 14 (AJP) - The Philippines faces an unprecedented series of typhoons, with four storms currently active in the Western Pacific region, as Typhoon Usagi approaches landfall in Cagayan province on Thursday, following typhoons Jami, Kongrey, Inching, and Doraji since late October, according to news reports. The Japan Meteorological Agency said this marks the first time since record-keeping began in 1951 that four typhoons have simultaneously operated in the region durin

November 14, 2024

Singapore proposes landmark law to block scam victims' bank transactions

SEOUL, November 14 (AJP) - Singapore has introduced a first-of-its-kind anti-scam bill to parliament that would grant police powers to restrict banking transactions of individuals likely to transfer money to suspected scammers, even when victims insist on proceeding despite warnings. Under the proposed law, police can issue restriction orders lasting up to 30 days, renewable five times for a maximum of six months, to block transfers, ATM access, and other account transactions, while

November 14, 2024

Japan blocks nuclear reactor restart over seismic safety concerns

SEOUL, November 14 (AJP) - Japan's nuclear regulator rejected the restart application for a nuclear reactor in central Japan, marking the first denial since the country overhauled its atomic power safety standards following the 2011 Fukushima disaster. The Nuclear Regulation Authority (NRA) concluded that the No. 2 reactor at the Tsuruga power station, operated by Japan Atomic Power Co., failed to meet safety requirements due to concerns about an active fault line running beneat

November 14, 2024