Seoul, May 10 (IANS) The confirmed strike by unidentified objects on a South Korean-operated cargo vessel in the Strait of Hormuz is expected to give Seoul grounds to consider joining U.S.-led missions aimed at safeguarding freedom of navigation in the strait, experts said on Sunday.Releasing the results of a government investigation, the foreign ministry said two “unidentified flying objects” were confirmed to have struck the cargo vessel, the Namu, one after the other in the Strait of Hormuz l…
Latest U.S. News & Updates
Seoul, May 3 (IANS) The number of South Korean-listed companies whose market capitalisation surpassed 1 trillion won ($679.7 million) exceeded 400 for the first time this year, following a dramatic pre-Middle East-conflict recovery in the stock market, data showed on Sunday.The number of companies listed on the local bourse, including preferred shares, with a market capitalisation of over 1 trillion won stood at 405 as of Wednesday, according to the data from the Korea Exchange, South Korea’s ma…
Seoul, April 27 (IANS) The total market capitalisation of companies listed on the local stock market surpassed 6,000 trillion won ($4.08 trillion) for the first time on Monday, boosted by anticipation for the semiconductor sector, industry data showed.The combined market capitalisation of companies listed on the country’s three stock bourses stood at 6,047.9 trillion won as of early Monday morning, according to the data from the Korea Exchange (KRX), South Korea’s main bourse operator, reports Y…
Seoul, April 19 (IANS) The world is experiencing two different wars at the moment — the Middle East and the artificial intelligence (AI) war — Seoul’s industry minister has said.The Middle East war may seem like a more imminent threat as it is being directly witnessed, but winning the AI war is much more important for South Korea as it may very well determine the future of the country, Kim Jung-kwan, minister of trade, industry and resources, said in a recent exclusive interview with Yonhap Ne…
Seoul, April 13 (IANS) South Korean stocks traded lower on Monday as investor concerns grew over a prolonged conflict in the Middle East after the U.S.-Iran peace talks failed to make progress, while U.S. President Donald Trump threatened a blockade of the Strait of Hormuz.The benchmark Korea Composite Stock Price Index (KOSPI) fell 68.15 points, or 1.16 percent, to 5,790.72 as of 11:20 am (local time), reports Yonhap news agency.President Trump announced a blockade of Iranian ports following ma…
Washington, April 7 (IANS) The strategic Strait of Hormuz has emerged as a central flashpoint in the escalating U.S.-Iran standoff, with President Donald Trump calling it “a very big priority” even as he warned Tehran of severe consequences if negotiations fail. Addressing a crowded White House press conference, Trump underscored the vulnerability of the narrow oil chokepoint, saying it could be disrupted with minimal effort. “To close the strait, all you need is one terrorist that some…
Kathmandu, April 5 (IANS) Citing ongoing disruptions in petroleum supplies due to the conflict in West Asia, the Nepali government has decided to implement a two-day weekend for government offices and educational institutions.Under the new arrangement, public holidays will now be observed on Saturdays and Sundays for government offices and educational institutions. Minister for Education, Science and Technology, Youth and Sports, and government spokesperson Sasmit Pokharel said that a Cabinet me…
Seoul, March 30 (IANS) South Korean stocks traded markedly lower on Monday, led by a decline in large-cap tech shares, as an intensifying conflict surrounding Iran deepened concerns about global oil supplies and market uncertainties.The benchmark Korea Composite Stock Price Index (KOSPI) fell 216.2 points, or 3.98 per cent, to 5,222.67 as of 11:20 a.m (Seoul time), reports Yonhap news agency.The index opened nearly 5 percent lower and had been under downward pressure due to heavy foreign selling…
New Delhi, March 27 (IANS) Petroleum and LPG supply situation is under control and there is no shortage of petrol, diesel or LPG anywhere in the country, while retail outlets have sufficient stocks and are dispensing fuel without interruption, according to the government.As the world’s 4th largest refiner and 5th largest exporter of petroleum products, India’s domestic availability is structurally assured, according to Petroleum Ministry.While other nations are declaring “National Energy Emerg…
Seoul, March 18 (IANS) The United Arab Emirates (UAE) has pledged to supply crude oil to South Korea with top priority, President Lee Jae Myung’s top aide said on Wednesday, saying that a total of 24 million barrels of crude oil have been secured from the Gulf nation.Kang Hoon-sik, the presidential chief of staff, made the announcement in a briefing after returning from his trip to the UAE, amid concerns over global energy markets with the U.S.-Israeli attack on Iran and Tehran’s retaliatory str…