Australian winemakers looking at alternative markets as exports to China plunge by 95%
Jan 04, 2021 23:21 pm UTC| Business Economy
Australian winemakers are now looking to the US, the UK, and India as alternative markets after China added an anti-dumping tariff of up to 212 percent on Australian wine. Consequently, Australias wine exports to China...
South Korea: Oil refineries loss due to COVID-19 has reached KRW5 trillion in 2020
Jan 04, 2021 10:56 am UTC| Economy
The whole world is still fighting the coronavirus pandemic and while many counties were able to deal with the crisis, it still has negative effects that cannot be easily repaired. For instance, the economy has suffered and...
S. Koreans gulp down imported wine at record pace
Jan 04, 2021 02:03 am UTC| Business Economy
South Korea imported a record-high US$239 million worth of wines from January to November, much higher than the $204 million for the whole of 2019 as more people drank and partied at home due to the pandemic. If the...
Malaysia to compensate Singapore $125.7 million for costs on scrapped high-speed railway project
Jan 03, 2021 23:20 pm UTC| Economy
Malaysia may have to pay as much as $125.7 million for costs already incurred by Singapore for a high-speed rail line after the two countries scrapped the project due to disagreement on Malaysias proposed changes. The...
S. Korea's exports drop by 5.4% to $512.8 billion in 2020
Jan 02, 2021 23:45 pm UTC| Economy
South Korea posted exports worth $512.8 billion in 2020, representing a 5.4 percent on-year plunge amid the pandemic, based on data compiled by the Ministry of Trade, Industry, and Energy. According to Industry Minister...
Tax-evasive Indian soft drink companies forced to shift to 40% rate
Jan 02, 2021 05:37 am UTC| Economy
Some soft drink companies in India will shift to the 40 percent tax rate after being found unqualified for the 12 percent tax bracket reserved for fruit pulp or juice. In August, regional beverage companies were placed...
Ford, Mahindra cancel India joint venture due to changing economic conditions
Jan 02, 2021 00:44 am UTC| Business Economy
Mahindra Mahindra and Ford Motor Company have been called off their much-awaited joint venture in India due to significant changes in the global business environment caused by the pandemic. The two carmakers have...
South Africa’s plan to move away from coal: 8 steps to make it succeed
Germany lowers voting age to 16 for the European elections
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects