Breaking News, Business, Financial and Economic News, World News from EconoTimes

Become a contributor

Bookmark Econotimes

Economy

Mon, May 13, 2024 04:17 PM All times are UTC

Follow Series

©Econometrics LLC . All Rights Reserved.

S. Korea, Cambodia to expand export portfolio in 2nd round of free trade talks

Aug 31, 2020 19:18 pm UTC| Economy

South Korea is conducting the second round of free trade negotiations with Cambodia this week to expand its export portfolio to cushion the economic fallout from the pandemic. According to the Ministry of Trade,...

Online transactions lift S. Korean retail sales 4.4% in July

Aug 31, 2020 12:57 pm UTC| Economy

Retail sales in South Korea surged 4.4 percent in July from last year as online platforms enjoyed increased demand for groceries and home appliances. The 26 major offline and online retailers posted combined sales of...

China's big banks brace for surge in bad loans

Aug 31, 2020 11:31 am UTC| Economy

Four of Chinas five largest state-owned banks have increased provisions against bad debt to prepare for future losses due to the impact of the pandemic. All five suffered the biggest profit losses in at least a decade...

India PM urges entrepreneurs to boost the toy industry

Aug 31, 2020 08:50 am UTC| Economy

Prime Minister Narendra Modi said India could become a global toy hub and urged young entrepreneurs to team up for toys as part of the governments vocal for local initiative. According to Modi, while the global toy...

Stricter distancing to push S.Korea's small businesses into brink of bankruptcy: expert

Aug 31, 2020 06:56 am UTC| Economy

Yonsei University economics professor Kim Jung-sik warned that prolonged social distancing measures will push small business operators and private companies to the brink of bankruptcy, prompting an increase in bad loans,...

Most Japanese firms against holding Tokyo Olympics in 2021

Aug 31, 2020 02:55 am UTC| Economy

Over half of 12,857 Japanese companies that Tokyo Shoko Research surveyed between July 28 and Aug. 11 are against holding the Tokyo Olympics and Paralympics in the summer of 2021. Of the 53.6 percent not in favor of...

Coca-Cola to cut thousands of jobs due to plunging sales

Aug 29, 2020 07:32 am UTC| Economy

Coca-Cola Co joined a list of big US companies laying off thousands of workers after reporting a 28 percent slump in sales last month due to the effects of the pandemic. The company was offering voluntary redundancy to...

1311 1312 1313 1314 1315 1316 1317 1318 1319 1320

Economy

What should you do if you can’t pay your rent or mortgage?

The cost of living crisis is making it difficult for many people to pay their bills, including housing costs. Private sector rents have increased by an average 9% over the year to February 2024, and rising interest rates...

Some experts say the US economy is on the up, but here’s why voters don’t think so

Many Americans are gloomy about the economy, despite some data saying it is improving. The Economist even took this discussion to TikTok. When its US editor John Prideaux examined inflation, wage and employment numbers,...

Electric air taxis are on the way – quiet eVTOLs may be flying passengers as early as 2025

Imagine a future with nearly silent air taxis flying above traffic jams and navigating between skyscrapers and suburban droneports. Transportation arrives at the touch of your smartphone and with minimal environmental...

Electricity from farm waste: how biogas could help Malawians with no power

In sub-Saharan Africa, over 600 million people (more than 50% of the population) are without access to electricity. Malawi has one of the worlds lowest electricity access rates just 14.1% of the total population have...

High interest rates aren’t going away anytime soon – a business economist explains why

The Federal Reserve held interest rates steady at its May 1, 2024, policy meeting, dashing the hopes of potential homebuyers and others who were hoping for a cut. Not only will rates remain at their current level a...

Politics

Donald Trump Allegedly Offers Oil Execs a Deal to Scrap EV Incentives for $1B Donation

Former President Donald Trump reportedly proposed a $1 billion deal to oil executives, offering to end electric vehicle (EV) subsidies in return for campaign funding, according to The Washington Post. This move underscores...

Taiwan is experiencing millions of cyberattacks every day

Taiwan stands out as a beacon of democracy, innovation and resilience in an increasingly autocratic region. But this is under growing threat. In recent years, China has used a variety of grey zone tactics to pressure...

What the Supreme Court is doing right in considering Trump’s immunity case

Following the nearly three-hour oral argument about presidential immunity in the Supreme Court on April 25, 2024, many commentators were aghast. The general theme, among legal and political experts alike, was a...

US student Gaza protests: five things that have been missed

Coverage of the recent student encampments at more than 50 universities across the United States has focused on confrontations between opposing groups of protesters or between protesters and police. The spectacle of...

Will Solomon Islands’ new leader stay close to China?

Former foreign minister Jeremiah Manele has been elected the next prime minister of Solomon Islands, defeating the opposition leader, Matthew Wale, in a vote in parliament. The result is a mixed bag for former prime...

Science

IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects

About a trillion tiny particles called neutrinos pass through you every second. Created during the Big Bang, these relic neutrinos exist throughout the entire universe, but they cant harm you. In fact, only one of them is...

The Mars Sample Return mission has a shaky future, and NASA is calling on private companies for backup

A critical NASA mission in the search for life beyond Earth, Mars Sample Return, is in trouble. Its budget has ballooned from US$5 billion to over $11 billion, and the sample return date may slip from the end of this...

Dark matter: our new experiment aims to turn the ghostly substance into actual light

A ghost is haunting our universe. This has been known in astronomy and cosmology for decades. Observations suggest that about 85% of all the matter in the universe is mysterious and invisible. These two qualities are...

A Nasa rover has reached a promising place to search for fossilised life on Mars

While we go about our daily lives on Earth, a nuclear-powered robot the size of a small car is trundling around Mars looking for fossils. Unlike its predecessor Curiosity, Nasas Perseverance rover is explicitly intended to...

The rising flood of space junk is a risk to us on Earth – and governments are on the hook

A piece of space junk recently crashed through the roof and floor of a mans home in Florida. Nasa later confirmed that the object had come from unwanted hardware released from the international space station. The 700g,...

Technology

Philippines Tests Peso-Backed Stablecoin, Eyes Future Financial Innovations

In a groundbreaking initiative, the Bangko Sentral ng Pilipinas has commenced sandbox testing for the PHPC, a stablecoin pegged 1:1 to the Philippine peso. This pilot, a collaboration with Coins.ph, aims to evaluate the...

El Salvador Launches $360M Bitcoin Treasury Monitoring Site

El Salvador was the first country to accept Bitcoin as legal cash in 2021, and it now has over 5,700 BTC. Details of El Salvadors Bitcoin Monitoring Platform El Salvador has developed its proof-of-reserves website,...

U.S. and China Convene in Geneva to Tackle AI Risks

Geneva will witness significant discussions between U.S. and Chinese representatives focusing on the escalating risks associated with artificial intelligence technologies, highlighting the critical need for cooperation to...

South Korea, China's AliExpress, and Temu Forge Critical Safety Pact

South Korea and Chinas leading e-commerce platforms, AliExpress and Temu, are forming a pact to enhance safety standards across online markets. Rising safety concerns spark the move. Role of AliExpress and Temu in...

OpenAI's Sam Altman Proposes 'Universal Basic Compute' as AI Job Threat Looms

At a recent podcast appearance, OpenAIs CEO Sam Altman discussed universal basic compute, a radical idea that aims to change how we interact with AI technology. UBI to Universal Basic Compute: Altmans New Proposal In...