Jan 7, 2018 World Business
Indians working abroad sent home $68 billion in 2015, making India the top remittance receiving country, surpassing China. Other top receiving countries for remittances from Asia include the Philippines, Pakistan, Bangladesh and Vietnam. Indians working abroad continue to send more money home than their counterparts from other countries, according to World Bank figures on migration and remittances. India topped the list with $68.91 billion in remittance inflows, followed closely by China at $63
Airlines with the best economy-class food and seats have been named by aviation consumer website Skytrax. South Korea’s largest airline Korean Air’s economy-class seats ranked fourth in the world, while the country’s second-largest airline Asiana ranked third in catering and second in seats. The survey was based on 19.87 million travelers from 105 countries and covered more than 320 airlines. It considered factors such as boarding procedures, the quality of service and the comfort of seats.
Dec 28, 2017World Business
BEIJING -- China has issued new rules increasing oversight of overseas acquisitions by its companies, as it seeks to reduce investment in assets ranging from golf courses and movie studios to football clubs.The rules are the latest attempt to stem the tidal wave of capital that has flown out of the country in recent years, a trend which regulators fear could threaten financial stability at home.(123rf)The country in August announced rules to restrict investment overseas in some previously encour
Dec 27, 2017World Business
A South Korean state-run agency said local companies have filed the third-largest number of patents related to artificial intelligence over the past 12 years. The Institute for Information and Communications Technology Promotion said its finding was based on patent applications for AI-related technologies in the US, Japan, China, the EU and South Korea from January 2005 to September this year. The US ranked No. 1 in terms of the number of AI patents, followed by Japan, South Korea and Germany.
Dec 26, 2017World Business
As the Christmas shopping season enters its final phase Friday, for the first time, a majority of Americans, 53 percent, have said they were very or somewhat likely to do their Christmas shopping online this year. This is the highest percentage since Gallup first asked the question in 1998. Meanwhile, the percentages of Americans shopping for gifts in department stores and discount stores have slowly been declining, but these still beat the internet as places Americans will shop for the holiday
Dec 18, 2017World Business
Seoul has ranked as the third most expensive location in Asia for expatriates, according to the latest cost of living survey by ECA International. Korea’s second-largest city Busan also placed 10th, according to the survey. Tokyo retained its crown atop the Asia-Pacific pack, as a financial hub. Hong Kong was No. 2. The survey was based on cost of living, salary, accommodations, taxes, labor laws, benefits and quality of life for international assignees in over 262 cities worldwide.
Dec 17, 2017World Business
Walt Disney Co. said Thursday it had reached a deal to buy 21st Century Fox for $52.4 billion (44.3 billion euros) in stock, solidifying its position as a producer of entertainment content as it faces new rivals from Silicon Valley.The deal will see Disney acquire film and television studios, cable entertainment networks and international TV businesses, bringing popular entertainment properties including X-Men, Avatar, The Simpsons, FX Networks and National Geographic into Disney's portfolio.21s
Dec 14, 2017World Business
NEW YORK (AFP) - Facebook, in a bow to transparency, has announced it plans to declare certain ad revenues in the country where they are made and not in Ireland, where it has a greater tax advantage. The social networking giant said the move was in response to pressure from governments and policy makers for greater visibility into sales made in their countries. “In simple terms, this means that advertising revenue supported by our local teams will no longer be recorded by our international headq
Dec 13, 2017World Business
Facebook has been named the best place to work in the US, according to a list released by Glassdoor, a career listing and employer review site. Global management consulting firm Bain & Company ranked as the second best place to work, followed by Boston Consulting Group, In-N-Out Burger and Google. The ranking was based on employee reviews, which touch on how satisfied employees are with the employer, CEO and other key workplace factors.
Dec 12, 2017World Business
South Korea ranked No. 4 among the easiest places in the world to do business, according to the “Doing Business 2018: Reforming to Create” report released by the World Bank. New Zealand was No. 1, followed by Singapore and Denmark. Starting a new business in New Zealand takes the fewest procedures (one) and shortest time to fulfill (0.5 day), according to the report. The ranking uses 11 indicators to measure aspects of business regulation across 190 countries worldwide. Of the top 20 economies
Dec 10, 2017World Business
The 2016 data hack on 57 million Uber riders and drivers is among the biggest ever thefts of online users’ personal information. Here are some previous cases: In 2013, Yahoo was hit by hackers that affected all 3 billion accounts, which was the biggest cyberattack in history, and another attack affected 500 million accounts in 2014. Both were revealed in 2016. In 2014, South Koreans scrambled to stop money being siphoned from their bank accounts after it emerged that data on 20 million credit
Dec 4, 2017World Business
ADELAIDE -- The world’s biggest lithium-ion battery has plugged into an Australian state grid, an official said Friday, easily delivering on Tesla Inc. chief executive Elon Musk’s 100-day guarantee.Musk promised to build the 100-megawatt battery within 100 days of the contracts being signed at the end of September or hand it over to the South Australia state government for free. (Yonhap)South Australia Premier Jay Weatherill announced Friday the battery began dispatching power into the state gri
Dec 1, 2017World Business
Beijing’s Zhongguancun has unseated San Francisco’s Silicon Valley as the top technology hub in the world, according to a report by the US-based business resource company Expert Market. Zhongguancun tech hub has become the top destination for the world’s brightest tech talents due to its favorable climate for early stage funding, good performance in startup output and the city’s affordable cost of living, revealed the Top Tech Cities in the World 2017 report. The ranking was based on factors su
Nov 30, 2017World Business
SAN FRANCISCO (AFP) - Facebook on Monday said stepping up the use of artificial intelligence to identify members of the leading social network who may be thinking of suicide. Software will look for clues in posts or even in videos being streamed at Facebook Live, then fire off reports to human reviewers and speed up alerts to responders trained to help, according to the social network. (123RF) “This approach uses pattern recognition technology to help identify posts and live streams as likely t
Nov 28, 2017World Business
South Korea's Myeongdong has been ranked world’s 8th most expensive retail district with annual rents at $914 per square foot, according to Cushman & Wakefield’s 2017 Main Streets Across the World retail report New York's 5th Avenue retained the most expensive main street in the world with annual rents at an average of $3,000 per square foot per year. Hong Kong's Causeway Bay ranked as Asia’s most expensive street with annual rents at $2,725 and placed second globally The report is based on re
Nov 26, 2017World Business