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Seoul, Toyko pledge to work with US to combat cyber crime SEOUL: South Korea and Japan on Saturday vowed to work closely with the US to combat cyber crime, after Seoul blamed North Korea for a crippling cyber attack on Sony Pictures.South Korea said it would share with Washington information "related to the cyber attack on Sony," which it said bore all the hallmarks of an onslaught on its own banks and media agencies by the North last year.Sony cancelled the Christmas Day release of "The Interview," a madcap romp about a CIA plot to kill North Korean leader Kim Jong-Un, after anonymous hackers invoked the 9/11 attacks in threatening cinemas screening the film."We express deep regret and condemn such North Korean activities as they seriously undermine the openness and security of cyber space and they constitute a crime that caused property losses," South Korea's foreign ministry said.In a statement, it also noted "the similarities between the attacks on Sony Pictures ...

China cuts red-tape for foreign bank branch openings, RMB business SHANGHAI: China has cut red-tape for foreign bank branch openings and entry into renminbi business, state media said on Saturday, the latest in a series of measures to liberalise the banking sector.The cabinet revised existing rules on Saturday, abolishing the requirement for foreign-owned and joint-stock banks to inject 100 million yuan ($16.08 million) or an equivalent in other currencies of working capital into a newly opened branch, the official Xinhua news agency reported.This should speed ...

Italy's Renzi wins confidence vote to pass budget in Senate ROME: Italian Prime Minister Matteo Renzi won a confidence vote to get his tax-cutting 2015 budget through the Senate on Saturday and it is expected to be definitively approved by the lower house of parliament next week.In a session that ended shortly before dawn, the Senate voted 162-37 to pass a financial package that includes tax cuts for low earners worth almost 10 billion euros ($12.3 billion), and a reduction in labour taxes for businesses.Italian ...

FCA recalls 3.3mn autos worldwide for Takata airbags NEW YORK: FCA US, formerly Chrysler, announced Friday it will recall 3.3 million older-model autos worldwide due to concerns about faulty Takata airbags.The move expands a previous recall that was implemented only in warm, humid climates in the US, responding to a demand from regulators for a nationwide US recall. About 2.9 million of the affected cars are in the US.Automaker FCA US said it would replace the driver's-side air-bag inflators made by Japanese auto ...

Singapore's PSA to jointly build Jakarta terminal SINGAPORE: Singapore's port operator PSA International has joined hands with Indonesia's largest port operator and two Japanese companies to build and operate a container terminal in the Indonesian capital of Jakarta, the companies said.Inadequate infrastructure development has for years been a major challenge for Indonesia, Southeast Asia's largest economy, and this partnership hopes to benefit from the urgent need for higher container port capacity.PSA will team up with PT. Pelabuhan Indonesia II (Persero) or IPC, ...

Three air-bag accidents at Boeing plant lead to extra safety measures SEATTLE: Workers at planemaker Boeing's Everett plant near Seattle are following extra safety measures after three air bag-related accidents, including the death of a technician last month, the company said on Friday.No one was seriously hurt when an air bag deployed on Dec. 13 as a seat supplier technician was working on a Zodiac Aerospace seat on a plane being readied for delivery, Boeing spokesman Wilson Chow said."We understand that employees are concerned," Chow said, ...

Thailand looking to Japan for railways revamp BANGKOK: Thailand is talking to Japan with a view to building three rail routes in the Southeast Asian country, a Thai minister said on Saturday, the latest move by its military government to kick-start long-delayed plans to modernise its aging rail network.Thailand wants three new lines connecting the capital, Bangkok, with cities in the east, west, north and northeast and Japan had expressed interest in undertaking the work, said Thai Transport Minister Air Chief Marshal ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln