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South Korea current account surplus grows in September SEOUL: South Korea's current account surplus widened to $7.6 billion in September as exports grew and spending by Korean travellers overseas fell, state data showed Wednesday.The preliminary figure compared with a revised surplus of $7.2 billion in August, the central Bank of Korea said. The current account -- the broadest measure of foreign trade in goods and services -- has been in the black for 31 months in a row.Exports last month stood at $51 billion, compared to $48.9 billion a month ago and $50.6 a year ago, thanks to increased shipments of memory chips and steel, the BOK said.Imports rose to $43.3 billion, up from $41.6 billion a month ago and $42 billion a year ago.The services account, which includes spending on overseas trips, reported a deficit of $280 million, compared to $730 million in August and $200 million a year ago.The central bank forecasts South Korea -- Asia's ...


North Korea researching sea-based missiles: US think-tank SEOUL: North Korea has built a test facility that may be intended to develop a marine-based ballistic missile launch capability, using submarines or surface vessels, a US think-tank said Tuesday.While submarines carrying ballistic missiles could provide the North Korea with a survivable second-strike nuclear capability, the US-Korea Institute at Johns Hopkins University stressed that Pyongyang was likely "years" from achieving the required technology.Reviewing recent commercial satellite imagery, the institute said a new test stand had ...

South Korea spy agency says North hacking smartphones SEOUL: North Korea attempted to hack tens of thousands of South Korean smartphones this year, using malware disguised in mobile gaming apps, the South's spy agency said in a report submitted to parliament this week.The National Intelligence Service said more than 20,000 smartphones may have been infected by the apps that were posted on South Korean websites between May and September, an aide to lawmaker Lee Cheol-Woo of the ruling Saenuri Party told AFP on ...

Japan factory output posts surprise jump but recovery unclear TOKYO: Japan's September factory production posted its biggest rise in eight months, official data showed Wednesday, but the news failed to dispel doubts about the strength of the wider economy following a recent string of weak figures.Industrial production rose 2.7 percent on-month, reversing a drop of 1.9 percent in August, the Ministry of Economy, Trade and Industry said.That reading beat the median market forecast of a 2.2 percent rise and is the highest rise since ...

New Zealanders to vote on flag change WELLINGTON: New Zealand will hold a binding referendum in 2016 on changing the national flag, with Prime Minister John Key hoping to drop the current design featuring Britain's Union Jack in favour of a silver fern.Key announced a schedule Wednesday for New Zealanders to vote on the contentious issue, saying it was time for the former British colony to adopt a flag that was more recognisably Kiwi after more than a century with the existing ...

Sri Lanka must generate more revenue for fiscal consolidation: IMF COLOMBO: Sri Lanka needs to target higher revenue and simplify its tax system to meet its fiscal consolidation goal instead of squeezing expenditure, the International Monetary Fund (IMF) said late on Monday.The country's 2015 budget, unveiled by President Mahinda Rajapaksa on Friday, spelt out plans to cut the budget deficit to 4.6 percent of its gross domestic product (GDP) next year from an estimated 5 percent this year.Rajapaksa, who is also the country's finance minister, ...

China's Q3 property loans fall 23pc qtr/qtr as market cools BEIJING: Banks' lending to China's property sector fell 23.3 percent in the third quarter from the previous three months, Reuters calculations from central bank data showed on Tuesday, another sign of cooling momentum in the housing market.Chinese banks lent 570 billion yuan ($93.24 billion) to home buyers and property developers between July and September this year, easing from the second quarter's 743 billion yuan and down 5 percent from a year ago.Reduced demand for property ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln