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South Korea delays smog tax amid pressure from car makers SEOUL: South Korea has delayed a proposed tax on vehicle carbon emissions by over five years to the end of 2020, amid pressure from domestic and US car makers who fear the levy would curb sales. But the country confirmed it would push ahead with plans to begin what will be the world's second-biggest carbon emissions trading scheme from the start of 2015, as it battles to cut greenhouse gas emissions in 2020 to 30 percent below business-as-usual levels. South Korea is one of the world's top 10 carbon producers, so any steps it takes to curb emissions are key to global efforts to combat greenhouse gases in the environment. Finance minister Choi Kyung-hwan said in a meeting with other ministers on Tuesday that the so-called smog tax, which has already been postponed by more than two years, would place too much of a burden on industry in the country ...

Japan PM to reshuffle cabinet in bid to re-energise TOKYO: Japanese Prime Minister Shinzo Abe is expected to reshuffle his cabinet on Wednesday in a bid to re-energise his economic and security agenda after once stellar approval ratings began to wane.The staunch conservative had enjoyed sky-high public support when he came to power in December 2012 promising to kick-start Japan's sputtering economy.But a series of bruising battles over a consumption tax hike and an unpopular move to water-down the pacifist constitution have taken some ...
Chinese home prices drop again in August BEIJING: Chinese home prices fell again in August from the previous month, two private surveys showed, suggesting the housing market was slowing further despite efforts by the authorities to lift the sector. Prices of new homes in 288 cities fell 0.3 percent in August from July, the fifth consecutive drop on a monthly basis, a poll by real estate services firm E-House China Holdings Ltd showed. Compared to a year before, home prices in August ...
Japan Finance Minister Aso says economy's recovery trend remains intact TOKYO: Japanese Finance Minister Taro Aso said on Tuesday that the economy remains in a recovery trend, following a slew of economic indicators that cast some doubt about the strength of a rebound from April's sales tax hike. Aso also told reporters that the government must continue to stick to its aim of achieving fiscal consolidation after a cabinet reshuffle expected on Wednesday.Copyright Reuters, 2014 ...
Fukushima workers to sue TEPCO for danger pay TOKYO: Workers employed in decommissioning the crippled Fukushima nuclear power plant are to sue operator Tokyo Electric Power and some subcontractors, demanding millions of yen in unpaid danger money, their lawyer said Tuesday.The four men, of whom two are still working at the Fukushima Daiichi plant, will demand the companies pay a total of 65 million yen ($620,000), mostly in hazard allowances.The workers, whose ages range from those in their 30s to their 60s, say ...
Australia PM says 'extreme force' justified against IS SYDNEY: Prime Minister Tony Abbott on Tuesday said "extreme force" was justified in battling Islamic State militants as he played down reports that an Australian plane delivering humanitarian aid in Iraq came under fire.Australia will "in coming days" join ally the United States in an international effort to transport weapons to Kurdish forces fighting IS extremists in northern Iraq.It has also been conducting humanitarian air drops to the besieged town of Amerli.While Abbott has insisted ...
China calls for Britain to scrap Hong Kong inquiry: report LONDON: Chinese authorities have demanded Britain drop an inquiry into the progress of democratic reforms in Hong Kong, accusing it of "highly inappropriate" interference in its affairs, the BBC reported Monday.The broadcaster said it had seen a letter from China's Foreign Affairs Committee to its British counterpart condemning the probe into the state of democracy since Hong Kong was handed over to Chinese control in 1997.The report emerged after pro-democracy activists vowed to launch a ...

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Annual2013/14
Foreign Debt $61.805bn
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MonthlyJune
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WeeklyAugust 28, 2014
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