Thursday 24 April 2014
 
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Korea

Over 300 missing after S Korea ferry sinks

More than 300 people were missing after a ferry sank off South Korea, the coastguard said on Wednesday, with a three-fold increase in the number of passengers unaccounted for put down to a miscalculation by officials. The ferry wa

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5 SKorea firms win $7.2bn Kuwait refinery orders

Five South Korean companies have won a combined $7.2 billion in orders from Kuwait National Petroleum Company to expand capacity and improve environmental standards at two oil refineries.   The contracts, which s

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Korean steel maker Posco set for revamp

Posco's new chief executive said the South Korean steelmaker will restructure non-steel businesses and not make any major investment in increasing steelmaking capacity, in a marked break from the strategy of his predecessor. K

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N Korea tanker loads oil at Libya rebel port

A North Korean-flagged tanker has finished loading crude at the Libyan rebel-held port of Es Sider but has not left the terminal, oil officials said on Monday, after the government threatened to bomb the ship. Tripoli has said it

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Libya authorises use of force against Korean tanker

Libya's defence ministry has issued orders to its military authorising the use of force to stop a North Korea-flagged tanker loading crude oil sold by armed rebels seeking to bypass the Tripoli government, state media said on Sunday.

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China draws red line on North Korea

China declared a "red line" on North Korea on Saturday, saying that China will not permit chaos or war on the Korean peninsula, and that peace can only come through denuclearization. China is North Korea's most impor

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Korean telco not to bid for Tunisie stake

South Korean telecoms firm KT said on Friday it had decided not to bid for a stake in state-owned Tunisie Telecom, but gave no reason why. KT said last year it was in an early stage of talks to buy the 35-percent stake in Tunisie

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LED manufacturing facility to be set up in Qatar

Qatar Intermediate Industries Company (Alwaseeta) has signed a deal with Qatar Korea LED Consortium (QKLC) to set up a LED lighting systems manufacturing facility in the country, said a report. Under the joint venture agreement, A

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Asia's manufacturers buoyant at end 2013

Asia's manufacturing sector ended 2013 on a strong note, with expansion hitting multi-year highs in export-driven Japan and Taiwan, but signs of moderation in China raises concerns about the outlook for the new year. Both offi

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Adnoc delivers crude to Korea storage unit

Abu Dhabi National Oil Company (Adnoc) has delivered two million barrels of crude to South Korean storage facilities, the first such shipment by the UAE firm after it leased the space to store six million barrels, South Korea's energy minist

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