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Political turmoil shakes South Korea's economy
After South Korea's president and his replacement were both deposed over a failed bid to impose martial law, deepening political turmoil is threatening the country's currency and shaking confidence in its economy. Choi has pledged to do all he can to end "this period of turmoil" and resolve the political crisis gripping the country.
Brazil views labor violations at BYD site as human 'trafficking'
Authorities in Brazil said Friday they are probing Chinese auto giant BYD and one of its contractors for suspected "trafficking" of Chinese workers building a factory in the South American country. The workers, employed by BYD contractor Jinjiang Open Engineering, were viewed as "victims of international trafficking for the purpose of labor exploitation," said the statement.
Tourists return to post-Olympic Paris for holiday magic
Holidaymakers are returning to Paris for winter holiday magic as the tourism industry rebounds, inspired by the successful Olympic Games and the re-opening of Notre Dame cathedral. With five billion viewers, the Paris Games were the most followed Games in television and social media history, according to the International Olympic Committee.
Ex-Olympus CEO found guilty over illegal drugs in Japan
A former CEO of Japanese optical equipment firm Olympus was found guilty on Friday of a drug charge, with a Tokyo court handing down a suspended jail sentence. He first joined the European arm of the Japanese firm in 2003 and became the company's second non-Japanese president.
Japan govt approves record budget for ageing population, defence
Japan's government on Friday approved a record budget for the next fiscal year, ramping up spending on social welfare, as the population ages, and defence to tackle regional threats. The 8.7 trillion yen approved Friday will help pay for measures to help attract recruits to Japan's Self-Defense Forces, and to improve relations between the US and Japanese militaries with locals in Okinawa.
Japanese shares gain on weaker yen after Christmas break
Japanese stocks rose Friday on a weaker yen after a muted day on Wall Street following the Christmas holiday. The yen was "marginally stronger" on Friday, Bloomberg reported, after data showed inflation in Tokyo rose for a second month in December.
Panama president rules out talks with Trump over canal threat
Panamanian President Jose Raul Mulino on Thursday ruled out negotiations with Donald Trump over control of the Panama Canal, which the US president-elect threatened to demand be returned to Washington. If Panama could not ensure "the secure, efficient and reliable operation" of the channel, "then we will demand that the Panama Canal be returned to us, in full, and without question," he said.
Oil leak in Peru tourist zone triggers 'environmental emergency'
Peru has declared an "environmental emergency" after an oil spill that triggered a clean-up operation on a stretch of northern coastline popular with tourists. The leak was detected last Friday on Las Capullanas beach when the crude oil was about to be loaded onto a tanker, the company said at the weekend without specifying the cause or amount of oil spilled.
Turkey lowers interest rate to 47.5 percent
Turkey's central bank lowered its key interest rate on Thursday, the first cut in nearly two years as it battles with double-digit inflation. The central bank began to raise interest rates last year to battle soaring prices, after President Recep Tayyip Erdogan dropped his opposition to orthodox monetary policy.
AFP
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