Netflix, which spent more than 1 trillion won ($750 million) developing Korean content from 2015 to 2021, had previously said it would be expanding its South Korean show output, without giving details of spending plans. South Korea has cemented its status as a global cultural powerhouse in recent years, thanks in...

Tehran, Iran -- The West has intensified economic pressures on Iran in recent months and imposed nearly 800 sanctions on Iran since September last year alone, an Iranian expert has said.Mohsen Pakaeen, a foreign policy analyst, told the official Islamic Republic News Agency that US, Europe along with Canada and...

The firm was a regular on the Fortune 500 list of biggest American companies.

Paris, France--EU foreign policy chief Josep Borrell called on European navies to patrol the disputed Taiwan Strait, in a opinion piece in a French weekly published Sunday.Borrell's comments in the Journal Du Dimanche, echo comments he made last week when he stressed how crucial Taiwan is to Europe.Taiwan "concerns us economically,...

Credit Suisse pushed forward its result release to come out the day before those of UBS, as Switzerland's largest bank prepares to swallow its long-time main domestic rival. The results, which will be presented in a statement without the usual accompanying press conference and analyst discussion, will be closely studied...

Calling for an end to the "unconscionable" fighting in Sudan's capital, US President Joe Biden pushed for an "immediate and unconditional ceasefire". The president made the appeal while informing the country that the US military had evacuated American embassy staff from Khartoum, adding that the embassy was "temporarily suspending operations."

NEW YORK, US -  UN Secretary-General António Guterres issued a statement calling for urgent action to protect the environment and combat climate change on the occasion of International Mother Earth Day.Guterres highlighted the crucial relationship between humanity and the natural world, stating that our health and survival depend on maintaining...

Signaling its resolve to keep fighting price rises, the US central bank has said that interest rates may need to increase further, and remain high, to control inflation. The Fed has raised its benchmark lending rate nine times in a row to tackle inflation, which remains well above its long-term...

TEHRAN, IRAN- Iran said on Thursday it had "forced" a US submarine to surface as it was crossing the strategic Strait of Hormuz in the Gulf, a claim the Americans promptly denied.Admiral Shahram Irani, the commander of Iran's navy, told state TV the USS Florida nuclear submarine was "approaching and passing...

Starship, the most powerful rocket ever built, exploded during its first flight, but Elon Musk congratulated his SpaceX team on an "exciting" test of the spacecraft. The uncrewed rocket disintegrated minutes after successfully blasting off at 8:33 am Central Time (1333 GMT) from Starbase, the SpaceX spaceport in Boca Chica,...

Condemning the arrests of political opponents in Tunisia, the US government on Wednesday said that respect for freedom of expression and human rights are essential "to the US-Tunisia relationship." The condemnation follows the arrest on Monday of former Speaker of Parliament Rached Ghannouchi and the closure of the Ennahdha party...

HSBC's largest stakeholder Ping An says the split will improve business.

The streaming television giant reported a quarterly profit of $1.3 billion, in line with expectations, but said it had delayed a broad crackdown on sharing of account passwords "to improve the experience for members." As growth at Netflix cooled last year, the Silicon Valley based streaming company focused on creating...

The bank's shares dropped 3.7% to $327 in pre-market trading.

The United Nations Development Program (UNDP) released on Tuesday a stark new assessment of 2022 data estimating 34 million Afghans were living below the poverty line. The figure is a staggering increase of 15 million on 2020, the last full year of rule by the Western-backed government that crumbled in...

Beirut, Lebanon--A US helicopter raid on Monday targeted a senior Islamic State group leader in Syria suspected of plotting attacks in Europe and the Middle East, US Central Command said."US Central Command forces conducted a unilateral helicopter raid in northern Syria in the early morning... targeting a senior ISIS Syria leader...

Dubai, UAE -- The UAE continues to be the second most important export destination for India, according to annual trade figures released by India's Ministry of Commerce and Industry.The US and the UAE retained the first and second places respectively in this category during the financial year 2022-23, the Ministry’s...

The 15th consecutive week of protest came after Prime Minister Benjamin Netanyahu on March 27 announced a "pause" to allow for dialogue on the reforms which were moving through parliament and split the nation. "Let's save democracy" read signs in a sea of Israeli flags waved by demonstrators. AFP journalists...

Still predicting "moderate GDP growth, US treasury secretary has affirmed that the country's banks may be more cautious in granting loans after recent turmoil in the sector, she said In an interview to be aired on Sunday. The dramatic collapse of Silicon Valley Bank and Signature Bank shook the financial...

JPMorgan Chase reported a rise in first-quarter profits alongside banking giants Citigroup and Wells Fargo. The first look at the sector - since the collapse of Silicon Valley Bank and two other banks - showed the industry is benefiting from the Federal Reserve's shift towards higher interest rates and from...

The US should continue tightening monetary policy to bring down inflation while assessing the impact of last month's financial turmoil on bank lending, a top Federal Reserve official said. "How much further will depend on incoming data on inflation, the real economy and the tightening credit conditions," Federal Reserve governor...

Equity markets rose, with Paris hitting a record-high, as investors reacted positively to easing inflation, recession concerns and some strong earnings. The dollar hit a year-low against the euro after official data this week showed high inflation slowing in the United States, fanning hopes the Federal Reserve would soon stop...

Countries must do more to avert the costly consequences of growing global trade fragmentation, and help avert a "second Cold War," the International Monetary Fund's managing director said. "I know what are the consequences of a Cold War: it is loss of talent and contribution to the world," Kristalina Georgieva...

US consumer inflation slowed in March lessening the pressure on the Federal Reserve to maintain its aggressive posture to cool the economy. The rate of inflation year-over-year fell to 5.0 percent last month from 6.0 percent in February, the smallest 12-month increase since May 2021, as per the Bureau of...

Global government debt is on track to reach levels not seen since the height of the COVID-19 pandemic, the International Monetary Fund warned. China and the United States are responsible for the vast majority of the expected debt increase over the next five years, the head of the IMF's Fiscal...

The Republican real estate magnate, who is facing 34 felony counts in New York over alleged hush money paid to an adult film actress, told Fox News anchor Tucker Carlson that nothing would prevent him from running -- even a conviction. The interview, part two of which is expected to...

The proposed rules set aggressively low standards for emissions of greenhouse gases and criteria pollutants, which is expected to lead to further manufacturing and marketing of EVs amid already considerable investments announced by US and foreign carmakers.

In the wake of the fall of Silicon Valley Bank, the US Federal Reserve should be cautious in setting interest-rate policy. Chicago Fed president Austan Goolsbee said at a conference in Chicago that caution should be exercised until "we see how much work the headwinds are doing for us in...

The IMF predicted the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January. The American economy is expected to grow by 1.6 percent in 2023, up 0.2 percentage point on IMP's previous forecast.

Tesla employees "circulated recordings of Tesla customers in private and embarrassing situations, without their consent," courtesy of sophisticated camera systems built into the cars, a court filing contended. The suit accuses Tesla of negligence, fraud and privacy invasion.

Shopping online at Temu, Laurie Silva paid just $1.25 for earrings and $15 for a cardigan -- she is among millions of US consumers the Chinese platform is wooing with low-cost bargains and a dizzying array of products. Temu topped US app download rankings in early April, a spot it...

US officials told that some documents appeared to be manipulated but many were consistent with CIA World Intelligence Review reports that are shared at high levels within the White House, Pentagon and State Department. "We have been in communication with the Department of Defense related to this matter and have...

Evan Gershkovich was formally charged with espionage by Russia, according to Russian news agencies, accusation rejected both by the reporter and his employer, the Wall Street Journal. The charges are the first of their kind in Russia since the collapse of the Soviet Union, sparking off an outcry from media...

US job gains eased in March for a second straight month, government data showed, adding to signs that the economy is cooling as policymakers push on in their fight against inflation. The country added 236,000 jobs in March, slightly less than expected, while the unemployment rate inched down to 3.5...

Experts say developing nations are struggling to find the funds needed to stop burning planet-heating fossil fuels and prepare for tomorrow's climate disasters, as they grapple with rising costs, soaring debts and extreme weather events. Reform plans are gaining momentum because they fill a "policy vacuum" over funding for the...

A continued slowdown in almost all the world's advanced economies is expected to drag global growth below three percent this year, the International Monetary Fund's managing director warned. "With rising geopolitical tensions and high inflation, a robust recovery remains elusive," Kristalina Georgieva said in remarks ahead of the IMF and...

London rose but Frankfurt and Paris slipped in muted trade during a holiday-shortened week, while Asian indices slipped lower. "Markets are drifting as investor thoughts start to turn towards the scale of severity, as the likelihood of a recession later in the year in the US increases," said Richard Hunter,...

TEHRAN, IRAN - Iran on Wednesday welcomed a US call to help end the long-running conflict in Yemen by backing a peace process, one year after a United Nations-brokered truce dramatically reduced fighting.Diplomatic efforts to resolve the conflict have multiplied since the Yemeni government's main foreign backer Saudi Arabia signed a Chinese-brokered...

Asian indices drifted after losses on Wall Street, as data showing a softening in the US jobs market pointed to a slowdown in the world's biggest economy. Oil dipped, having spiked earlier this week following shock output cuts from OPEC+ crude producers.

New York, United States--US pharmaceutical giant Johnson & Johnson on Tuesday proposed an $8.9 billion settlement to resolve years-old lawsuits claiming that its talcum powder products caused cancer.The New Jersey-based company said the proposed settlement, which still needs the approval of a bankruptcy court, "will equitably and efficiently resolve all claims...

Former US president Donald Trump is charged with 34 felony counts of falsifying business records stemming from three pre-election hush-money cases. A New York judge released Donald Trump from custody without any pre-trial restrictions at a historic arraignment.

Virgin Orbit, the satellite launch company founded by Richard Branson, has filed for Chapter 11 bankruptcy and will sell the business, the firm said in a statement. The California-based company said last week it was laying off 85 percent of its employees to reduce expenses due to its inability to...

A joint statement issued after the tenth US-EU Energy Council in Brussels said competitive, liquid and transparent global energy markets remain critical to ensuring a reliable, sustainable, affordable, and secure energy supply for Europe to serve the transition to climate neutrality. The Council asked Russia to withdraw its forces from...

The Kremlin said oil output cuts by Russia, Saudi Arabia and other major producers that have caused prices to soar are "in the interests" of global markets. The surprise move on Sunday came as oil prices have cooled in recent months after soaring last year following the start of the...

BEIJING, CHINA - Chinese authorities have begun an investigation into leading US memory chipmaker Micron Technology, a decision Beijing's foreign ministry said Monday was intended to "safeguard national security".The probe escalates an already fierce battle between Beijing and Washington for supremacy in the field of semiconductors as broader bilateral relations continue...

Cuts by the Saudis, Iraq, UAE, Kuwait, Algeria and Oman from May to the end of the year will total more than one million barrels per day -- the biggest reduction since the OPEC+ cut 2 million bpd in Oct. A Saudi official called it a measure "aimed at supporting...

Geneva, Switzerland -- The merger between banks Credit Suisse and UBS could see up to 36,000 jobs being cut across the world, the SonntagsZeitung weekly reported on Sunday.The takeover by UBS of Credit Suisse was hastily arranged by the Swiss government on March 19 to prevent a global financial meltdown,...

The country sees 3.6 million eviction cases filed in a typical year, said Peter Hepburn, associate director of Eviction Lab at Princeton University. But that number slowed to a trickle during the pandemic. Now, with Covid-era legal protections and assistance lifted, it is surging again, Eviction Lab's figures show.

Washington, United States--President Joe Biden on Friday called for Russia to release Wall Street Journal reporter Evan Gershkovich, who is being held on espionage charges, while rebuffing a call from the paper's editorial board to expel Russian journalists from the United States.Asked by White House reporters what his message was to...

Abu Dhabi, UAE -- The Central Bank of the UAE Friday revoked the license of Russia's MTS Bank's, which was granted last year.The bank said that under its supervision, the operations of MTS bank, which is licensed in Abu Dhabi, would be wound down within six months. Revocation of MTS's...