newsmart – Business

koreatimes.co.kr | 3 min. ago NEW

Fed's hawkish hold strengthens case for BOK's hike in November

The U.S. Federal Reserve's hawkish decision to hold interest rates steady has strengthened the case for the Bank of Korea (BOK) to raise its benchmark rate as early as next month, as stronger-than-expected growth and persistent inflation reinforce the need for further monetary tightening, analysts said Thursday.

The Fed kept its benchmark interest rate unchanged at 3.75 to 4 percent on Wednesday (local time), but signaled that inflation remains elevated and reaffirmed its commitment to bringing inflation back to its 2 percent target. The decision has kept markets focused on the possibility of another Fed rate hike in December, raising the prospect that the BOK could pursue further tightening before its U.S. counterpart makes its next move.

The BOK held its benchmark rate at 3 percent at its rate-setting meeting last Thursday, saying it needed more time to assess domestic and external economic conditions and the effects of two previous rate hikes. Recent economic data have strengthened the case for further tightening.

Korea's real gross domestic product grew 1 percent in the third quarter

koreatimes.co.kr | 3 min. ago NEW

Mirae Asset to reenter Japan with acquisition of Sanko Securities

A decade after it exited the country, Mirae Asset Securities is set to reenter Japan through its acquisition of local brokerage Sanko Securities, as it looks to expand its presence in a market where retail investment is gaining momentum, the company said Thursday. The company said its board approved a plan to purchase 100 percent of the stakes in Sanko Securities through its U.S. affiliate, Mirae Asset Securities Holdings.

The deal is valued at an estimated 42.6 billion won ($35.62 million), with the final price to be determined at closing after regulatory approvals and other conditions are met. Mirae Asset will inject a total of 100.6 billion won into its U.S. affiliate to fund the acquisition and subsequent business expansion in Japan.

Sanko, which operates under Japan’s Okasan Securities Group, specializes in proprietary trading — buying and selling stocks, bonds and other securities with its own capital to generate returns. It posted a net profit of roughly 400 million won and net assets of 39.1 billion won for the fiscal year ended March 2026, the company said.

The acquisition w

ft.com | 16 min. ago NEW

The Fed plays for time (but doesn’t have much)

Plus, tech results and UK bank taxes

newsbeep.com | 32 min. ago NEW

Japan girds for new wave of food price hikes as tanker rates soar

Inflation Consumer prices could rise next year, erasing Takaichi’s consumption tax cut Prices rose for 4,965 food and beverage…

kyivpost.com | 33 min. ago NEW

Russia Uses North Korean Forced Labor to Sustain War Against Ukraine, Investigation Finds

A new investigation by The Hague-based Global Rights Compliance (GRC) has exposed a Russian recruitment network that places North Korean workers in factories supporting Moscow’s war against Ukraine, circumventing UN sanctions through student visas. Investigators documented coercive working conditions, the involvement of North Korean officials and the diversion of workers’ earnings to Pyongyang.

The findings reveal how Russia’s war economy and North Korea’s weapons financing have become increasingly intertwined.

euronews.com | 50 min. ago NEW

EU's push to reduce reliance on China could come at a price

Brussels is preparing a new tool to shield the EU economy from countries weaponising its strategic dependencies. But European businesses fear the costs of diversification - and question which sectors will be targeted.

koreatimes.co.kr | 53 min. ago NEW

KITA supports Korean consumer goods firms' foray into UAE, Morocco

The Korea International Trade Association (KITA) said Thursday it dispatched a delegation of Korean consumer goods companies to the United Arab Emirates and Morocco from Monday to Thursday to support their expansion into the Middle East and North Africa market through meetings with local government agencies and business networking events.

The delegation was led by KITA Executive Vice President Lee In-ho and comprised eight companies specializing in medical devices, cosmetics, hair care products and food products. The UAE is widely considered the business hub in the Middle East, where demand for Korean consumer goods is growing rapidly, driven by strong purchasing power and the rising popularity of Korean culture.

Korea's K-beauty exports to the UAE surged more than ninefold from $31 million in 2020 to $287 million last year. The Korea-UAE Comprehensive Economic Partnership Agreement, which took effect in May, has also laid the groundwork for expanding trade and economic cooperation between the two countries.

Morocco is a strategic market connecting Europe, Africa and the Middle East. It

mirror.co.uk | 1 hrs. 5 min. ago

Barack Obama mercilessly trolls Donald Trump by doubling down on 'Cheesecake Factory' jibes

"They mobilised a whole of government response to that joke. Not to inflation, but to that joke," Obama said, poking fun at the President and branding his team "not serious"

koreatimes.co.kr | 1 hrs. 9 min. ago

Hyundai Motor's Q3 operating profit rises 5.5% despite external challenges

Hyundai Motor posted modest growth in operating profit in the third quarter, as stronger sales of higher-value vehicles, particularly hybrids, and favorable exchange rates helped offset production disruptions and weaker global demand, the carmaker said Thursday. In a regulatory filing, the automaker reported operating profit growth of 5.5 percent between July and September to 2.68 trillion won ($2.05 billion), while its sales fell 3.4 percent to 45 trillion won during the same period.

The carmaker managed to weather market concerns to some extent with the earnings growth, as the market expected the carmaker to continue its losing streak due to multiple risk factors, such as its domestic production disruptions caused by labor strikes and the deepening auto competition across the globe.

Hyundai Motor attributed the profit increase to favorable exchange rates, cost optimization measures and an improved sales mix driven by growing demand for hybrid cars. The average won-dollar exchange rate rose 2.8 percent from a year earlier to 1,423 won during the third quarter. Hybrids accounted for 18.2

ft.com | 1 hrs. 39 min. ago

It is too soon to hold a funeral for US tariffs

Import duties are a far bigger deal in next week’s midterms due to their association with an unpopular president

koreatimes.co.kr | 1 hrs. 42 min. ago

Inflation whale drags Trump polls down

Inflation whale drags Trump polls down

koreatimes.co.kr | 2 hrs. 13 min. ago

US stocks hold steady ahead of Fed rate decision

NEW YORK — U.S. stocks are drifting Wednesday as the countdown ticks toward this afternoon’s announcement from the Federal Reserve on what it will do with interest rates. The S&P 500 rose 0.2 percent and pulled within 1 percent of its all-time high, which was set earlier this month.

The Dow Jones Industrial Average was up 149 points, or 0.3 percent, as of 12:46 p.m. Eastern time, and the Nasdaq composite was mostly unchanged. The day’s highlight will likely be what the Federal Reserve says, if anything, about where interest rates are heading. The Fed raised its main interest rate last month for the first time in three years in hopes of slowing the high inflation that’s squeezing the economy and discouraging Americans.

The widespread expectation on Wall Street is that the Fed will leave the federal funds rate alone at this meeting, and the question is whether it will give hints about what may happen at later meetings. Fed Chairman Kevin Warsh, though, has been adamant since taking over the Fed about wanting it to give fewer indications about its future moves.

Wall Street cares so

koreatimes.co.kr | 2 hrs. 14 min. ago

Samsung Electronics' Q3 dividend jumps 12-fold to $22.5 bil.

Samsung Electronics will pay out 30 trillion won ($22.5 billion) in dividends for the third quarter, increasing its dividend per share more than 12-fold in a move to address the mismatch between its sluggish share price and record-breaking earnings performance. During a board meeting on Thursday, Samsung Electronics approved a quarterly dividend of 4,601 won per share for both common and preferred shares, more than 12 times its quarterly payout of around 370 won per share in the first and second quarters.

The dividend will be paid on Nov. 27. "We are aware of market interest in the price gap between its common and preferred shares, and will actively consider adjusting the proportion of preferred shares in its buyback and cancellation programs based on market conditions," Samsung said.

The company said that of its planned 90 trillion won to 110 trillion won in shareholder returns for 2026, between 55 trillion won and 75 trillion won has yet to be distributed or committed. It plans to return the remaining amount through cash dividends and substantial share buybacks and cancellations.

The p

koreatimes.co.kr | 2 hrs. 14 min. ago

Banks' household mortgage lending rates up for 5th month in Sept.

Banks' household mortgage loan rates rose for the fifth consecutive month in September on rising market interest, central bank data showed Thursday. The average interest rate on new bank loans stood at 4.57 percent last month, up 0.17 percentage point from a month earlier, according to the data from the Bank of Korea (BOK).

The average rate on corporate loans increased 0.19 percentage point to 4.49 percent last month, and the rate on new household loans rose 0.14 percentage point to 4.96 percent. The average rate on household mortgage loans increased 0.22 percentage point to 4.88 percent in September.

Last week, the BOK kept its benchmark interest rate unchanged at 3 percent after two consecutive rate hikes aimed at curbing rising inflation caused by prolonged tensions in the Middle East and robust economic growth. The rate freeze came after the BOK raised the benchmark rate in its July and August meetings, marking the first back-to-back rate hikes since January 2023, when the central bank raised the rate at seven consecutive meetings starting in April 2022.

independent.co.uk | 2 hrs. 27 min. ago

Carney hosts EU leaders as Trump pushes Canada toward Europe, but membership label faces resistance

Canadian Prime Minister Mark Carney has called Canada “the most European of non-European countries” early in President Donald Trump’s trade war

euronews.com | 2 hrs. 27 min. ago

Europe’s oil bill: EU pays €10bn more per month than in 2025

Euronews Business takes a closer look at how Europe’s petroleum oil import bill has risen amid tensions in the Middle East - and experts do not expect costs to fall in the near future.

koreatimes.co.kr | 2 hrs. 30 min. ago

After the Han, a miracle on the Mekong?

Forty years after Vietnam launched Doi Moi, a farmer in Can Tho offers a starting point for considering its next leap. Le Dong Phuong initially doubted that sowing fewer seeds could maintain her rice harvest. According to a 2024 World Bank account, repeated visits to demonstration farms eventually convinced her.

Before changing how she worked, she needed evidence that the change would benefit her household. Vietnam’s ambitions are on a different scale. Its 14th Party Congress in January set a target of average annual GDP growth of at least 10 percent for 2026-2030, alongside the goal of becoming a high-income country by 2045. These ambitions invite a familiar Korean question: could a miracle on the Mekong follow the miracle on the Han? I believe Korea’s most useful contribution begins with an honest reading of its own experience.

Education, infrastructure and technological learning helped Korean companies raise their competitiveness. Yet success at the top did not automatically produce prosperity throughout the supply chain. These achievements and difficulties are cues Vietnam can t

independent.co.uk | 2 hrs. 43 min. ago

As war strains Kremlin finances, Putin reaches into more pockets in search of new revenue streams

With Russia’s invasion of Ukraine intensifying the strain on state finances, President Vladimir Putin is reaching for cash to fund his government and the war, squeezing tax revenue from an economy that’s increasingly skewed toward the military — while civilian needs take a back seat

theguardian.com | 3 hrs. 28 min. ago

‘Feels like we’ve gone backwards’: Indonesia’s choking haze provides spark for wider protests

After two years, President Prabowo Subianto is struggling with economic malaise, policy blunders and a devastating fire season in the world’s third-largest democracyAs almost 2m hectares has gone up in smoke in Indonesia’s worst fire season in a decade, enveloping the region in a thick dystopian haze, 33-year-old university researcher Nurul Amalia has grown increasingly exasperated.“The government claims to be continuously increasing the number of personnel to extinguish it.

But we have yet to see any significant progress,” she says. Continue reading...

livemint.com | 3 hrs. 29 min. ago

Need money urgently in financial crisis? PPF loan v personal loan - Check costs, interest rates and applicable rules

Need money urgently? Compare PPF loan vs personal loan interest rates, borrowing limits, eligibility and repayment rules in October 2026. Here are the PPF loan costs, personal loan EMIs and key conditions to choose a suitable borrowing option during a financial emergency.

koreatimes.co.kr | 3 hrs. 48 min. ago

FM Cho leaves for US for G20 meeting, talks with Rubio

Foreign Minister Cho Hyun departed for the United States on Thursday to attend a Group of 20 (G20) foreign ministers' meeting and hold talks with U.S. Secretary of State Marco Rubio on key bilateral issues, officials said. Cho is scheduled to visit Atlanta through Monday to attend the two-day G20 gathering, where participating countries will discuss ways to jointly address geopolitical crises, energy and food security, supply chains, and other global challenges, according to Seoul's foreign ministry.

South Korea is set to assume the G20 presidency in 2028 and plans to work with member countries to ensure continuity in discussions on global issues, ministry officials added. During his visit, Cho is also expected to meet with Rubio to discuss developments on the Korean Peninsula, including North Korean leader Kim Jong-un's recent visit to China and the prospects for renewed dialogue between Pyongyang and Washington, as well as pending bilateral issues.

Kim visited the Chinese border city of Dandong on Saturday amid efforts by Pyongyang and Beijing to deepen ties. Cho has said the two count

koreatimes.co.kr | 4 hrs. 20 min. ago

Korea to closely monitor impact of upcoming US midterm elections

Korean financial authorities said Thursday they will closely monitor the impact of the U.S. midterm elections on financial markets and take immediate countermeasures if necessary in the event of sharp market fluctuations. Finance Minister Lee Hyoung-il held discussions on the issue with Bank of Korea (BOK) Gov.

Shin Hyun-song, Financial Services Commission Chairman Lee Eog-weon and Financial Supervisory Service Gov. Lee Chan-jin after the U.S. Federal Reserve held its benchmark interest rate steady overnight. The Fed decided to maintain the rate in the 3.75-4.00 percent range in a 10-2 vote. The decision left the gap between the key interest rates of Korea and the United States at up to 1 percentage point.

"The decision appears to reflect the Fed's continued focus on stabilizing consumer prices while assessing the impact of September's rate hike and other economic indicators to determine its future policy direction," Lee said. Lee noted that earnings and investment outlooks for major technology firms, along with movements in global oil prices, are fueling volatility in financial markets

koreatimes.co.kr | 4 hrs. 35 min. ago

Mirae Asset to acquire Japanese brokerage Sanko

Mirae Asset Securities, a major Korean securities firm, said Thursday it will acquire the Japanese brokerage Sanko Securities, in a drive to expand its presence in the Japanese financial sector. In a regulatory filing, Mirae Asset said its board has approved a plan to buy a 100-percent stake in Sanko Securities.

The stake will be purchased by the company's U.S. affiliate, Mirae Asset Securities Holdings, according to the filing. Mirae Asset said the acquisition was worth some 47.6 billion won ($35.6 million) and its final value will be decided when the transaction is completed, the filing said.

For the deal, Mirae Asset will invest about 100 billion won into the U.S. affiliate and the fund will be used to expand businesses in Japan, according to the filing.

theguardian.com | 4 hrs. 46 min. ago

Ukraine war briefing: Oleshky truce holding and demining under way to enable humanitarian corridor, Kyiv says

No reported incidents in 30 hours in the occupied Ukrainian city. What we know on day 1,709A local ceasefire in southern Ukraine was holding for a second day, both sides said on Wednesday, as hopes grew that vital aid would be able to reach stranded residents.

An estimated 2,000 people remain in the Russian-occupied city of Oleshky in the Kherson region amid food and medical shortages and reports many people are now starving and eating weeds. The human rights ombudsmen of both Russia and Ukraine said on Wednesday the US-brokered truce – which came into effect early on Tuesday morning – was still holding.

“30 hours of the ceasefire in Oleshky have passed without a single incident,” Ukraine’s Dmytro Lubinets said. “No incidents have been recorded in the 30 hours of the ceasefire in Oleshky,” Russia’s Yana Lantratova said in a similarly worded statement. The ceasefire would be guaranteed by “the physical presence of both ombudsmen: Ukrainian and Russian” on the ground, Lubinets’s office said.

Route demining was “currently under way”, Lubinets said on social media, describing it as “crucial step toward ensuring the safe delivery of humanitarian aid and enabling civilians who wish to leave the city”.Volodymyr Zelenskyy said that since the ceasefire came into force, there had been “no massive attacks” on the regional capital of Kherson, where about 280,000 people lived before Russia’s invasion.

“We’re happy even when we have two, three days for these people. You know, some ceasefire is great, you can see them in the streets,” the Ukrainian president told reporters in The Hague. The truce would be a “huge success” if the evacuation of Oleshky’s citizens went ahead as planned, he said.The timing of the next round of three-way ⁠talks on a settlement of the Ukraine conflict is linked to the conflict in the Middle East, a Kremlin foreign policy aide has said, casting doubt on whether the talks will take place next month as initially proposed.

Yuri Ushakov, quoted by Russian news ⁠agencies, said Moscow had not yet proposed a specific date for the talks. “It will ​also depend on the situation ‌on the battlefield and the ‌situation in general. You can see the situation now in the Middle East. It ‌just doesn’t allow us to hold it in the near future.

That’s my assumption,” he told journalists on Wednesday. Zelenskyy said on Wednesday he hoped a meeting would take place in Abu Dhabi between 6 and 10 November.Vladimir Putin praised Elon Musk’s “genius” and said he was in touch with Starlink’s controlling shareholder as Russia develops its own satellite communications for its military to use against Ukraine, reports Dan Sabbagh.

The Russian president, speaking at a summit with African leaders in Moscow, was comparing the Earth-orbiting network built by Musk’s SpaceX with Russia’s gradual efforts to build its own Rassvet constellation. “Elon Musk is a genius, a true genius,” the Tass news agency quoted the Russian leader as saying.The Netherlands will supply Ukraine with €500m ($557m/£$418m) ⁠in military support ⁠this ​winter, the Dutch prime minister said.

The support ⁠would be used to supply drones and other material to ⁠strengthen Ukraine’s defence, Rob Jetten said ​after meeting Zelenskyy in The Hague. Earlier on ‌Wednesday, the Dutch government announced it would give Kyiv €1.2bn in non-military support in the next three years. Part of the money would be used for funds that supported ⁠Dutch companies willing to invest in the ​rebuilding ​of Ukraine.Russian authorities have issued permits for ⁠vessels carrying grain for export to leave the Sea of Azov for the first time since 10 July, ⁠when they closed maritime ⁠traffic ​in the area due to Ukrainian drone attacks, Reuters quoted seven industry sources as saying.

They said permits to pass ⁠through the Kerch Strait, which links the Sea of Azov and the Black Sea, would be issued for the period ⁠to 15 November. Continue reading...

koreatimes.co.kr | 5 hrs. 23 min. ago

Korea to conditionally ease diesel export restrictions amid stable crude supplies

Korea will ease export restrictions currently imposed on diesel starting in November on condition that domestic supply remains stable, the industry ministry said Thursday. The Ministry of Trade, Industry and Resources said the government will allow diesel exports of up to 110 percent of the volume recorded in the same month a year earlier, up from the current cap of 100 percent.

The higher cap will apply only when oil refiners fulfill their domestic supply obligations and maintain adequate inventories, the ministry added. Korea adopted export restrictions on fuel products when it implemented the oil price cap system in March to maintain stable domestic supply. Local oil refiners have recently called for such restrictions to be eased.

The industry ministry said crude supplies remain stable, citing crude import volumes for October and November equivalent to at least 100 percent of last year's monthly average. "With tensions in the Middle East lingering, the government will closely monitor the supply of petroleum products and immediately reinstate the previous cap should further supply conce

koreatimes.co.kr | 5 hrs. 23 min. ago

Transactions of repo loans rise 3.16% in Q3

Transactions of repurchase agreement (RP) loans among financial institutions grew more than 3 percent in the third quarter from a year earlier, data showed Thursday. The combined turnover of RP loans extended by local institutions and brokerages reached 12,862 trillion won ($9.62 trillion) as of end-September, up 3.16 percent from a year ago, according to data from the Korea Securities Depository.

An RP allows a borrower to use a security as collateral for a cash loan at a fixed interest rate and buy it back from the lender at a set price at a later date. The outstanding value of RP transactions stood at 271.2 trillion won as of end-September, up 8.13 percent from a year earlier, according to the data.

theguardian.com | 5 hrs. 50 min. ago

Investors turn on Google owner Alphabet after profit miss, ad slowdown and high spending

Net profit slid 25% from a year earlier to $26.2bn, well short of expectations, though revenue rose to $127.6bnShares in Google parent Alphabet fell more than 10% in after-hours trading Wednesday, erasing tens of billions of dollars in stock market value from the $4tn tech giant.

The company had reported lower-than-expected profit and a slowdown in its advertising business while it maintained big spending on AI.Net profit slid 25% from a year earlier to $26.2bn in the July-to-September period, or $2.12 a share, well short of expectations by analysts surveyed by FactSet. Continue reading...

smh.com.au | 5 hrs. 51 min. ago

Binoculars over the border: The Chinese town visited by Kim Jong-un

Dandong, in north-eastern China, has built a tourism industry around peering into the world’s most secretive country while propping up its economy.

livemint.com | 6 hrs. 23 min. ago

Silver imports surge at India’s bullion exchange after new licensing rules

The surge follows a May decision by the Directorate General of Foreign Trade to move certain categories of silver to the restricted list, requiring importers to obtain authority's licences.

nytimes.com | 6 hrs. 25 min. ago

Fed Holds Rates Steady Despite Lack of Progress on Inflation

Kevin M. Warsh, the chairman of the Federal Reserve, said an “information-rich” period before the central bank’s gathering in December will help officials determine next steps for policy.

businessinsider.com | 6 hrs. 26 min. ago

Dissents, rising prices, and a change to the meeting schedule: 3 takeaways from the October Fed meeting

The Fed held interest rates steady in its latest decision, following the September rate hike. The FOMC decision wasn't unanimous this time.

newsbeep.com | 6 hrs. 39 min. ago

What we now know about the UK economy in four charts

Inflation also raises the cost of borrowing for the government, with spending on debt interest set to rise.…

smh.com.au | 6 hrs. 54 min. ago

Albanese bets on trade brawl to bash Coalition amid inflation woes

The prime minister has seized on Coalition dissent after this masthead revealed one Liberal warned the Nationals’ position on the EU free trade deal was “nutty”.

kyivpost.com | 6 hrs. 55 min. ago

UK Pledges £10 Billion ($13.3 Billion) to Ukraine, Including Urgent Air Defense Aid

Britain announced more than £10 billion ($13.3 billion) in additional support for Ukraine, alongside £500 million ($665 million) in urgent air-defense assistance. The package includes £7 billion ($9.3 billion) in economic support over three years and £3 billion ($4 billion) in export-finance capacity.

koreatimes.co.kr | 7 hrs. 49 min. ago

Biz sentiment rises to over 4-year high in Oct. on improved outlook: BOK

South Korea's business sentiment rose to a more than four-year high in October, driven by solid confidence in manufacturing and an improved outlook in nonmanufacturing, a central bank survey showed Thursday. The Composite Business Sentiment Index (CBSI) for all industries stood at 104.2 in October, up 5.1 points from the previous month, according to data from the Bank of Korea (BOK).

The reading marked the highest level since August 2022, when the index recorded 105.5 after the COVID-19 pandemic. The index measures corporate outlooks on overall business conditions, with a reading below 100 indicating that pessimists outnumber optimists. "Increased investment and production in major sectors, including semiconductors, automobiles and shipbuilding, boosted related upstream industries," a BOK official said.

"A strengthening Korean won also helped local firms ease the financial burden of purchasing imported raw materials." The CBSI among manufacturers climbed 6.1 points on-month to 105.6 in October, marking the highest point in more than four years since June 2022, when the reading stood at 10

theguardian.com | 8 hrs. ago

Microsoft posts $92.3bn in quarterly revenue after offering buyouts to 60,000 employees

Software giant reports $36.6bn in profit, beating Wall Street expectations, as Azure cloud computing division grows 48%Microsoft gained billions of dollars in stock market value Wednesday afternoon after it reported better than expected revenue and profit, just days after it offered voluntary buyouts to some 60,000 employees.The office software giant’s growth was fueled by its Azure cloud computing division, which grew by 48% in the September quarter.

Continue reading...

abc.net.au | 8 hrs. 19 min. ago

Live: Albanese warns inflation challenges 'won't be solved overnight'

Anthony Albanese says Australia faces domestic and global pressures and is not immune to their impact. Follow live.

newsbeep.com | 8 hrs. 34 min. ago

The Jackdaw gasfield, net zero and climate adaptation

Green economy | Andy Burnham writes that his determination to tackle the climate crisis is “unwavering” and that the transition must…

nypost.com | 8 hrs. 20 min. ago

Local cop who neutralized would-be Trump assassin Thomas Crooks cut out of narrative by embarrassed feds: family

"There was no consideration that our local people, who weren’t there to protect the president, ended up being the ones that neutralized the threat," the hero's mother-in-law told The Post.

nypost.com | 8 hrs. 36 min. ago

Saudi oil exports boom despite relentless Houthi attacks

Saudi Arabia's oil exports are going strong and holding near war-time highs despite the ongoing wave attacks from the Iran-backed Houthi rebels, according to maritime tracking firms.