S-OIL Secures Top Spot Again: Named 'Most Admired Company' for 8th Consecutive Year [iNews24 reporter Goodyeon Choi]S-OIL has retained the top spot in the Korea Management Association Consulting (KMAC)'s '2024 Most Admired Companies in Korea' for the eighth consecutive year.S-OIL CEO Anwar Al Hijazi...
Apple's Exit from EV Market Boosts Tesla, Eases Pressure on CompetitorsWith Apple’s voluntary withdrawal from the electric vehicle market, there’s a sense of relief among existing electric vehicle manufacturers like Tesla. In the recent cooling down of the electric vehicle market, the departure of a big tech company that holds $61 billion in cash means a lot to these existing companies. On the 27th (local […]
Ukraine Urges Poland to Penalize Perpetrators of Grain Destruction Amidst Farmer ProtestsUkraine has demanded punishment for the destruction of grain caused by the protests of Polish farmers. Ukrainian Minister of Infrastructure Oleksandr Kubrakov urged Poland on the 26th (local time) to punish those responsible for the leakage of Ukrainian grain cargo at the border last weekend. “We must find and neutralize those who damaged Ukrainian grain […]
Samsung C&T Plans to Build Massive Solar Power Plant in Indiana, USASamsung C&T Corporation is building a massive solar power plant in Indiana, USA. They are tightening the reins on expanding solar development projects, which they have pinpointed as a future growth engine. They are in full swing to leap forward as a global eco-friendly energy company. According to a report submitted to the Bartholomew County […]
Mark Zuckerberg's Visit to South Korea Sparks Discussions on AI and XR Collaboration with LG ElectronicsPotential Discussions on AI and XR CollaborationPossibility of Meeting with Samsung Electronics Chairman Lee Jae Yong Mark Zuckerberg, CEO of Meta, who plans to visit Korea at the end of this month, will likely meet with William Cho, LG’s chief strategy officer. According to Yonhap News, on the 25th, the two parties discussed that Zuckerberg […]
US Congress Targets Chinese E-Commerce Giant Temu Over Forced Labor Allegations Chinese e-commerce platform Temu has become a controversial topic in the U.S. political arena over the issue of forced labor. Temu's sales events are garnering increasing attention, and some lawmakers are calling for the company to be regulated...
China Condemns US Sanctions on Chinese Companies Supporting RussiaSix Chinese Companies Included in the U.S.’s SanctionsChina’s Ministry of Commerce, “We firmly oppose the disruption of trade order” China has objected to including several Chinese companies in sanctions imposed by the U.S. against companies supporting Russia. According to Reuters on the 26th, the Chinese Ministry of Commerce stated in a spokesperson’s statement, “China is […]
Buffett Boost: Japan's Big Five Trading Companies Soar on Berkshire's PraisePraises Japan’s big five trading companies in his annual letter Warren Buffett has once again energized the Japanese stock market. According to Bloomberg on the 26th (local time), Buffett, the chairman of Berkshire Hathaway, praised the five major Japanese trading companies (Itochu, Marubeni, Mitsubishi, Mitsui, Sumitomo) at length in his annual letter to shareholders on […]
China Mourns Loss of Self-made Billionaire Founder Zong Qinghou, Dies at 79Self-made Chairman Zong Qinghou of Wahaha died at 79Once the wealthiest businessman in China“A first-generation entrepreneur after China’s reform and opening up” Zong Qinghou, the founder of China’s largest food and beverage company, Wahaha Group, died at the age of 79 on the 25th, according to China Daily. The memorial service will be held in […]
Blackstone's CEO Takes a Hit: Stephen A. Schwarzman's Pay Slashes 29% [AlphaEconomy=(Chicago) Paul Lee Correspondent] Blackstone has cut its chief executive's pay and dividend. Reuters reported on Thursday that Blackstone Chief Executive Officer Steven A...
Nvidia's Stock Surge: Riding High or Ready to Burst?Analysts have suggested it’s hard to see the sharp rise in Nvidia’s stock price after recording a fourth-quarter earnings surprise as a bubble. The factor that bursts a stock price bubble is a slowdown in sales, but the judgment is that Nvidia’s sales and operating profits can maintain a rapid increase. On the 26th, Eugene […]
United Airlines Hikes Checked Bag Costs After Four YearsUnited Airlines is raising checked baggage fees, following American Airlines. Reuters reported on the 24th (local time) that United Airlines announced an increase in checked baggage fees for North American travelers just a few days after American Airlines announced a similar increase. This price increase is the first in four years since United Airlines has […]
Gas Giants Clash: Qatar Boosts LNG Amid U.S. Export Permit FreezeQatar, one of the leading oil shipping countries competing with the United States and Australia, plans to increase its production of liquefied natural gas (LNG) amidst increasing demand and a halt in growth projects from its key competitor, the United States. Qatar’s Energy Minister Saad Sherida Al-Kaabi announced on the 25th (local time) that they […]
Saudi Sovereign Wealth Fund Pledges $70 Billion Annually for Vision 2030 [TheGuru=HongSungHwan Lee] Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), plans to invest KRW 90 trillion annually starting in 2026 to fulfill its Vision 2030. "We plan to increase our annual capital deployment to $70 billion (about 93 trillion won) after 2025," PIF Governor Yasir Osman Alumayan said at the Future Investment Initiative (FII) conference in Miami, U.S., on Nov. 22, according to industry sources. Currently, PIFs invest between $40 billion and $50 billion (about $53 trillion and $67 trillion) annually. The fund invests 70 percent of its funds in Saudi Arabia and 20 to 25 percent abroad. "The share of foreign investments has decreased, but the volume has continued to grow," Alumayan said. "PIFs invested $100 billion (about $133 trillion) in each country between 2017 and 2023, creating more than 103,000 jobs," Alumayan said, emphasizing that "we have made a significant contribution to the U.S. economy." The PIF is the world's sixth-largest sovereign wealth fund with $600 billion in assets under management and is a key source of funding for Vision 2030 reforms. It is chaired by Saudi Arabia's Crown Prince Muhammad bin Salman, the country's de facto ruler. Saudi Arabia is implementing Vision 2030, a mid- to long-term development plan to move away from an oil-centric economy. It is a strategic national evolution plan to reduce the Saudi economy's dependence on oil, diversify its economic structure, and promote healthcare, education, infrastructure, recreation, and tourism. The goal is to expand non-oil exports from 16% in 2016 to 50% in 2030...
Google's Gemini AI Model Produces Racist Results, Image Feature SuspendedAlphabet’s Google has acknowledged the error in its AI model, Gemini, and is temporarily halting the ability of its Gemini function. On the 22nd (local time), Google announced that it is temporarily pausing image generation soon as critics started to raise questions about a powerful generative AI Gemini’s incorrect historical depictions. This measure was taken […]
Nvidia (NVDA) Stocks Surge after Strong Q4 Earnings with Demand Outstripping SupplyNVIDIA (NVDA) announced “surprise earnings” for the last quarter, causing its stock price to surge 16% on the 22nd (local time) and setting a new record. NVIDIA’s revenue for the fourth quarter (November to January) of the fiscal year 2024 was $22.1 billion, up 265% from the previous year, and Non-GAAP earnings per share (EPS) […]
United Airlines Returns: Direct Flights to Israel Back on ScheduleUnited Airlines is resuming its flights to Israel. Reuters reported on the 22nd (local time) that United Airlines is scheduled to be the first U.S. airline to resume direct flights to Israel early next month following attacks on southern Israel by Hamas armed forces. United Airlines said, “We conducted a detailed safety analysis of this […]
Meta's Mark Zuckerberg to Discuss AI Partnership with Samsung's Lee Jae YongMark Zuckerberg, CEO of Meta, is set to visit South Korea. His visit, which marks the first in 10 years, is drawing attention as it is known that he will meet with Lee Jae Yong, the chairman of Samsung Electronics, and discussions are expected, focusing on the construction of an “Artificial Intelligence (AI) Semiconductor Alliance.” […]
Korean Semiconductors Caught in the Middle: Facing Pressure from U.S., China, and Japan With US President Joe Biden's visit to South Korea, the semiconductor industry is facing the challenge of securing competitiveness. The U.S. and Japan are expanding with software competitiveness and subsidies, and China is also looking for a way out of the U.S.'s grasp.
Walmart's Big Bet: $2.3 Billion Deal to Acquire Vizio Signals Shift in Retail StrategyWalmart has finally acquired TV manufacturer Vizio. Walmart announced on the 20th (local time) that they agreed to acquire TV manufacturer Vizio for $2.3 billion. This indicates Walmart’s high expectations for future advertising revenue. Walmart stated that through this transaction, they can not only sell advertisements through Vizio’s TVs but also gain more opportunities to […]
S-OIL Secures Top Spot Again: Named 'Most Admired Company' for 8th Consecutive Year [iNews24 reporter Goodyeon Choi]S-OIL has retained the top spot in the Korea Management Association Consulting (KMAC)'s '2024 Most Admired Companies in Korea' for the eighth consecutive year.S-OIL CEO Anwar Al Hijazi...
Apple's Exit from EV Market Boosts Tesla, Eases Pressure on Competitors With Apple’s voluntary withdrawal from the electric vehicle market, there’s a sense of relief among existing electric vehicle manufacturers like Tesla. In the recent cooling down of the electric vehicle market, the departure of a big tech company that holds $61 billion in cash means a lot to these existing companies. On the 27th (local […]
Ukraine Urges Poland to Penalize Perpetrators of Grain Destruction Amidst Farmer Protests Ukraine has demanded punishment for the destruction of grain caused by the protests of Polish farmers. Ukrainian Minister of Infrastructure Oleksandr Kubrakov urged Poland on the 26th (local time) to punish those responsible for the leakage of Ukrainian grain cargo at the border last weekend. “We must find and neutralize those who damaged Ukrainian grain […]
Samsung C&T Plans to Build Massive Solar Power Plant in Indiana, USA Samsung C&T Corporation is building a massive solar power plant in Indiana, USA. They are tightening the reins on expanding solar development projects, which they have pinpointed as a future growth engine. They are in full swing to leap forward as a global eco-friendly energy company. According to a report submitted to the Bartholomew County […]
Mark Zuckerberg's Visit to South Korea Sparks Discussions on AI and XR Collaboration with LG Electronics Potential Discussions on AI and XR CollaborationPossibility of Meeting with Samsung Electronics Chairman Lee Jae Yong Mark Zuckerberg, CEO of Meta, who plans to visit Korea at the end of this month, will likely meet with William Cho, LG’s chief strategy officer. According to Yonhap News, on the 25th, the two parties discussed that Zuckerberg […]
US Congress Targets Chinese E-Commerce Giant Temu Over Forced Labor Allegations Chinese e-commerce platform Temu has become a controversial topic in the U.S. political arena over the issue of forced labor. Temu's sales events are garnering increasing attention, and some lawmakers are calling for the company to be regulated...
China Condemns US Sanctions on Chinese Companies Supporting Russia Six Chinese Companies Included in the U.S.’s SanctionsChina’s Ministry of Commerce, “We firmly oppose the disruption of trade order” China has objected to including several Chinese companies in sanctions imposed by the U.S. against companies supporting Russia. According to Reuters on the 26th, the Chinese Ministry of Commerce stated in a spokesperson’s statement, “China is […]
Buffett Boost: Japan's Big Five Trading Companies Soar on Berkshire's Praise Praises Japan’s big five trading companies in his annual letter Warren Buffett has once again energized the Japanese stock market. According to Bloomberg on the 26th (local time), Buffett, the chairman of Berkshire Hathaway, praised the five major Japanese trading companies (Itochu, Marubeni, Mitsubishi, Mitsui, Sumitomo) at length in his annual letter to shareholders on […]
China Mourns Loss of Self-made Billionaire Founder Zong Qinghou, Dies at 79 Self-made Chairman Zong Qinghou of Wahaha died at 79Once the wealthiest businessman in China“A first-generation entrepreneur after China’s reform and opening up” Zong Qinghou, the founder of China’s largest food and beverage company, Wahaha Group, died at the age of 79 on the 25th, according to China Daily. The memorial service will be held in […]
Blackstone's CEO Takes a Hit: Stephen A. Schwarzman's Pay Slashes 29% [AlphaEconomy=(Chicago) Paul Lee Correspondent] Blackstone has cut its chief executive's pay and dividend. Reuters reported on Thursday that Blackstone Chief Executive Officer Steven A...
Nvidia's Stock Surge: Riding High or Ready to Burst? Analysts have suggested it’s hard to see the sharp rise in Nvidia’s stock price after recording a fourth-quarter earnings surprise as a bubble. The factor that bursts a stock price bubble is a slowdown in sales, but the judgment is that Nvidia’s sales and operating profits can maintain a rapid increase. On the 26th, Eugene […]
United Airlines Hikes Checked Bag Costs After Four Years United Airlines is raising checked baggage fees, following American Airlines. Reuters reported on the 24th (local time) that United Airlines announced an increase in checked baggage fees for North American travelers just a few days after American Airlines announced a similar increase. This price increase is the first in four years since United Airlines has […]
Gas Giants Clash: Qatar Boosts LNG Amid U.S. Export Permit Freeze Qatar, one of the leading oil shipping countries competing with the United States and Australia, plans to increase its production of liquefied natural gas (LNG) amidst increasing demand and a halt in growth projects from its key competitor, the United States. Qatar’s Energy Minister Saad Sherida Al-Kaabi announced on the 25th (local time) that they […]
Saudi Sovereign Wealth Fund Pledges $70 Billion Annually for Vision 2030 [TheGuru=HongSungHwan Lee] Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), plans to invest KRW 90 trillion annually starting in 2026 to fulfill its Vision 2030. "We plan to increase our annual capital deployment to $70 billion (about 93 trillion won) after 2025," PIF Governor Yasir Osman Alumayan said at the Future Investment Initiative (FII) conference in Miami, U.S., on Nov. 22, according to industry sources. Currently, PIFs invest between $40 billion and $50 billion (about $53 trillion and $67 trillion) annually. The fund invests 70 percent of its funds in Saudi Arabia and 20 to 25 percent abroad. "The share of foreign investments has decreased, but the volume has continued to grow," Alumayan said. "PIFs invested $100 billion (about $133 trillion) in each country between 2017 and 2023, creating more than 103,000 jobs," Alumayan said, emphasizing that "we have made a significant contribution to the U.S. economy." The PIF is the world's sixth-largest sovereign wealth fund with $600 billion in assets under management and is a key source of funding for Vision 2030 reforms. It is chaired by Saudi Arabia's Crown Prince Muhammad bin Salman, the country's de facto ruler. Saudi Arabia is implementing Vision 2030, a mid- to long-term development plan to move away from an oil-centric economy. It is a strategic national evolution plan to reduce the Saudi economy's dependence on oil, diversify its economic structure, and promote healthcare, education, infrastructure, recreation, and tourism. The goal is to expand non-oil exports from 16% in 2016 to 50% in 2030...
Google's Gemini AI Model Produces Racist Results, Image Feature Suspended Alphabet’s Google has acknowledged the error in its AI model, Gemini, and is temporarily halting the ability of its Gemini function. On the 22nd (local time), Google announced that it is temporarily pausing image generation soon as critics started to raise questions about a powerful generative AI Gemini’s incorrect historical depictions. This measure was taken […]
Nvidia (NVDA) Stocks Surge after Strong Q4 Earnings with Demand Outstripping Supply NVIDIA (NVDA) announced “surprise earnings” for the last quarter, causing its stock price to surge 16% on the 22nd (local time) and setting a new record. NVIDIA’s revenue for the fourth quarter (November to January) of the fiscal year 2024 was $22.1 billion, up 265% from the previous year, and Non-GAAP earnings per share (EPS) […]
United Airlines Returns: Direct Flights to Israel Back on Schedule United Airlines is resuming its flights to Israel. Reuters reported on the 22nd (local time) that United Airlines is scheduled to be the first U.S. airline to resume direct flights to Israel early next month following attacks on southern Israel by Hamas armed forces. United Airlines said, “We conducted a detailed safety analysis of this […]
Meta's Mark Zuckerberg to Discuss AI Partnership with Samsung's Lee Jae Yong Mark Zuckerberg, CEO of Meta, is set to visit South Korea. His visit, which marks the first in 10 years, is drawing attention as it is known that he will meet with Lee Jae Yong, the chairman of Samsung Electronics, and discussions are expected, focusing on the construction of an “Artificial Intelligence (AI) Semiconductor Alliance.” […]
Korean Semiconductors Caught in the Middle: Facing Pressure from U.S., China, and Japan With US President Joe Biden's visit to South Korea, the semiconductor industry is facing the challenge of securing competitiveness. The U.S. and Japan are expanding with software competitiveness and subsidies, and China is also looking for a way out of the U.S.'s grasp.
Walmart's Big Bet: $2.3 Billion Deal to Acquire Vizio Signals Shift in Retail Strategy Walmart has finally acquired TV manufacturer Vizio. Walmart announced on the 20th (local time) that they agreed to acquire TV manufacturer Vizio for $2.3 billion. This indicates Walmart’s high expectations for future advertising revenue. Walmart stated that through this transaction, they can not only sell advertisements through Vizio’s TVs but also gain more opportunities to […]
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