Founder of South Korean retail giant Lotte Group dies at 98

Lotte Group founder Shin Kyuk-ho, who started manufacturing chewing gum in 1948 in Japan and built the business into South Korea’s No.5 conglomerate with interests ranging from retail to chemicals, died on Sunday, the company said. He was 98. He was the last of the South Korean entrepreneurs who founded the country’s major chaebols, or… Read More Founder of South Korean retail giant Lotte Group dies at 98

North Korea replaces foreign minister Ri Yong Ho

North Korean Foreign Minister Ri Yong Ho has been replaced, Seoul-based NK News reported on Saturday. The usually well-informed outlet, citing multiple unnamed sources in Pyongyang, said Ri would be replaced by Ri Son Gwon, the former chairman of the Committee for the Peaceful Reunification of the Country (CPRC), who played a prominent role in… Read More North Korea replaces foreign minister Ri Yong Ho

Russian cabinet resigns following President Vladimir Putin’s proposal of constitutional changes

Russian President Vladimir Putin proposed constitutional changes on Wednesday that would give him scope to extend his grip on power after leaving the presidency, and picked a new prime minister after Dmitry Medvedev and his cabinet stepped down. Most importantly, Putin suggested diminishing the powers of the presidency and beefing up those of the prime… Read More Russian cabinet resigns following President Vladimir Putin’s proposal of constitutional changes

U.S. set to publish rule to block more sales to Huawei

The U.S. government is nearing publication of a rule that would vastly expand its powers to block shipments of foreign-made goods to China’s Huawei, as it seeks to squeeze the blacklisted telecoms company, two sources said. The U.S. Commerce Department in May placed Huawei Technologies Co Ltd on a trade blacklist, citing national security concerns.… Read More U.S. set to publish rule to block more sales to Huawei

Amazon to invest $1billion to aid small, medium Indian businesses

Amazon.com Inc CEO Jeff Bezos said his company will invest $1 billion to bring small and medium-sized businesses online in India and expects to export $10 billion worth of India-made goods by 2025. Bezos’ visit comes amid strident criticism from small business owners who accuse the company and Walmart’s Flipkart of unfair business practices. The… Read More Amazon to invest $1billion to aid small, medium Indian businesses

India orders anti-trust investigation of Amazon, Flipkart

India ordered an investigation of Amazon.com Inc and Walmart’s Flipkart on Monday over alleged violations of competition law in the latest setback for U.S. e-commerce giants operating in the country. The Competition Commission of India (CCI) said it was ordering a wider probe following a review of allegations that Amazon and Flipkart were promoting some… Read More India orders anti-trust investigation of Amazon, Flipkart

Ukraine asks Iran to return black boxes from crashed plane

Ukraine’s prosecutor’s office and security service have asked Iranian authorities to give Kiev black boxes from the crashed Ukrainian plane, the prosecutors office said on Wednesday. A top Ukraine security official said this week that a senior investigator from Iran was expected to visit Ukraine soon and determine whether a Ukrainian laboratory would be suitable… Read More Ukraine asks Iran to return black boxes from crashed plane

Traders plan protests against Amazon boss Jeff Bezos during India trip

Thousands of small-scale traders in India are planning to organize protests against Amazon.com Inc founder Jeff Bezos, who will visit the country next week for a company event and potential meetings with government officials. Bezos will participate in an Amazon event in capital New Delhi aimed at connecting with small and medium-sized enterprises, three sources… Read More Traders plan protests against Amazon boss Jeff Bezos during India trip