SINGAPORE (AFP) - Oil prices plunged close to $33 a barrel on Thursday as crude extended losses on rising US energy stockpiles and China's weakening currency.At 0230 GMT, US benchmark West Texas Intermediate (WTI) for February delivery was down 60 cents at $33.37.Its close of $33.97 a barrel on the New York Mercantile Exchange on Wednesday marked the lowest settlement price since December 2008 during the global financial crisis.In London, Brent crude for February delivery, the European benchmark

South Korean stocks traded 0.88 percent lower late Thursday morning due to a Chinese stock market crash coupled with new North Korean risks.The local currency was trading at 1,201.70 won against the U.S. dollar as of 11:20 a.m., down 3.80 won from the previous session's close.The benchmark Korea Composite Stock Price Index (KOSPI) lost 16.92 points to 1,908.51 as of 11:20 a.m.Shares lost ground across the board, with Samsung Electronics plunging 1.02 percent and No. 1 carmaker Hyundai Motor losi

SHANGHAI (AFP) - China stock markets closed for the day less than half an hour after opening Thursday when shares fell more than seven percent, triggering an automatic "circuit breaker", after authorities lowered the yuan's value by the most since August.By 9.58am, when trading was halted, the benchmark Shanghai Composite Index had slumped 7.32 percent, or 245.95 points, to 3,115.89.The Shenzhen Composite Index, which tracks stocks on China's second exchange, had tumbled 8.35 percent, or 178.08

Lincoln Park overlooking the Golden Gate to the San Francisco Bay is a special place for me. My father, bless his soul, used to spend a lot of time there, poring over his oil painting canvass, trying to capture the beautiful surroundings. The park also houses an art museum, Legion of Honor, known for its European painting collection. An Auguste Rodin bronze statue, The Thinker, guards its entrance, where my children used to run around during the 1970s and 1980s. Come November 1984, Holocaust Mem

Former National Assembly Speaker Lee Man-sup passed away Monday. He was 83. Lee Man-sup (Yonhap)Lee, who served as the parliamentary speaker in the early 1990's and 2000's, died at 4:31 p.m. at Severance Hospital, a general hospital in western Seoul, according to Kwon Joong-tae, a parliamentary official.A graduate of Yonsei University, Lee worked as a reporter for the daily Dong-a Ilbo before entering politics in 1963.Eight-term lawmaker Lee first served as speaker in 1993 when he replaced Park

TOKYO (AFP) - The Bank of Japan Friday held fire on expanding its massive stimulus programme despite more weak data as the world's number three economy teeters on the edge of recession.In a short statement following a closely watched meeting, the BoJ said it would hold steady on its record 80 trillion yen ($665 billion) annual asset-buying scheme.The central bank also releases its semi-annual inflation and growth projections later in the day, with speculation mounting that it will roll back its

Daewoo Shipbuilding & Marine Engineering Co., the world's second-biggest shipyard, rose the most in two months in Seoul trading on expectations creditors?plan to provide 4.2 trillion won ($3.7 billion) in funds will help ease concerns about its cash position.Shares of Daewoo Shipbuilding jumped as much as 8.5 percent, the biggest intraday gain since Aug. 25, to 7,400 won and traded at 7,050 won as of 9:56 a.m. in Seoul. The stock has fallen 62 percent this year after reporting big losses due to

Samsung Group has decided to sell its affiliate’s stake in chemical units to Lotte Chemical, an apparent move to focus on its flagship businesses including information technology and electronics.In separate regulatory filings on Friday, the group’s affiliates -- including Samsung Electronics, Samsung SDI, Samsung C&T, Samsung Electro-Mechanics and Hotel Shilla -- said they would sell off their entire stake, totaling 31.5 percent and valued at 470 billion won ($412 million), in Samsung Fine Chemi

The government and the main creditor of Daewoo Shipbuilding & Marine Engineering Co. said Tuesday that they will soon announce a set of measures to help save the shipyard, whose annual operating loss may exceed 5 trillion won ($4.41 trillion).The measures, expected to include up to 4.3 trillion won in additional funds for the troubled shipbuilder, will be announced early Thursday, the state-run Korea Development Bank said in a released statement.Just one day earlier, unionized workers of Daewoo

Muslim pilgrims gather around bodies of people crushed in Mina, Saudi Arabia during the annual hajj pilgrimage on Thursday. (AP-Yonhap)Two giant waves of Muslim pilgrims collided at an intersection Thursday near a holy site in Saudi Arabia, and more than 700 people were crushed and trampled to death in the worst disaster at the hajj in a quarter-century."People were climbing over one another just to breathe," said Abdullah Lotfy of Egypt. "It was like a wave. You go forward and suddenly you go b

South Korea's national pension fund operator on Friday decided its official stance on a merger between key subsidiaries of Samsung Group, the country's leading family-controlled conglomerate, but won't disclose what the stance is for the time being, officials said.But sources say that the operator decided to support the merger considering its potential influence on the fund's earning rates.The National Pension Service decided on whether to support or oppose the merger between Samsung C&T Corp. a

ATHENS (AFP) - Greece on Wednesday promised it would start pension and tax reforms next week, as demanded by creditors, in return for a three-year eurozone loan to drag its financial system back from the brink of collapse."We propose to immediately implement a set of measures as early as the beginning of next week including: tax reform related measures; pension related measures" if the loan from the European Stability Mechanism (ESM) was forthcoming, the finance ministry said in a letter to the

A senior South Korean Navy official was arrested Friday in a widening probe into alleged corruption in connection with the country's arms procurement projects.A military court issued an arrest warrant for the officer with the rank of rear admiral, only identified by his family name Park.He is charged with pressing his subordinates in 2012 to doctor a report on the operational capability of the AgustaWestland AW159 Wildcat, a multi-mission maritime helicopter.It participated in South Korea's nava

President Park Geun-hye on Friday urged people suspected of being infected with MERS to remain in self-quarantine, saying the government is making its utmost efforts to contain the disease."The top priority is to stop the spread of the infection of the Middle East Respiratory Syndrome," Park said in a meeting with health care workers at the National Medical Center in Seoul.The visit underscored the urgency in combating the virus that has killed four South Koreans and sparked a widespread public

South Korea's top economic policymaker said Friday that the country's economy will likely grow just over 3 percent this year due to some trouble in exports.At a meeting attended by more than 60 investors in London, Finance Minister Choi Kyung-hwan said the slower than anticipated growth is due to a drop in global trade that has offset steady gains in domestic consumption.The government had originally targeted 3.8 percent growth as being attainable this year, up from 3.3 percent reached in 2014.T

The United States has extended a visa waiver program for South Korea for two years again, the Foreign Ministry said Friday.It would enable South Koreans to continue to travel to the U.S.for tourism or business without obtaining a visa for stays of up to90 days."The U.S. government informed (us) through its embassy in South Korea that our country's Visa Waiver Program member status has been extended again until March 2017," it said in a press release.South Korea, a key regional ally of the U.S. f

The United Arab Emirates has issued a travel warning on South Korea over an MERS outbreak. The virus has killed four people, infected 42 and prompted health officials to quarantine more than 1,800 since the first case was confirmed more than two weeks ago. The UAE Ministry of Foreign Affairs asked its citizens to avoid traveling to the country on its website Thursday. Earlier this week Taiwan has raised the travel alert to the second level for Seoul, Incheon and the Gyeon

WASHINGTON (AP) -- Declaring ``history is harsh,'' Prime Minister Shinzo Abe of Japan offered solemn condolences Wednesday for the Americans who died in World War II as he became the first Japanese leader to address a joint meeting of Congress.``My dear friends, on behalf of Japan and the Japanese people, I offer with profound respect my eternal condolences to the souls of all American people that were lost during World War II,'' said Abe.But as he did at a news conference Tuesday with President

A Seoul court issued an arrest warrant Tuesday for Korean Air Lines heiress Cho Hyun-ah, who delayed a flight with a tantrum over snacks in a "nut rage" incident that caused a national uproar.The eldest daughter of the top Korean airline's chairman Cho Yang-ho faces charges including violation of the aviation safety law, coercion and interference in the execution of duty.Korean Air heiress Cho Hyun-ah arrives at the Seoul District Central Court to attend an arrest warrant hearing on  Tuesday. (Y

A group of defectors from North Korea sends anti-North Korea leaflets into the communist country Friday from Paju, Gyeonggi Province. (Yonhap)The two Koreas exchanged machine gun fire Friday after the North launched shots toward balloons carrying anti-Pyongyang propaganda leaflets floated by South Korean civic activists, the Joint Chiefs of Staff said.Some of the North Korean shots landed south of the border and the South fired back. No casualties were reported.Joint Chiefs of Staff officials sa