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By Yoo Choonsik
SEOUL, Dec 5 (Reuters) - South Korea pledged on Friday to support the country's carmakers, sending shares in the industry sharply higher, as the government tries to dodge a recession by reviving demand in Asia's fourth-largest economy.
(Updates with minister, share prices, other countries)
HONG KONG -- Asian bonds weakened on Friday but trade was muted ahead of US employment data due later in the day, after bleak figures earlier in the week showed the world's largest economy was already mired in recession.
SEOUL: South Korea's government is considering tax cuts for automakers who are struggling with declining domestic and overseas demand, according to a minister.
South Korea's government is considering tax cuts for automakers who are struggling with declining domestic and overseas demand, according to a minister. Combined vehicle sales for local industry leader Hyundai Motor and four others fell 8.6 percent year-on-year to 445,111 in November.
The Dow Chemical Company (Dow) and Petrochemical Industries Company (PIC), a wholly owned subsidiary of Kuwait Petroleum Corporation (KPC), today announced that they have signed the Joint Venture Formation Agreement and other key definitive agreements regarding the formation of K-Dow Petrochemicals, a 50:50 joint venture that will be the leading global supplier of petrochemicals and plastics.
FREEPORT — Dow Chemical Co. will reduce its contract labor force in Freeport by “thousands” and ask non-essential full-time employees to take vacations from work after announcing Texas Operations will drop overall production to 35 percent.
Dubai: The world faces a crude supply shock if oil prices remain below $70 (Dh257.11) per barrel, Qatar's Energy Minister Abdullah Bin Hamad Al Attiyah said on Wednesday arguing that lower prices would discourage investment in new capacity.
Geography Area: 780,580 sq. km. Cities: Capital --Ankara (pop. 3.9 million). Other cities --Istanbul (11.3 million), Izmir (2.6 million), Bursa (1.5 million), Adana (1.5 million), Gaziantep (1.2 million).
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