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India 3G auction likely next fiscal yr

A multi-billion dollar auction of 3G spectrum to help plug India's budget deficit may only kick off in the next financial year, a government minister said on Monday.

World crude steel output rises 25.5% in Jan

World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 109 million metric tons (mmt) in January. This is 25.5% higher than January 2009.China's crude steel production for January 2010 was 48.7 mmt, an increase of 18.2% on January 2009. Japan produced 8.7 mmt of crude steel in January 2010, up 36.8% compared to the same month last year. South Korea showed an increase of 32.4% from January 2009, producing 4.5 mmt of crude steel in January 2010.

North Korea seeks military talks with rival South

North Korea has proposed holding military talks with the South next week after it raised tension on the troubled peninsula last week by warning it would hold live-fire drills near the border with its rival.

Evan Lysacek ends Yevgeny Plushenko's Olympic reign

American Evan Lysacek glided to Olympic gold in men's figure skating on Thursday in a stunning upset of Russian Yevgeny Plushenko's pursuit of back-to-back titles.

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Hyundai targets 4.5 percent rise in U.S. market share

Hyundai Motor Co aims to increase its share of the U.S. market to 4.5 percent this year from 4.2 percent in 2009.

Sony pulls plug on OLED TV in Japan

Sony Corp has pulled the plug in Japan on sales of a next-generation flat TV due to sluggish demand, a setback for a product the company had trumpeted as a sign of its revival as an innovator.

Economy dogs N.Korea's brilliant Kim on birthday

North Korea celebrated leader Kim Jong-il's birthday on Tuesday with synchronised swimmers glorifying the kind-hearted father of the reclusive state while it made overtures for dialogue with its foe the United States.

North Korea not eager to return to talks: U.N. envoy

North Korea is not eager to return to six-party denuclearization talks but has not rejected the idea, a United Nations envoy said on Friday as fresh diplomatic activity raised hopes for progress on the issue.

No takers for Hynix stake, again; market sale likely

Shareholders of South Korea's Hynix Semiconductor took another bruising as they failed at a third attempt to sell part of their $3.1 billion controlling stake in the world's No. 2 memory chipmaker.

South Korea to form global grain company

South Korea aims to set up a global grain purchasing and distribution company that can better insulate the country from fallout from global price hikes. According to state-run agriculture trading corporation, Korea Agro-Fisheries Trade Corp, the plan calls for the new grain handling company to set up an international distribution network in the next 10 years.

Philip Morris profit up, sets $12 billion buyback

Philip Morris International Inc posted higher-than-expected fourth-quarter profit on Thursday and announced a new $12 billion share repurchase program, sending its shares up more than 4 percent.

Sanctions stay until North Korea talks: South, Japan

Sanctions on North Korea will not be removed until Pyongyang returns to disarmament talks and takes serious steps toward scrapping its nuclear arms program, the foreign ministers of South Korea and Japan said on Thursday.

Micron to acquire Numonyx for $1.27 billion

Micron Technology Inc said it is acquiring privately held Numonyx Holdings B.V. on Tuesday in an all-stock deal valued at about $1.27 billion.

North Korea nuclear envoy visits China, talks closer

North Korea's top nuclear envoy arrived in Beijing on Tuesday as Pyongyang said it was willing to step up talks with China on resuming stalled disarmament-for-aid talks.

Asian shares mixed; euro wins respite

Asian shares broadly rose on Tuesday, led by Taiwan and South Korea, and the euro staged a small rebound from its recent drubbing, but Japan and Australia fell as investor sentiment remained weak on euro zone fiscal concerns.

Asian shares struggle, euro wins respite

Asian share markets struggled to hold firmer ground on Tuesday but won some respite from recent losses, while the euro rose tentatively as investors took a break from selling it off over fiscal concerns in the euro zone.

Envoys go to North Korea to push for nuclear talks

A senior Chinese envoy was in North Korea to prod the reclusive state back to stalled nuclear talks while the South sent a team across the border on Monday for talks to restart tourism projects halted due to political wrangling.

Samsung aims to triple smartphone sales in 2010

South Korea's Samsung Electronics Co Ltd said on Thursday it aimed to triple smartphone shipments this year to more than 18 million units as the world's second-biggest cellphone maker scrambles to make a mark in the fast-growing smartphone market.

Samsung aims to treble smartphone sales in 2010

South Korea's Samsung Electronics Co Ltd said on Thursday it aimed to treble smartphone shipments this year to more than 18 million units as the world's second-biggest cellphone maker scrambles to make a mark in the fast-growing smartphone market.

South Korea eyeing summit with North, but not cash

North and South Korea have been secretly trying to set up a summit by mid-year, news reports said on Tuesday, but the South insisted the destitute North would not be offered any payment to entice it to a meeting.

Asia shares fall to three-month lows

Asian stocks fell to three-month lows on Monday with investors cautious after new data strengthened the case for tighter Chinese monetary policy and as attention focused on key U.S. economic reports due this week.

Seized North Korea arms were bound for Iran: Thailand

A shipment of weapons from North Korea seized by Thai authorities last month were headed for Iran, according to a confidential report the Thai government sent to a U.N. Security Council committee.

U.S. growth spurt fans recovery hopes

An acceleration in U.S. economic growth at the end of last year has fanned optimism about the outlook for global growth among business chiefs and policymakers in Davos.

Samsung Elec bullish on TV, chip demand

Samsung Electronics expects rapidly recovering demand for its premium computer memory chips and flat screen TVs to drive growth this year, with the unwinding of global stimulus measures the key risk for sales.

North Korea not about to collapse, says South's Lee

North Korea is not near collapse and leader Kim Jong-il has recovered from his illnesses, but the destitute state is hurting from U.N. sanctions imposed for its nuclear test, South Korea's President Lee Myung-bak said.

Samsung Elec swings to Q4 profit on strong chips

Samsung Electronics, the world's top maker of memory chips and LCD screens, expects rapidly recovering demand for its premium computer memory chips and flat TVs to drive growth this year, in an ominous sign for its Japanese rivals.