InfoAnda - WRAPUP 1-S.Korea loses most jobs in 5 yrs, rate cut seen

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Veggie Oil Van Sets Record | 25 March 2010
Smartphones tempting new targets for hackers | 31 July 2010
U.S. market players urge caution on designing kill switches | | 3 October 2012

Mexican president confident of key reforms in 2013 | | 11 December 2012

">Forum Views () ">Forum Replies ()

Read more with google mobile : WRAPUP 1-S.Korea loses most jobs in 5 yrs, rate cut seen

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: WRAPUP 1-S.Korea loses most jobs in 5 yrs, rate cut seen Reuters - 1 hour 33 minutes ago * Country has biggest job loss in over 5 years in January ADVERTISEMENT * Bank of Korea seen cutting interest rates to record low * Government preparing fresh stimulus package, report says By Yoo Choonsik SEOUL, Feb 11 - South Korea shed the most jobs in five years in January, reinforcing market expectations the central bank will cut interest rates to a record low on Thursday to try to support the ailing economy. The number in employment fell 103,000 to 22.86 million in January compared with a year earlier, the National Statistical Office said on Wednesday, marking the biggest loss since September 2003 in the aftermath of a burst credit bubble. Analysts said the latest in a series of indicators showing Asia's fourth-largest economy slipping deeper into its first recession in 11 years would increase the case for further action from policy makers. A local newspaper reported that South Korean authorities would unveil fresh stimulus measures as early as Thursday, including expanding credit guarantees for smaller firms by state-run agencies by some 50 trillion won . [ID:nSEO303410] The central bank is also expected to cut interest rates on Thursday for the sixth straight time in just four months to stave off a crisis that began in the United States before sweeping worldwide. "We will see more of a downward spiral in the economic slump and job losses, with exports collapsing and domestic demand flagging," said Lee Sang-jae, an economist at Hyundai Securities. "The bleak economic and job market outlook should push the central bank for more rate cuts." March treasury bond futures <KTBc1> extended gains and Seoul stock market's <.KS11> pared losses as the bleak economic outlook boosted the case for more rate cuts and fresh stimulus measures. The country's new Finance Minister Yoon Jeung-hyun said on Tuesday that the local economy would shrink by 2 percent this year, the first contraction since 1998. [ID:nSEO203012] It was the first admission by the government of a possible contraction in an economy that relies heavily on demand from countries now in recession, such as the United States and Europe. WORST IN MODERN HISTORY The Bank of Korea has slashed its base rate by a combined 2.75 percentage points over the past four months to a record low of 2.5 percent. Analysts surveyed earlier this week by Reuters predicted the Bank of Korea would cut the rate by half a percentage point to 2.0 percent at a monthly meeting on Thursday. [ID:nSEO146545] The series of figures pointing to an economic contraction have put the country's unpopular president, Lee Myung-bak, under pressure to take extra steps to revive the economy and create jobs. Maeil Business Newspaper on Wednesday quoted an unidentified government official as saying the local authorities plan to announce a fresh stimulus package on Thursday, including expanded credit guarantees for smaller companies. South Korea has already offered some 140 trillion won in fiscal spending and tax cut plans, equivalent to some 15 percent of the annual gross domestic product, as an increasing number of analysts predict a steep economic contraction this year. The International Monetary Fund forecast last week South Korea's economy would contract by 4 percent in 2009, while brokerage CLSA forecast a 7 percent drop, which would mark the worst in the country's near 40-year period of industrialisation. Separate figures from the country's top financial regulator showed on Thursday more of local bank assets soured in December as the economic slump squeezed South Korean households and companies. South Korean banks saw the ratio of non-performing loans to total loans rise to a 3-year high of 1.11 percent at the end of December, Financial Supervisory Service data showed. South Korean authorities have pledged to keep flooding the financial system with cheap and easy money, but analysts have said consumers and companies most in need are still struggling to secure funds to honour their debts. LINKS: * For recent emergency measures, double-click [ID:nSEO34824] * For recent economic forecasts, double-click [ID:nSEO74994] (Additional reporting by Seo Eun-kyung and Cheon Jong-woo; Editing by Jonathan Thatcher) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Credit Suisse posts record lossReuters - 45 minutes ago MUFG, Morgan Stanley to merge Japan brokerage units: reportAFP - 46 minutes ago India govt to infuse capital in 3 state-run banksReuters - 47 minutes ago Telenor says 2009 guidance does not include IndiaReuters - 53 minutes ago FOCUS-Infra growth to suffer more unless funding costs easeReuters - 55 minutes ago Most Popular – Business Viewed Taliban video of Polish hostage beheading Nissan to shed 20,000 jobs as recession woes mount Swiss banks to announce massive losses: report Obama vows mortgage aid as stimulus blitz hits Florida Indian woman has football-sized tumour removed from jaw View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Wednesday, 11 February 2009
Actor Faizon Love Charged With Felony Assault
More Tibet unrest cannot be ruled out: officials | International |
Ex-Village People Lead Singer Victor Willis Sues New Group For Using His Image And Voice
Tom Cruise's Coffee Cup Up For Auction In Brazil
Court denies Verizon petition on customer switching | Technology |
U.S. lawmaker wants satellite companies to carry local TV | Technology |
Intel to invest $7 billion in U.S. as recession deepens | Technology |
General Motors To Cut Another 10,000 Jobs
Leahy Proposes "Truth Commission" To Investigate Bush Administration
Update: Close Senate Vote Passes $838 Billion Economic Stimulus
New Jersey's Largest Utility Plans To Generate 120 Megawatts Of Electricity From Solar Panels Mounted On Power Poles, Schools, Municipal Buildings
Man Distraught Over Losing Business Leads LA Police On Low-Speed Chase Before Shooting, Killing Self
Developing: Senate Preparing To Vote On $838 Billion Stimulus
Obama Pushes Stimulus In Florida As Senate Prepares Final Vote On $838 Billion Bill
Update: Treasury Dept. Details Plan For Remaining Bailout Money
U.S. Dairy Farmers Find Costs Exceed Income With Milk Prices Down
U.S. Census Bureau Releases Data On Older Workers In Nevada; Last In Series Of Profiles By State
Rihanna postpones Malaysian show amid attack case | Entertainment |
Pfeiffer says mature actresses get better roles | Entertainment |
Bob Marley family in licensing deal for clothes, food | Entertainment |
Actors guild, studios set date for contract talks | Entertainment |
Louvre sets stage for Funeral of Mona Lisa | Entertainment |
Live Nation to buy Ticketmaster | Entertainment |
Man Distraught Over Losing Business Leads LA Police On Low-Speed Chase Before Shooting, Killing Self
Microsoft Secures 10,000th Patent This Month
Ex-Taiwanese First Lady Owns Up To Money Laundering
Tom Cruise's Coffee Cup Up For Auction In Brazil
Disarray as Israeli election rivals claim victory | International |
Double suicide blasts kill eight in Kabul: police
With few details, Geithner plan disappoints markets
Suicide blast, gunfire in Kabul: officials | International |
Israeli rivals battle for power after tight vote
Tsvangirai set to become Zimbabwe's PM
Veteran Actor Phil Carey Of "One Life To Live" Dies At 83
Australia sifts through ash to ID bushfire victims | International |
Palestinians: No talks without settlement freeze
Live Nation And Ticketmaster Announces Merger
US lawmakers seek consensus on stimulus
Ship movements signal possible North Korea missile test | International |
Kadima beats Likud by single seat in Israel vote
Obama turns on Wall Street
Sri Lanka rebels deny gunning down civilians | International |
Obama to decide soon on Afghan troop deployments
EU seeks joint economic action amid French protectionism row
Zimbabwe's Tsvangirai to take office as PM | International |
Disarray as Israeli election rivals claim victory
Spain withdraws cervical cancer shot after illnesses
Drug gang clash with army kills 21 in Mexico | International |
Israeli election too close to call, both claim win
U.S. diplomat holds Afghan supply talks in Moscow | International |
Giant horse chosen as Britain's 'Angel of the South'
Divisive Lieberman a big winner in Israel election
China prosecutors probe television complex blaze | International |
Shark attacks diver in Sydney Harbour | International |
Gates: Decision near on more troops in Afghanistan
Netanyahu reinvents himself in election comeback
GM leader says he'll meet stringent fuel standards
European cities sign climate change agreement
US-TECH Summary
Google tool helps consumers reduce energy usage | Technology |
Certicom agrees to RIM's sweetened takeover offer
FBI Investigates Employer Of Retarded Workers Found In Squalid Iowa Bunkhouse
Kuwaiti oil minister: Prices will continue to fall
Crooks set cyber traps on Digg: security firm
Many local TV stations to go ahead with DTV switch | Technology |
Texas Peanut Processing Plant Closed
US military deaths in Afghanistan region at 576
Medical Society Probes Doctor Who Implanted Embryos On Octuplets' Mom
Google tool helps consumers reduce energy usage
Certicom agrees to RIM's sweetened takeover offer | Technology |
US grappling with Canada's exit from Afghanistan
Feb 10 Highlights Of Low Points In The U.S. Economy
Cuba looks to expand Internet access
System peers under skin to reveal muscle actions | Technology |
Afghan government must improve: Mullen
Postage To Cost 2 Cents More Starting May 11
IBM climbs further into the computing cloud
College friends take fraternity dorm humor to TV | Technology |
Tornado Damages Homes, Knocks Down Power Lines In Central Oklahoma
Windstorms batter France, Britain on flood alert
Gates jokes about North Korean missile test
College friends take fraternity dorm humor to TV
Cuba looks to expand Internet access | Technology |
Pentagon Report Shows Obesity In U.S. Military Doubled Since 2003
Clinton holds out hope for useful talks with Iran
China's Monthly Auto Sales Overtake U.S. For First Time In January
Bahrain Web crackdown triggers calls for reform
Some dismayed at Obama indecision on human rights
Wall Street Tumbles On Bank Bailout Plan
System peers under skin to reveal muscle actions
Geithner rescue plan fails to ease jitters
SanDisk to mass produce 64GB memory cards
China sentences 76 over Tibet riots: state media
Thailand upset with Angelina Jolie refugee comments
Sri Lanka govt denies shelling that killed 16 patients
Heigl, Knight eye Grey's Anatomy exit: report | Entertainment |
Suicide bombers attack Kabul
Buena Vista bassist Cachaito Lopez dies at 76 | Entertainment |
Myanmar envoy brands boatpeople 'ugly as ogres': report
Will Smith leads Forbes star bankability list | Entertainment |
China report: 76 sentenced so far for Tibet riots
Rihanna postpones show, police continue probe | Entertainment |
Looting reported in Australian wildfire zone
Old Hollywood dominates at Oscar fashion preview | Entertainment |
China kills fowl after bird flu
WALL-E the film to beat for animation Oscar | Entertainment |
Ex-NKorean spy to meet family of Japanese abductee
Hollywood actors, producers unions to meet next week
NY Met manager says economy casts pall over opera | Entertainment |
Frenchman arrested for locking out naked girlfriend: report
Grammys, "Idol" music to networks' ears
Old Hollywood dominates at Oscar fashion preview
Many local TV stations to go ahead with DTV switch | Entertainment |
Grammys, Idol music to networks' ears | Entertainment |
WRAPUP 1-S.Korea loses most jobs in 5 yrs, rate cut seen
Seoul shares fall on banks;automakers lend support
Report: Japan banks nearing Nikko Cordial decision
Golden oldie Spaniel 'Stump' wins dog show
Pakistan receives no bids for 8-day repo
Obesity in US military doubled since 2003
Taiwan sells 20-yr bonds at 2.21 pct yield -c.bank
NY Philharmonic to visit Vietnam on Asia tour
China Jan exports fall sharpest in over a decade: govt
Flight 1549 crew gets laughs on 'Letterman'
China's January exports plunge 17.5 percent
Hollywood actors, producers unions to meet next week
Report: Morgan, Mitsubishi UFJ to merge brokerages
Press corps in DC more specialized, international
Japan's Elpida says no accord yet in Taiwan alliance talks
US-ENTERTAINMENT Summary
Former Taiwan electronics executive indicted in US
Grammys, "Idol" music to networks' ears
'La Cage' impersonators revue closes in Las Vegas
Music Review: Lily Allen's new album saucy, darker
Taliban kills 26 in deadly assault on Kabul
Markets glum on US crisis action, steel in distress
D.A. Needs Further Investigation Before Formally Charging Chris Brown
Bank says UK economy 'to shrink in 2009'
16 dead, 45 wounded in twin Baghdad bombs: police | International |
Bombs target Shiite pilgrims in Baghdad, killing 9
Prosecutors Want Joe Francis Locked Up
UK economy 'to shrink 4-6% in mid-2009'
Page Not Found |
Inconclusive election puts Israel, peace in limbo
"Sopranos" Actor Vincent Pastore Settles $5.5 Million Assault Lawsuit
Credit Suisse posts biggest full year loss ever
Snoop Dogg Partners With MTV To Release New Album, Talk Show And Have His Music On Video Game
Financial reform to get backseat ride at Rome G7 | International |
Iran dismisses report it faces raw uranium shortage
"Got Milk" Ads Featuring Chris Brown To End This Week
Taliban kill 20 in trio of Afghan capital attacks | International |
U.S. envoy Holbrooke visits northwest Pakistan | International |
20 hurt, attackers killed at Afghan ministry
Jews say pope must condemn anti-Semitism in Church | International |
Iran denies Cypriot-flagged ship carrying arms to Gaza
Nazi hunters want German probe on war criminal Heim | International |
16 dead and 45 wounded in twin Baghdad bombs
Mobile connections surpass 4 billion mark worldwide | Technology |
Twisted metal, cars in trees: tornado kills 15
Nokia to cut production as phone market dives | Technology |
U.S. Congress and White House seek final deal on stimulus
Republicans Seek To Trim Stimulus As Conference Committee Negotiations Begin
Google testing home electricity use software
NYPD Slows Down Ground Zero Staffing
U.S. Sec Of State Clinton Tells Czech Counterpart U.S. Is Willing To Reconsider Deploying Controversial Missile Shield If Iran Changes Behavior
Democrats, Republicans Want More Details On Geithner's New Bailout Plan
Intel To Spend $7 Billion For U.S. Factory Upgrades
One Laptop Per Child Project Cuts XO Price By $24
Al Franken In Capitol Hill To 'Prepare' For Senate Duties Despite Election Contest
United Airlines Brings Back Call Center Jobs From India To U.S.
Goldman Sachs, JPMorgan Chase CEOs To Testify Wednesday On Their Use Of Bailout
U.N. Chief Calls On U.S., China, India And Europe To Lead Way On Climate Change
Wounded Sri Lankans describe chaos in north
Bomb kills lawmaker in Pakistan as US envoy visits
Malaysia's industrial output drops 15.6 percent
SKorea, Japan urge NKorea to avoid provocation
Attacks on Afghan government buildings kill 19
China plans largest-ever military parade
Red Cross denies stirring panic in Sri Lanka
Navy diver attacked by shark in Sydney Harbour
'American Idol' Hopefuls shine in solos
Malaysia to cut electricity tariffs: minister
Hollywood still misrepresenting blacks: US film-maker Burnett
Asia's budget airlines eye growth, trade barriers
Situation "very tense" in Tibet: Dalai Lama
Chen remembers heroism of Peking Opera star Mei | Entertainment |
Hong Kong stock index falls 2.5 percent
Chinese exports, imports plunge, fanning worries
Report: Morgan, Mitsubishi UFJ to merge brokerages
Pakistan's 6-mth T-bill cut off yield at 13.8731
Gunn, Roberts to host Oscars red-carpet arrivals
Chinese exports, imports plunge in January
Sting thrills Romania with Elizabethan music
Taiwan dlr hits 4-1/2-yr closing low, exporters buy
Gwyneth Paltrow, Courteney Cox party with Beyonce
China to build Mecca monorail
British rock band Oasis to play first China dates
Budget carriers caution against protectionism
ABC's Diane Sawyer reports on Appalachian poverty
Woo epic, kung fu biopic lead HK nominations
School board offers apology to singer Pete Seeger
Indonesia court clears Tommy Suharto of graft
'American Idol' Hopefuls shine in solos
Chen remembers heroism of Peking Opera star Mei
Hollywood still misrepresenting blacks: US film-maker Burnett
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01