South Korean battery maker LG Energy Solution has opened its books for an initial public offering in the country with an aim to raise up to $10.8 billion in what is South Korea’s biggest IPO. LG Energy’s shares will be… Read More ›
South Korea
LG Energy Solution’s IPO to be third biggest in South Korea
According to two sources familiar with the matter at hand, LG Energy Solution (LGES) is likely to place its IPO at the top of its indicative range at around $11 billion. Institutional investors are betting heavily on booming demand for… Read More ›
US to auction 32M of sour crude from 4 Strategic Petroleum Reserves sites
In a statement, the US Department of Energy said, the United States has launched an auction for 32 million barrels of crude from four strategic petroleum reserves (SPR) sites which will be delivered between late-December and April 2022. Washington’s sale… Read More ›
Australia eases international travel for fully vaccinated travelers from Dec 1, 2021
On Monday, Australian Prime Minister Scott Morrison said, international tourists will be able to enter Australia from December 1; the development marks the restart of international travel to the country, boosting its economy. In May 2020, Australia shut its international… Read More ›
Chinese, Russian warplanes intrude into South Korea’s Air Defense Identification Zone
On Friday, South Korea’s military said, it had scrambled fighter jets following 2 Chinese and 7 Russian warplanes entered its air defense identification zone. Beijing called the intrusion regular training. In a statement Seoul’s Joint Chiefs of Staff (JCS) said,… Read More ›
20 countries pledge to stop public funding of fossil fuel projects abroad by 2022
Twenty countries, including the United States and Canada have agreed to stop public funding of fossil fuel projects abroad by the end of 2022 and instead steer spending into clean energy. The commitment has been termed as a “historic” step… Read More ›
SK Hynix to acquire Key Foundry for $492.41M
In a statement on Friday, SK Hynix Inc, the world’s second-largest memory chip said, it will acquire South Korea-based Key Foundry for $492.41 million (576 billion won). Key Foundry’s 8-inch wafer foundry manufactures chips for power management, display driver and… Read More ›
South Korea raises greenhouse gas reduction target to 40% by 2030
On Friday, in a statement the South Korean government said, it will raise its greenhouse gas reduction target to 40%, up from 26.3%, by 2030, as part of its efforts to achieve carbon neutrality by 2050. The revision of the… Read More ›
Singapore expands quarantine-free travel for visitors from Germany, South Korea and US
In a statement Singapore’s Trade Minister Gan Kim Yong said, the country plans on widening its quarantine-free travel program to include fully vaccinated persons from the United States and South Korea. The development sees the financial hub attempting to cautiously… Read More ›
Reserve Bank of New Zealand hikes interest rates
On Wednesday, New Zealand’s central bank said, it has hiked interest rates for the first time in seven years while signalling further tightening in the coming days in an effort to cool inflationary pressures. The 25 basis point rate hike… Read More ›
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