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Tag: South

Chipmakers drove corporate growth in South Korea last year

Chipmakers drove corporate growth in South Korea last year

World
SEOUL, Feb. 25 (UPI) -- South Korea's largest companies saw a 35 percent jump in operating profit last year, on the back of a stronger global economy.According to industry tracker Chaebol-dot-com on Sunday, the country's top 100 listed companies gained $ 154 billion in operating profit last year, up 34.7 percent from 2016.Sales rose 10.5 percent to $ 1.7 trillion.Semiconductor manufacturers accounted for much of the growth, boosted by the global supercycle of memory chips.South Korea's number one tech giant Samsung Electronics and chipmaker SK Hynix saw their margins surge by record figures -- 83.5 percent and 319 percent respectively.Samsung is currently leading the global market for NAND Flash and DRAM.Excluding the two firms, earnings growth averaged 9 percent on-year.Automobile compani...
South Africa's President Jacob Zuma resigns

South Africa's President Jacob Zuma resigns

World
Media playback is unsupported on your deviceSouth Africa's embattled President Jacob Zuma has resigned from his office with immediate effect.He made the announcement in a televised address to the nation on Wednesday evening.Earlier, Mr Zuma's governing ANC party told him to step down or face a vote of no confidence in parliament.The 75-year-old has been under increasing pressure to give way to Deputy President Cyril Ramaphosa, the ANC's new leader.Mr Zuma, who has been in power since 2009, faces numerous allegations of corruption.His resignation came at the end of a long speech in which he said he disagreed with the way the ANC had acted towards him.He said he did not fear a motion of no-confidence, adding: "I have served the people of South Africa to the best of my ability."'Disciplined A...
South Africa Zuma: Gupta family home raided by police

South Africa Zuma: Gupta family home raided by police

World
South Africa's elite police unit have raided the home of the controversial Gupta family as the investigation into so-called state capture continues.Three arrests have been made, including one Gupta brother, local media report. Police say two other people are expected to hand themselves in.The Gupta family have been accused using their friendship with President Jacob Zuma to wield enormous political influence for their business interests.They all deny the allegations.Africa Live: For all the latest on the Guptas and Zuma, as it happensThe raid on the Gupta's walled compound in Johannesburg comes as Mr Zuma faces increased pressure to resign, in part because of links to the Guptas.He is expected to respond later today to a formal request from the African National Congress (ANC) to step down....
Lion poacher eaten by lions in South Africa

Lion poacher eaten by lions in South Africa

World
Feb. 13 (UPI) -- A pride of lions attacked and ate a suspected lion poacher in South Africa, police said Monday.The mostly-eaten body of the man was found in the Ingwelala Private Nature Reserve over the weekend. The identity of the man has not been determined, but police found a hunting rifle near his remains, leading them to believe he was a poacher."We are still trying all other means, including the Home Affairs Department, to get his history, which may lead us to his residential place," said Police Lieutenant-Colonel Moatshe Ngoepe, according to Sowetan Live.He added: "The process of identifying the deceased has already commenced and it might be made possible by the fact that his head is amongst the remains that were found at the scene."According to the BBC, lion body parts body parts ...
Lions reportedly devour suspected poacher in South Africa

Lions reportedly devour suspected poacher in South Africa

World
South African police are trying to identify a suspected poacher who was reportedly killed and partially devoured by lions in a private game reserve near the Kruger National Park. The man’s mauled remains, including his head, were reportedly found today alongside a hunting rifle and ammunition. "The process of identifying the deceased has already commenced and it might be made possible by the fact that his head is amongst the remains that were found at the scene,” South African Police Service spokesman Lt. Col. Moatshe Ngoepe told the country’s News24. Ngoepe added: “We are now waiting for a person from the family but we are also utilizing our investigative resources to see if we can successfully identify the deceased." Ngoepe told Agence France-Presse news agency: “It seems the victim