GM pitches $2.8b investment in South Korea

General Motors (GM) has recently proposed an investment of $2.8 billion into its loss-making South Korean operations over the next 10 years and has asked Seoul to provide its share of the funds, according to a South Korean government official...

AP Moller-Maersk plans to expand its transport and logistics business to compete directly with package delivery companies UPS and Fedex as part of a major restructuring, its chief executive said Tuesday, reports Reuters. Maersk, the world's largest container shipping company, has sold off the majority of its energy assets to focus entirely on transport and logistics. "We're building this company that is a global integrated container business, a company very similar to UPS and Fedex," CEO Soren Skou told investors at a capital markets day in Copenhagen on Tuesday. "I hope they will be considered peers of ours, when we are done with this journey in 3-5 years," he added. As part of the restructuring, Maersk aims to expand its...

Bangladesh-Myanmar border trade increases

The border trade between Bangladesh and Myanmar has reached US$22 million as of February 9 in current fiscal year. The amount showed an increase of $13 million compared with the same period last FY, state media of Myanmar reported quoting...